ologhai Posted September 24, 2008 Report Share Posted September 24, 2008 President Bush may make a prime-time speech as early as Wednesday night to put pressure on Congress to approve a $700 billion plan to bail out Wall Street, a senior administration official told CNN. I don't really expect Bush to understand the world of finance and economics, but he really looks lately (even more than normal) like he's just reading words out loud when he's making a speech. He makes it look SO obvious that he doesn't have any clue about what he's saying. Link to comment Share on other sites More sharing options...
Vilhelm84 Posted September 24, 2008 Report Share Posted September 24, 2008 HUI and XAU at positive territory while gold shedding some gains. Is this it, stocks are taking the lead? Probably a one day event. Link to comment Share on other sites More sharing options...
Bobsta Posted September 24, 2008 Report Share Posted September 24, 2008 HUI and XAU at positive territory while gold shedding some gains. Is this it, stocks are taking the lead? Probably a one day event. British Bulls say maintain long positions into tomorrow. Interesting. But then again, they don't look at lease rates and fundamentals - just candlestick formations. Link to comment Share on other sites More sharing options...
Catflap Posted September 24, 2008 Report Share Posted September 24, 2008 this looks like a parabolic gold move to 1140 at least Cracking chart Ker - is there a theoretical date for this peak which you can extrapolate? Link to comment Share on other sites More sharing options...
Catflap Posted September 24, 2008 Report Share Posted September 24, 2008 It is very important to recognise where we are at this juncture, the 74-76 mid cycle low hit where debt levels and desperation were not at critical levels, the low was allowed to happen quite easily. We are entering a once in a lifetime, 1 in 100 year event which CANNOT be controlled as easily, this commodity cycle i feel will behave a lot differently than the last. I agree with that but it's wise to be aware that the same thing could happen - nothing worse that buying a peak and then seeing a big drop. This really is a once in a lifetime event but I would say it's more like 1 in 72 years - South Sea bubble 1720, Canal mania 1793, Overend and Gurney bank run 1866, 1929 crash and early 30's depression and where we are today. Thanks for posting that, I actually understood it. So did I Link to comment Share on other sites More sharing options...
Gatesy Posted September 24, 2008 Report Share Posted September 24, 2008 Or I could learn to stop worrying and embrace a possible financial Armageddon, which, according to the BBC, would be a nice, mild one anyway. http://news.bbc.co.uk/1/hi/business/7631281.stm hmmmm. I'd put the comments in that article at about number 13-14 on the pompus prognosticators chart posted here the other day; scary. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 24, 2008 Report Share Posted September 24, 2008 Glenn Beck finally asks questions: Who owns the Federal Reserve? http://www.youtube.com/watch?v=bLCHWhmyn8w This is very good. Well worth watching. This Is How The Bail Out Will Screw You Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted September 24, 2008 Report Share Posted September 24, 2008 This Is How The Bail Out Will Screw You Congresswoman Marcy Kaptur's take: http://www.youtube.com/watch?v=S27yitK32ds Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 24, 2008 Author Report Share Posted September 24, 2008 Think you need a third category there... gold trader. I'd advise people to not trade this market. Link to comment Share on other sites More sharing options...
Compounded Posted September 24, 2008 Report Share Posted September 24, 2008 Bairds now have 24 different types of gold coin out of stock, including all sizes of Britannia, there are also now delays on 1oz Krugers. They are also out of all bullion decimal sovs except the more expensive 2008. Link to comment Share on other sites More sharing options...
frizzers Posted September 25, 2008 Report Share Posted September 25, 2008 Dollar finding support at 50 dma. Careful Link to comment Share on other sites More sharing options...
romans holiday Posted September 25, 2008 Report Share Posted September 25, 2008 I'd advise people to not trade this market. Couldn't agree more. But if you must... do so with fear and trepidation, with a teeny weeny portion of your position, dipping only your little toe in the water. Link to comment Share on other sites More sharing options...
kernull Posted September 25, 2008 Report Share Posted September 25, 2008 wow, suspension of elections possible: http://www.bloomberg.com/apps/news?pid=206...&refer=home Link to comment Share on other sites More sharing options...
romans holiday Posted September 25, 2008 Report Share Posted September 25, 2008 I don't really expect Bush to understand the world of finance and economics, but he really looks lately (even more than normal) like he's just reading words out loud when he's making a speech. He makes it look SO obvious that he doesn't have any clue about what he's saying. Yep, and I would add Bernanke and Paulson to that. Thinking keystone cops and Buster Keaton here. Gotta laugh at the absurdity of things. http://kr.youtube.com/watch?v=DlkdtS8OFlA Link to comment Share on other sites More sharing options...
romans holiday Posted September 25, 2008 Report Share Posted September 25, 2008 wow, suspension of elections possible: http://www.bloomberg.com/apps/news?pid=206...&refer=home I thought America was too big too fail. Link to comment Share on other sites More sharing options...
wren Posted September 25, 2008 Report Share Posted September 25, 2008 wow, suspension of elections possible: http://www.bloomberg.com/apps/news?pid=206...&refer=home McCain Suspends Campaign; Obama Presses for Debate (Update2) Sept. 24 (Bloomberg) -- John McCain made a surprise announcement that he was suspending his presidential campaign and called on Democratic rival Barack Obama to postpone their first debate until Congress hammers out a plan to steady the financial markets. Good gracious. Lets's hope it's only some sort of manoevering. Link to comment Share on other sites More sharing options...
kernull Posted September 25, 2008 Report Share Posted September 25, 2008 Good gracious. Lets's hope it's only some sort of manoevering. well, you know, they're mentally preparing us , so the announcement will not shock Link to comment Share on other sites More sharing options...
drminky Posted September 25, 2008 Report Share Posted September 25, 2008 Oh they are preparing alright! Army Unit to Deploy in October for Domestic Operations Beginning in October, the Army plans to station an active unit inside the United States for the first time to serve as an on-call federal response in times of emergency. The 3rd Infantry Division’s 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations. The unit will soon be under the day-to-day control of US Army North, the Army service component of Northern Command. The Army Times reports this new mission marks the first time an active unit has been given a dedicated assignment to Northern Command. The paper says the Army unit may be called upon to help with civil unrest and crowd control. The soldiers are learning to use so-called nonlethal weapons designed to subdue unruly or dangerous individuals and crowds. When the currency has no buying power anymore, yet the country is full of guns, the guns just might BECOME the buying power! Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 25, 2008 Report Share Posted September 25, 2008 Hmmmmmm.... Army Unit To Deploy For Domestic Operations by Rob Cole Tue Sep 23, 2008 at 05:11:09 AM PDT http://www.dailykos.com/story/2008/9/23/7583/02516 Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 25, 2008 Report Share Posted September 25, 2008 Army Unit to Deploy in October for Domestic Operations Link to comment Share on other sites More sharing options...
Vilhelm84 Posted September 25, 2008 Report Share Posted September 25, 2008 "Yesterday, we saw a city-wide bank run in Hong Kong when thousands of jittery depositors at Bank of East Asia (BEA) demanded their deposits back." - Puru Saxena I´am surprised that we haven´t seen any bank runs in U.S.A. Link to comment Share on other sites More sharing options...
drminky Posted September 25, 2008 Report Share Posted September 25, 2008 "Yesterday, we saw a city-wide bank run in Hong Kong when thousands of jittery depositors at Bank of East Asia (BEA) demanded their deposits back." - Puru Saxena I´am surprised that we haven´t seen any bank runs in U.S.A. ??? Indymac bank not ring a bell? Link to comment Share on other sites More sharing options...
ologhai Posted September 25, 2008 Report Share Posted September 25, 2008 BBC: Bush's address. Bush: "Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car..." Apparently, ordinary people 'need' loans to do ordinary things. Link to comment Share on other sites More sharing options...
romans holiday Posted September 25, 2008 Report Share Posted September 25, 2008 BBC: Bush's address. Bush: "Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car..." Apparently, ordinary people 'need' loans to do ordinary things. "You can't fool all of the people all of the time". I am hoping this crisis, and the proposed solutions, will help people see how corrupt the system is. If it doesn't, maybe this maxim is falsfied. Link to comment Share on other sites More sharing options...
ologhai Posted September 25, 2008 Report Share Posted September 25, 2008 Congresswoman Marcy Kaptur's take: http://www.youtube.com/watch?v=S27yitK32ds [Tin foil hat: ON!] I am fascinated by trying to spot correlations between the situation we're currently experiencing and other economically interesting times -- particularly between 1900 and 1930 or so. What this congresswoman has to say reminded me of a piece from a video I've linked to before (as have others I'm sure) which is an account of the shenanigans associated with the setting up of the Fed and in the decade or three that followed. The video documentary is Zeitgeist, and the bit I was thinking of begins at 1:17:40 (interestingly with the Jefferson quote mentioned in the quotes thread). If anyone has ten minutes to spare to watch a bit of this video, I'd be interested to hear what others think about the points of similarity between then and now (at least as Zeitgeist reports them -- although how accurate this video is, I can't say). What is really going on behind the scenes, or is this just a poorly-thought-out (but necessary?) bailout as a result of simple greed and fear (in that order) of ordinary traders, borrowers and lenders? If we're living through times similar to around 80 to 100 years ago, at what stage (and in what year) are we at when compared with that period? Last time, the behind-the-scenes goal (or perhaps one of the goals) was the setting up of the Fed. If there really are shadowy figures behind the scenes pulling the strings, what's their plan this time? When we look back at now, what will we realise they've achieved that our current situation is greasing the wheels for? Link to comment Share on other sites More sharing options...
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