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"NO BID" threat looming. When the computers stop trading...any tradable funds may drop to zero!
Ms Sans Serif
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[quote:Anonymous Coward 2836766:MV8yMDQ4NTczXzM0NDI2MjUxXzkzRjZFMUZF] [quote:Anonymous Coward 203360:MV8yMDQ4NTczXzM0NDI2MDk3X0Q1QTRERkE5] One could argue that the "younger" can still work in slave labor camps, yes, until they collapse ro death, they probably can work a bit longer than the old. But then what is the point? What kind of world are you creating here where the only future jobs MAY be slave labor like in China. Cull the old, so that the new generation can be slave laborers who want to jump out the window if they don't get double Zoloft pronto. [/quote] Sorry for the snark - I think we're on the same page (and I am part of the cull too)... the problems of today just don't lend themselves to hyperbolic overkill because everytime you think you've come up with some fresh Swiftian outrageous satire realty picks up the slack and outpaces you 10:1! (e.g. suicide prevention nets as a management response to requests for "improved" working conditions!) Suffice to say we are all in a world of trouble and the hits just keep coming! [/quote]
The Greece emergency domino effect could be just around the corner...
According to rumors from the "pit", computer analogs are now trading the vast majority of the action we see. In the event of a "meltdown", the computer action would get shut off and you may very well have a case of "no bid" on any tradeable entity including most "funds" of folks savings entities.
What this means is that since banks are SO LEVERAGED RIGHT NOW (they are way past bankrupt), the value you see on your account is actually FICTITIOUS and could be wiped to "0" in an instant. This can happen when there is "no live body" in the trading pit to give a bid to buy your funds and this means "no bid" which drops that stock to "0" value, which is much closer to the true value anyway.
This kind of thing happending en masse is a very real possibility and would give financial institutions a "way out" of and "unsecured" funds, in other words they would love to NOT HAVE TO PAY on these funds and do it legally. This is how you can be legally dropped to zero overnight.
You thought getting whacked HALF in 2008/2009 was bad?... The only modest protection you have is "cash in hand" and anything you could guarantee as a "secure entity" (not many of these exist now). The buying power of cash would also be greatly diminished in such an emergency, but something is better than nothing.
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