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"NO BID" threat looming. When the computers stop trading...any tradable funds may drop to zero!
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[quote:Daughter:MV8yMDQ4NTczXzM0NDI4NTM1XzI3NTFFM0Q3] [quote:IssueX:MV8yMDQ4NTczXzM0NDI2ODk2X0FDQjBCRTg3] [quote:Anonymous Coward 23992770:MV8yMDQ4NTczXzM0NDI0MTQwXzU1QTU5NkZC] [quote:Serendipity 25458009:MV8yMDQ4NTczXzM0NDI0MDE2X0MwNzNBREJD] [quote:Anonymous Coward 23992770:MV8yMDQ4NTczXzM0NDIzODkwXzcyMERFQjgw] [quote:Anonymous Coward 26120291:MV8yMDQ4NTczXzM0NDIzNzAxX0RGOTQyNzYy] One solution, well two actually. Gold/silver [/quote] Don't put too much faith in this. Whilst gold and silver have had a certain stability to them in the past because they are a physical and scarce 'real thing', they won't save any of us from the future. The system is so out of whack, and the issues driving it all are so vast and detached from any conceivably sustainable system that it will still fall apart. You see what most people are not factoring in is that there are hundreds of millions of disenfranchised younger people (by younger I mean forty and younger) right across the western world who really couldn't give a crap about the security of Boomer's investments. When the reality of their future finally dawns on them those people will rip this society limb-from-limb in a violent convulsion of rage and despair. It won't matter if you have gold assets or silver because the entire fabric of the system, and its infrastructure is going to be destroyed. The only questions really left are when will the spark come that ignites the inferno, what alternative ideologies will present themselves and vie for power, and how long will the chaos last? [/quote] Wow, where did you come from? And do you hang out here very often? [/quote] I do tend to spend a little time each day lurking around GLP. Its kind of like an addiction that I can't kick (I don't join because Trinity keeps banning my IP). [b]Its fascinating to read the rantings of so many people who are totally deluded, clinging the old 'certainties' yet ignoring the growing tide of anger and disillusionment that is permeating through all western societies.[/b] [/quote] this is truth this is why I sold our house in 2006 and did not purchase another one just think of the fact there are fewer young people than boomers...that those young people will NEVER live as well, earn as much, save money as the boomers did that those young people are 10x deeper in debt just to go to college, have emerged into a world where they are earning less yet paying 500% more for just about everything needed to live than the boomers did How the fuck is this system going to support houses that cost $500-$1MM in most urban areas of the USA? That is just the beginning The fact that this house of cards has not blown over so far has given many who were nervous a new false sense of security...and because of this more and more people - even the cautious - are being sucked into the casino this is always the last phase of a blow off...when even the previous bears capitulate and join the market ...just before the implosion sorry , just the way I see it, and I'm willing to eat all the losses if I'm wrong and a huge bull market is about ot start but frankly, given global demographics, global consumer debt levels, global government debt levels, I think we're about 5 minutes from midnight :hiding: [/quote] I hope you bought things to survive with, because you don't have a home somewhere, gas is more than likely going to be gone or so rare that you won't be able to get anywhere. A mule and wagon or a cut down small car will work. [/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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