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US stock futures waaaaaay down DOOM ON
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[quote:Saddletramp:MV8yMDg5MDYxXzM1MTc2NzU2XzlGQjg5Mzg0] [quote:Anonymous Coward 28621700:MV8yMDg5MDYxXzM1MTc2NDIxXzRDREIyRUI5] [quote:Saddletramp:MV8yMDg5MDYxXzM1MTc2MTgxX0IwRkYwNEQ4] [quote:Anonymous Coward 28621700:MV8yMDg5MDYxXzM1MTc2MDAxXzc5RTRFNEU3] [quote:Saddletramp:MV8yMDg5MDYxXzM1MTc1NzAzXzgwMTAzQ0Ew] [quote:Anonymous Coward 16477649:MV8yMDg5MDYxXzM1MTc1NTg5X0FCOTg4QkQ4] [quote:Anonymous Coward 29271249:MV8yMDg5MDYxXzg4MThBMjMw] S&P -26.60 / -1.85% Data as of 8:21pm ET Nasdaq -43.50 / -1.62% Data as of 8:21pm ET Dow -271.00 / -2.04% Data as of 8:20pm ET http://money.cnn.com/data/premarket/ [/quote] :bsflag: [/quote] A BS Flag for quotes...interesting... I think you could see a 500 point or more drop tomorrow...last day of trading before Christmas... [/quote] Saddle, as you know if they want it to drop it -500 tomorrow it will ! [b]The natural price discovery mechanism's have been removed from the market[/b] [b]"[u]entirely[/u]"[/b] The price of everything must be hammered to paint a pretty chart for the chartists to talk about for the next year. Inflation ? What inflation, let's look at the chart ! [b]Priceless[/b] !!!!!!!!!!!!!!! [/quote] That's why I only rarely play equities anymore... As for inflation, the commodity markets have been showing increasing deflationary pressure all this week, and that is a bit worrisome after the Fed's QE4eva program they announced last week. I think the next "inflation" we see could be "Hyperinflation", which is not growth at all, but a total collapse in confidence in the currency... Probably when China finally announces Gold Backing for the Yuan... Still, while they may let the market swing wildly to influence FIscal Cliff negotiations, I still believe the real fireworks aren't until after the 1st of the year... [/quote] I wanted to ask you saddletramp, what your thoughts on the Queeen of England were regarding her tour of the Gold vaults and declaring that it's "all" there...........see. Could the 11 countries that are committed to the implementation of the Basel 3 accord change the tier asset category for Gold from a tier-3 (50% weighting to their balance sheets as an asset) to a tier-1 (100% weighting on the balance sheets) on about the first of January ? Something is up with Gold.........I smell it ! Sooner or later they are going to deploy that Gold they have been hoarding all while poo-pooing it. From Yahoo News AS ONE of 11 Basel Committee on Banking Supervision member countries, South Africa would be ready to implement tougher capital adequacy reforms for banks from next month. Africa’s largest economy has finalised its rules, which were submitted to Finance Minister Pravin Gordhan for approval. The country’s banks join those from Japan, Switzerland and Singapore, among others, that have also raised their capital buffers, the Basel Committee said last week in a progress report. The report was issued after the committee met last Thursday and Friday to discuss the progress of its members in implementing capital adequacy reforms, which are meant to strengthen bank balance sheets. The reforms require global banks to at least triple their capital buffers in stages until 2019. http://za.news.yahoo.com/banks-sa-ready-basel-3-rules-064947248--finance.html [/quote] Basel III is going to be a bigger driver in the economy than Basel II mark to market was in 2008! Some of these banks are going to have to undergo massive deleveraging to get to Basel III standards, and you are right, they are going to have to buy at least enough Tier I assets, like gold and liquid AAA securities and equities to operate for one month in the event that all credit to the bank is "cut off". Sounds a bit like they are planning for something... I think the Queen's tour of the gold vaults on TV was for public consumption, to convince them that they do indeed have some gold still in the vaults when currencies begin to swing from fiat to commodity backed currencies...at a discount from the old fiat currencies of course, ($200 old for $100 new, or something like that). The Queen's tour was a bit too much like the Fed's surprise audit of their gold holdings last year for comfort... [/quote]
S&P -26.60 / -1.85%
Data as of 8:21pm ET
Nasdaq -43.50 / -1.62%
Data as of 8:21pm ET
Dow -271.00 / -2.04%
Data as of 8:20pm ET
link to money.cnn.com
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