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Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn
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Manic Monday
User ID: 321924
11/4/2007 11:57 PM
Report abusive post | Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn
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I work with these guys and they're eating Provigil like candy. I heard this all weekend: 1929.
The dollar is about to become asswipe.
I'll be doing some serious drinking later today. If we survive. |
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Dr. No
User ID: 321912
11/4/2007 11:59 PM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
I look foward to todays events. |
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EricTheAwful
User ID: 296455
11/5/2007 12:00 AM
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[link to www.youtube.com]
As a man begins to live more seriously within: He begins to live more seriously without. |
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Anonymous Coward
User ID: 318333
11/5/2007 12:02 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
I'm sure things will be fine. |
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Manic
User ID: 321924 (OP)
11/5/2007 12:02 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
I look foward to todays events. Quoting: Dr. No
I don't. LOL
It's six in the morning here and I'm not the first in the office. Fortunately we don't have a train strike today, otherwise the guys would have been camping here overnight. |
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Dr. No
User ID: 321912
11/5/2007 12:03 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Honestly, whatever happens, happens. What can be done to stop the motion of whatever may or maynot happen? |
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Manic
User ID: 321924 (OP)
11/5/2007 12:14 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Honestly, whatever happens, happens. What can be done to stop the motion of whatever may or maynot happen? Quoting: Dr. No
We've done the best we can, but still expect the worst.
We're an investment group in Frankfurt, affiliated to a major German bank, so the core of our business looks pretty safe (maybe). We took the heat off of some of our more volatile portfolios last month by consolidating them with classic (but low-growth) stock, but we're still quite exposed on the securities lending and repo front ... and some other stuff.
Three banks in Germany are in serious trouble (shhhhh!) -- and those aren't the Landesbanks that have been in the news because of their subprime woes -- and I know at least two brokers involved with them have lost huge amounts of weight.
Will be an interesting day ...... |
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Dr. No
User ID: 321912
11/5/2007 12:16 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
we should start trading shells again |
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Anonymous Coward
User ID: 321285
11/5/2007 12:20 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Keep us posted OP. |
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Manic
User ID: 321924 (OP)
11/5/2007 12:21 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
we should start trading shells again Quoting: Dr. No
No choice if we're shipwrecked. |
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Manic
User ID: 321924 (OP)
11/5/2007 12:23 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Keep us posted OP. Quoting: Anonymous Coward 321285
Things might go quiet after eight o'clock, but I'm not the one taking the heat so I'll probably get a chance. |
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Manic
User ID: 321924 (OP)
11/5/2007 12:30 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
One of the guys here is saying that Barclays (UK) is in deep trouble and may need a BoE bail-out. If that's true we can expect some serious S to HTF because that may be enough to bring the whole show crashing down. |
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deepend 
User ID: 294892
11/5/2007 12:32 AM
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OK, let's see how many billions get pumped into our economy from other countries whose economies suck worse than ours. I wonder how Europeans feel about that.
^^ gravity is a harsh reality. ^^ |
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Anonymous Coward
User ID: 2048
11/5/2007 12:33 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
1929 eh? Sounds like a good way for BushCo to keep in power. You know, state emergency and all. |
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Anonymous Coward
User ID: 316604
11/5/2007 12:35 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Not another "its Sunday night and the markets are going to hit the fan Monday morning" thread. YAAAAAAAWWWWWWWNNNNNNNN!!!  |
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Manic
User ID: 321924 (OP)
11/5/2007 12:41 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
OK, let's see how many billions get pumped into our economy from other countries whose economies suck worse than ours. I wonder how Europeans feel about that. Quoting: deepend
Europe's pretty strong at the moment, especially Germany, Scandanavia and the Benelux countries. But if there really is a 1929-style crash this week, then we're all fucked.
Back in the states it'll be every man grab a gun. The Germans have an emergency plan (secure the supermarkets, gas stations, etc) and throw welfare at everyone. Europe will go socialist overnight and cut special deals with Russia and China. The French will riot. The Brits will pull out of the EU. |
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Anonymous Coward
User ID: 294846
11/5/2007 1:03 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
One of the guys here is saying that Barclays (UK) is in deep trouble and may need a BoE bail-out. If that's true we can expect some serious S to HTF because that may be enough to bring the whole show crashing down. Quoting: Manic 321924
Ouch. Didn't China just buy a huge stake in Barclays? That's got to hurt. If I were China, I wouldn't even bother. Just start buying tangibles--PMs, guns and ammo, and oil companies. |
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Manic
User ID: 321924 (OP)
11/5/2007 1:06 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
oil companies. Quoting: Anonymous Coward 294846
Refitting, maintenance, specialist engineering services. |
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Anonymous Coward
User ID: 52612
11/5/2007 1:31 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
OK, let's see how many billions get pumped into our economy from other countries whose economies suck worse than ours. I wonder how Europeans feel about that.
Europe's pretty strong at the moment, especially Germany, Scandanavia and the Benelux countries. But if there really is a 1929-style crash this week, then we're all fucked.
Back in the states it'll be every man grab a gun. The Germans have an emergency plan (secure the supermarkets, gas stations, etc) and throw welfare at everyone. Europe will go socialist overnight and cut special deals with Russia and China. The French will riot. The Brits will pull out of the EU. Quoting: Manic 321924
Drool.... tempting tempting... don't make me mad OP.. I would love to see the EU crash |
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Anonymous Coward
User ID: 270938
11/5/2007 1:35 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Interesting thread op, keep us posted.
Over here in the states, I hear that the Bennie and the Fed are trying to crash the dollar as quickly as possible to somehow wipe out our national debt and usher in the Amero.
It's kind of like when we were a kid and we were playing a board game like Monopoly or Risk and we knew we were losing so badly that we didn't have the slightest chance of winning. We would get so pissed that we would just flip the damn game board over, piss all the other kids off and eventually start a new game. I think that's the Fed's game plan. They know they have lost.
any opinions OP or about this:
[link to www.youtube.com]
What would make this evil bastard act like this? Except that he knew HIS agenda was defeated!
Watch this one too:
[link to www.youtube.com] |
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Manic
User ID: 321924 (OP)
11/5/2007 1:49 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Interesting thread op, keep us posted.
Over here in the states, I hear that the Bennie and the Fed are trying to crash the dollar as quickly as possible to somehow wipe out our national debt and usher in the Amero.
It's kind of like when we were a kid and we were playing a board game like Monopoly or Risk and we knew we were losing so badly that we didn't have the slightest chance of winning. We would get so pissed that we would just flip the damn game board over, piss all the other kids off and eventually start a new game. I think that's the Fed's game plan. They know they have lost.
any opinions OP or about this:
[ link to www.youtube.com]
What would make this evil bastard act like this? Except that he knew HIS agenda was defeated!
Watch this one too:
[ link to www.youtube.com]
I'll watch those vids later because I have to make busy soon.
However, you're right about the "game" the Feds are playing. We've known it for a long time: it's been poker ever since 2004 (earlier for many others).
The Amero (or something like it) has been in the cards for a long time and it's planned as the currency for the North American Union (merging the US, Canada and Mexico along the lines of the EU).
There are obvious benefits short term for the US economy, but you'll also see high inflation and loss of purchasing power for the average consumer too. It'll also mean the end of interventionism (a good thing) and the return to a multipolar world (good and bad).
I'll be returning the States anyway next year, so I'm hoping for the best.
One thing is certain, however: Things are about to change quite dramatically. I don't expect to be doing this job six months from now.
Talk to you later. |
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LAUGHING AT LAZY JEWS
User ID: 314551
11/5/2007 2:09 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
DIE BANKER AND BROKER SCUM, DIE!
LOL.
COULDN'T HAPPEN TO A NICER BUNCH. |
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Anonymous Coward
User ID: 270938
11/5/2007 2:27 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Well today could be quite interesting.
Over on the Ticker Forum:
[link to www.tickerforum.org]
Ha! Just wanted to drop by for a dram and some chat. Yahoo boards are mostly populated by retards but can offer some fun banter. This little oasis was my home away from home until the landlord evicted my good self. So as long as time allows I'll give you all the wisdom this sage contains. Have you all completed your check lists? .223 12 guage 9mm? Spam? TP for your bung holes and barter? Just checking. Me thinks the time has come and the critical mass has been reached. I expect a cascade of shit to fall from the heavens in the days to come and if you remember my musings....it will end most badly. |
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Anonymous Coward
User ID: 270938
11/5/2007 2:52 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
The OP knows of what he speaks. . .
Phillip Inman
Friday November 2, 2007
[link to business.guardian.co.uk]
Guardian Unlimited
The City was swept by rumours today that another British bank was in trouble after Northern Rock indicated it was not the only bank borrowing from the Bank of England's rescue fund.
Northern Rock has borrowed only £18bn of the £23bn lent by the Bank of England from its emergency loan fund leading to speculation that other British banks need £5bn of extra funds to cope with the global credit crunch.
The chairman of the Newcastle-based bank confirmed the level of borrowing from the central bank was below £20bn in an interview with the Newcastle Journal. Sources close to Northern Rock indicated the figure was closer to £18bn as the need for borrowing in the last few weeks had been lower than the scramble for funds in the immediate aftermath of the bank's near-collapse in September.
While there may be technical reasons for some banks drawing on the Bank of England's funds overnight, most experts said the scale of the borrowing indicated one or more banks was using money from the central bank to prop up their businesses. Banks would only borrow from the Bank of England if they had exhausted other sources of credit as it insists on charging a penal rate of interest and only accepts the highest grade collateral, usually government bonds.
<b>Barclays was today the subject of intense speculation in the City after its share price sank by 6% as investors worried about its financial stability.</b>
<b>Shares in Barclays, which generates £4 of every £10 in profits from its investment banking and fund management businesses, fell as much as 8% at one point to hit a two-and-a-half year low over fears about funding problems and speculation it was secretly predicting a dip in profits.</b>
The Bank of England declined to comment on Barclays, but said it had not made any emergency loans via its rescue fund on Thursday.
Barclays, which issued its latest trading update just three weeks ago, declined to comment. Stockbroker analysts said the bank was busy paying cash to its shareholders in the form of a share buy back programme, which would be hard to justify if it was borrowing from the Bank of England at a penal rate.
Barclays's head of retail operations also spent £700,000 of his own money yesterday to buy 127,000 shares.
Other banks, including Royal Bank of Scotland and Alliance & Leicester, also suffered large falls in their share prices as the City share dealers scouted around for the most likely candidates.
Banks have suffered a week of volatile share trading as their US counterparts revealed further losses from the US sub-prime lending crisis. Merrill Lynch parted company with its chief executive this week after the bank was forced to write down liabilities of almost $8bn (£4bn) as many of the mortgage assets on its books turned out to be almost worthless.
British banks have so far revealed only minor losses from the sub-prime crisis in the US, but have been caught in the resulting credit crunch which makes it difficult for them to borrow money.
Northern Rock informed the chief City watchdog in the middle of August that it could run out of cash following the credit crunch. It almost collapsed in mid September after news that it was seeking rescue funding from the Bank of England caused savers to withdraw cash. It is understood almost £5bn in savings was withdrawn from the bank.
Figures released by the Bank of England yesterday showed that total borrowing from its rescue fund had reached £23bn. The scale of the borrowing sparked speculation that Northern Rock could find itself needing as much as £40bn when the penalty rate facility expires in February.
In an apparent bid to quash further speculation the bank's new chairman, Bryan Sanderson, said its total borrowings were less than £20bn and unlikely to top £25bn. He also warned that jobs cannot be guaranteed as the bank heads towards an "increasingly likely" sale.
Mr Sanderson, a former chief executive of Standard Chartered bank, stepped out of retirement to take over from the ex-chairman, the science writer Matt Ridley. Mr Ridley resigned last month after a parliamentary Treasury select committee hearing during which he was accused of allowing the bank to borrow funds on the international money markets without considering the financial consequences.
Mr Sanderson said he would be sending information packs to potential bidders, including Sir Richard Branson's Virgin group and several private equity firms. |
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Solve_et_Coagula
User ID: 295097
11/5/2007 3:02 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Dillon, Read & Co. Inc. and the Aristocracy of Stock Profits
by Catherine Austin Fitts
This is a historic documentation about the current international economic melt down, coup organisation, Identities, tricks and timelines of the international elite. It's long and complete - save it to disc. It speaks about who is profiting from drugs and the privatisation of prisons and follows the $highway all the way.
[link to www.dunwalke.com] |
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Anonymous Coward
User ID: 231958
11/5/2007 3:11 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
DIE BANKER AND BROKER SCUM, DIE!
LOL.
COULDN'T HAPPEN TO A NICER BUNCH. Quoting: LAUGHING AT LAZY JEWS 314551
that's right, let's free up even more market share for the private business sector you corporate pirates. |
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Anonymous Coward
User ID: 279081
11/5/2007 3:12 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
I agree this is the grandstand move to usher in the Amero..its coming guys.. |
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Anonymous Coward
User ID: 231958
11/5/2007 3:16 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
DAX up over 25% for the year and due for a correction imho.
[link to finance.yahoo.com] |
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Anonymous Coward
User ID: 299916
11/5/2007 3:21 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Safor EUR/USD down to 1.4460, XAU/USD down to 802 |
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Anonymous Coward
User ID: 270938
11/5/2007 3:22 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
Swiss watchdog sees no total UBS subprime writedown
4 Nov, 2007, 2115 hrs IST, REUTERS
[link to economictimes.indiatimes.com]
ZURICH: It is unlikely that UBS will need to write down its entire $39 billion exposure to the US subprime residential mortgage market, Switzerland's banking watchdog was quoted as saying.
In a rare public comment on the position of an individual bank, the head of the Swiss Federal Banking Commission (EBK) also told a Swiss newspaper UBS had strong cash flows in its units outside the investment bank.
"A total loss of the ($39 billion) position is unlikely," Daniel Zuberbuehler was quoted by Sonntag newspaper.
"Moreover, one needs to take into account the very strong income positions of the other business units. These remain very high," he said in the Swiss newspaper.
UBS on Tuesday posted a bigger-than-expected third-quarter loss in the wake of $3.6 billion in writedowns in its fixed-income portfolio and elsewhere. At that time, it also gave details of its remaining $39 billion subprime exposure.
UBS declined to comment on another report by the newspaper, which said that Chairman Marcel Ospel would be forced to leave if write-downs totalled 10 billion francs ($8.66 billion). The newspaper did not give its sources for the story.
Last weekend, the same newspaper said UBS was facing further write-downs, triggering the bank to release a statement on Monday in which it said further writedowns were possible, but that it stuck to its third-quarter guidance.
Edit/Delete Message |
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Mark In NYC
User ID: 309319
11/5/2007 3:22 AM | | Re: Frankfurt DAX -- Traders in early morning panic -- Expect "carnage", massive dollar burn | Quote |
I have a couple of friends who are administrators of the Amsterdam exchange. I got an email from one that was sent at 8:40 AM Monday Morning -his time. It was 11:45pm Sunday Night-the night before here in CA when I saw it. He spoke of anticipated meltdown of UK and the Dutch markets both this week. Probably starting on Monday until the automatic interrupt programs kick in and stop trading to allow for a cooling down period of a few hours. Jan (my buddy) also said that huge amount of cash had been pumped into the markets there on Friday by "unknown" sources. Unknown, but not Dutch Nationals - that much he is certain of.
The other friend was far more cryptic in his note. He knows I've got some money in a couple of Dutch banks in Euro denominated accounts. This is an amount of money I made when I bought an apartment in Holland, lived in it for three years, and then moved back to the US. The apartment didn't sell for almost a year after we left, so we rented it out for a short term lease (6 months) and at the end of the lease the tenant decided to stay in Holland, renewed his contract with his US employer and bought our apartment. When the escrow closed I had made a tidy sum and decided it was a good idea to have some cash offshore in case I wanted to buy European real estate or something else later when I was back in Europe. The interest rate on the 3 year CD's of over 500,000 Euros are very much more attractive than the rates I could get in the US banks, so it's a no-brainer to leave the money there growing since 2003. The initial interest rate I got in 2003 was over five percent. When I renewed the CD's in 2006 it was still almost as high and so I took it. I can borrow against it or break into it for a penalty of a few months interest being forfeited, so it's not a huge tie-up of the money. Since the gain was from my principal residence and when I cam back to the states I bought another home of a large enough value to cover my European gains that I did not owe much in US taxes on the money and the portion of it that was taxable was included on my 2004 or 2005 tax return. So I don't owe any further tax on the money except for the interest earnings and I've paid those annually too. If I wanted to move the money back to the US it would simply be a wire transfer to my US accounts and the penalty of interest forfeiture if any.
Bottom line is that the buddy who knows I've got this money and who's been nagging me for years to not speculate with it but to take the sure and safer route to growth of the cash - his cryptic advice was: Still have your Euros at Rabo? If so, keep them there for a few more weeks. It' going to be a bloodbath here, Frankfurt on the DAX, and in NY & US as a whole. You're Euros can keep some of you money safe and growing for a while. If you'd been paid in dollars and taken the cash back to the US - you'd have lost over 1/2 of it's value by now! Without ever spending a dime of it." He went on to say that he felt that: "When the worst is over you should be able to pick up some serious amounts of still viable stocks here for less than their cost today - less by 1/3 to 1/2 or even more! They'll re-climb to their previous levels on the European exchanges but the US DOW is going to tank for a while. A long while."
Not great news I'll admit. Having a few bucks in Euro's right now makes me feel a whole hell of a lot safer than having most of my retirement money in the US and in US Stocks.
Life really is a banquet - and truly - most poor sucker are starving! Enjoy the ride baby. |
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