IT'S even worse than was thought!!!!
Posted on 08/21/2015 1:18:44 PM PDT by SkyPilot
U.S. stocks closed deep in the red on Friday as global growth concerns accelerated selling pressure to push the Dow into correction territory.
The Dow Jones industrial average closed at session lows, off 531 points and in correction territory for the first time since 2011 as all blue chips declined. The last time the index closed more than 500 points lower was on Aug. 10, 2011. In the last five years, the index has only had four instances with closing losses of more than 400 points.
"For investors the momentum and the drive of the market is now lower (than) it used to be because there's no place to hide," said Lance Roberts, general partner at STA Wealth Management. "Every time we hit the major technical points we kept selling."
A traders noted that investors stopped looking at techincals and were plowing through them.
"It's an expiration day and it looks like they're to have for sale on the close maybe as much as a billion dollars," said Art Cashin, director of floor trading for UBS.
(Excerpt) Read more at cnbc.com ...
Ping!
This just reminds me. I sure miss Lou Rukeyser. He would have worked a million dollars worth of puns into his opening monologue after a week like this.
And...
Here’s the link for the evidence in the information from the “Bank for International Settlements,” as mentioned in the full version of the excerpted article linked above.
http://www.bis.org/publ/otc_hy0805.pdf
...and a quote from it.
“The over-the-counter (OTC) derivatives market showed relatively steady growth in the second half of 2007, amid the turmoil in global financial markets. Notional amounts of all categories of OTC contracts rose by 15% to $596 trillion at the end of December (Table 1), following a 24% increase in the first half of the year.1”
More on what happened in 2007-2008.
China’s imploding US ally (AIG)
http://www.freerepublic.com/focus/f-news/2084468/posts
AIG: Inquiring Minds Want To Know
http://www.freerepublic.com/focus/f-news/2192489/posts
(China)
Fed won’t say who helped by AIG rescue
http://www.freerepublic.com/focus/f-news/2200398/posts
Top U.S., European Banks Got $50 Billion in AIG Aid
http://www.freerepublic.com/focus/f-bloggers/2201213/posts
China appeals to Washington to safeguard assets
http://www.freerepublic.com/focus/f-news/2205693/posts
U.S. Federal Reserve to buy up to US$300B long-term Treasury bonds
http://www.freerepublic.com/focus/news/2209403/posts
I would agree Roman.
That was written last year - they were prophetic.
Does someone have a gun to the head of Joe Schmoe forcing him to sell?
James Rickards, who wrote "The Death of Money" a few years ago (he was also a Wall Street insider and financial analyst for the DoD and CIA), said the stock market could (could) plunge 70%.
http://moneymorning.com/jim-rickards-coming-great-depression/
I have read some of his articles and watched interviews with him. He isn't a half-cocked alarmist, but a very sober, logical man.
Rickards has been saying for years that the "re-set" (if there will be one and I think there will) is going to have to come from the IMF.
The currency of the IMF is the Special Drawing Right (SDR). Rickards says they could call it "global money" but that is too spooky.
I believe the SDR will be the basis for the new world government and world currency.
If Pope Francis backs this plan in September in his address to a Joint Session of Congress on the 24th, and his address to the United Nations on the 25th, fasten your seatbelt.
I wish I could post the Federal Reserve Balance Sheet along side the Dow Jones Index here
Eerily, both charts take the same path.
I’m guessing the Antichrist’s and the False Prophet’s Mark of the Beast will rely on electronic “banking” to be the only acceptable system. After pledging allegiance to Satan via the 666 Mark of the Beast.
No gold reserves factored in (if anybody still has any), no silver, etc.
Which is probably why the Bible says they throw their gold and their silver into the streets during those days.
The headline is accurate.
A "correction" is considered to be a drop of 10% or more off the high. The Dow is down 10.1%, and the NASDAQ 10.3%. The S&P is off only 7.3% from its high, so they rightly left it out.
I have seen the chart you referenced, and yes, they parallel. The game is about to change, however, the goal is worldwide economic slavery this time.
I agree. I still believe that Obama may outlaw the possession, transfer, or sale of gold via Executive Order, as FDR did in 1933. In the near term, gold hedges your wealth, but it leaves the government with less control. The Antichrist’s global government must have complete control. However, you are correct about what Scripture says about gold’s worth at some point. Also, the 10 Kingdoms must rise at some point, and I am not sure what they will be. after those are established, the Beast will make his move for total control.
>>hilarious watching the media call a 3% drop a “correction”.<<
10% since the May high of 18300.
Much better
This has to be one of the worst booms ever.
Thanks for the James Rickards info. I’ll read more.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.