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To: Wneighbor

Serves her right for not getting on here and posting. She is signed up! <<<

I can hear her in my mind...LOL


1,502 posted on 02/16/2009 3:48:41 PM PST by nw_arizona_granny ( http://www.freerepublic.com/focus/chat/2181392/posts?page=1 [Survival,food,garden,crafts,and more)
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To: nw_arizona_granny
Serves her right for not getting on here and posting. She is signed up! <<<

I can hear her in my mind...LOL .

I will have to think on emailing her the link to that post. It would be funny to do that but my birthday is next month and I wouldn't want to ruin my possible visit. LOL

1,507 posted on 02/16/2009 3:54:16 PM PST by Wneighbor
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To: nw_arizona_granny; Quix

This is scary:

http://www.abovetopsecret.com/forum/thread437754/pg1

Market Ticker - Source
8:17 CT

I do not know what is going on here, and I don’t think I want to.

Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.

It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.

At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds “not that big” to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.

There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not “automatic selling”; this is forced liquidation.

Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart “all at once.”

The worse news is that if this happens Bernanke will have killed us (in the US) by extending those swap lines all over the planet during the last six months. These will become utterly uncollectable and they are massive, in the many hundreds of billions of dollars.

To those who are reading this, I hope if you’re in the markets you are prepared for extreme levels of violence. You must expect that the authorities will try to arrest the destruction if they are able, but you must also be prepared for the possibility that we have reached a “critical mass” point beyond which “duck and cover” is the only winning strategy.

Unfortunately.

That comes from Karl Denninger.
http://market-ticker.org/archives/801-RED-ALERT-FX-Dislocation-In-Process.html

Will this reverse before our markets open in the morning, or are we going to see something really ugly??

I don’t know, only time will tell


Thanks for the link, Quix


1,587 posted on 02/16/2009 9:48:01 PM PST by TenthAmendmentChampion (Be prepared for tough times. FReepmail me to learn about our survival thread!)
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