Posted on 09/01/2009 8:56:33 PM PDT by Errant
China threatens to repudiate derivatives contracts and the market floats on air - until today, when suddenly the fake "buying" (that is, computer passing of shares back and forth) in bankrupt firms (AIG, Fannie and Freddie specifically) disappears in a puff of smoke and oops - down she goes!
Frightening.
Ive been waiting for this shoe to drop for a year.
Agree, It may stumble on a bit longer but in the end, it will fall.
I have said for a long time this goes back to derivatives, and derivatives of derivatives that the banks came up with to cover their asses on risk over Dem/Gov forced loans, but where was The SEC when we had the house? The Dems lit the fore, but we failed to put it out.
I suspect that by the end of the fiscal year, they wont be able to fudge the books any longer.
But they fudged them last year with a bail out. The whole thing looks like a lead balloon to me at this point
It may be “Katy Bar the Door” once it starts down this time. From the charts I’ve seen, it’s following the great one almost exactly.
Isnt The new “Ginnie Mae” assuming Fannie and Freddies liability now? More BS
I love Karl. Always well thought out reasoned opinions that I believe are usually spot on. The 50% move up in the stock market in the last 6 months has been orchestrated by the fed and treasury via accounting rule changes, a phony bank industry stress test. In short, more fraud, not by bankers this time, but by agencies of the gov’t. They are terrified. Don’t you be too. A 50% up move in 6 months. Go to the sidelines FRiends.
I have been moving my cash assets over to physical gold and silver (Ammo is just too bulky, but I have plenty). What I don’t know what to do with is my 401k, it has recovered half of what I lost last year (40%). I damn sure don’t want to move it to a money market and I would like to limit my exposure to stocks as much as possible. I may just pull it all out in January and take the hit, if SHTF does not happen before then.
Stick the money in cash or t-bills
Thanks for that. I have similar stuff, not in video but chart form. This autumn will be a time to remember.
It seems we’re in the eye of a perfect storm on every horizon. It sorta just developed around us!
I plan on alternative energy and farming equipment purchases very soon. Also some improvement and additional storage expenditures.
Swine flu stock options. $$$.
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