CNBC: Bailout will cause Depression. Central Banks Supressing Price of Gold

13

Comments

  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    MrSmith wrote:
    I've been on vacation/evacuation since last week, and have been too drunk to check the news. any interesting financial news i should know about? probably nothing.

    ROFLMAO.
    thats a joke right?

    Sure. Yeah. Nothing.
    One major investment bank failure (lehman brothers)
    One major brokerage sold to BoA (Merril Lynch)
    One major insurance company on the brink of death,
    and one major bailout of said company (AIG)

    The Federal Reserve is almost out of treasury bills.
    The Government is contemplating the most massive general financial bailout in history

    and the Russian stock market was shut down two days running,
    after a gianormous slide in their securities value.

    Oh.
    And over a trillion dollars in value vanished in thin air over the course what is probably runner up for the worst single day in stock market history on the NYSE.

    Funny joke though.
    ;)
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • LikeAnOpeningBandForTheSun
    LikeAnOpeningBandForTheSun Posts: 6,097
    DriftingByTheStorm wrote:
    ROFLMAO.
    thats a joke right?

    Sure. Yeah. Nothing.
    One major investment bank failure (lehman brothers)
    One major brokerage sold to BoA (Merril Lynch)
    One major insurance company on the brink of death,
    and one major bailout of said company (AIG)

    The Federal Reserve is almost out of treasury bills.
    The Government is contemplating the most massive general financial bailout in history

    and the Russian stock market was shut down two days running,
    after a gianormous slide in their securities value.

    Oh.
    And over a trillion dollars in value vanished in thin air over the course what is probably runner up for the worst single day in stock market history on the NYSE.

    Funny joke though.
    ;)

    I'm gone one week and the entire country goes to shit!

    i am sorry, America.
  • sponger
    sponger Posts: 3,159
    Actually, yes, government bailouts are a very bad idea in more ways than one. And no I am not a fear mongerer.

    In fact, the fact that these big financial giants expect the government to bail them out just goes to show that a lot of these white collar conservative republican wall street fat cats are really communists/socialists at heart, and tout capitalism only when things are going their way.
    reigning champion

    http://forums.pearljam.com/showthread.php?t=272825
  • SpreadtheJAM
    SpreadtheJAM Posts: 344
    No more shorting financials. What will all you nay-sayers do.
    BORGATA>VIC
  • YieldInHiding
    YieldInHiding Posts: 1,841
    http://www.reuters.com/article/businessNews/idUSL267843520080919

    Wall Street surges at open on stability plans
    Fri Sep 19, 2008 9:41am EDT

    (Reuters) - Stocks soared on Friday, extending gains posted in the prior session, as investors cheered a series of steps by governments worldwide to contain the spiraling credit crisis.

    Financials led the rally, which added to gains posted on Thursday, Wall Street's best day in six years. The Nasdaq was up more than 5 percent while the S&P 500 added more than 3 percent in the first minutes of trading.

    Investor spirits rose after U.S. authorities, led by Treasury Secretary Henry Paulson, said they were working on a plan to mop up hundreds of billions of dollars of bad debt from banks' balance sheets.

    The Dow Jones industrial average was up 251.27 points, or 2.26 percent, at 11,268.35. The Standard & Poor's 500 Index was up 36.76 points, or 3.05 percent, at 1,243.27. The Nasdaq Composite Index was up 112.31 points, or 5.11 percent, at 2,311.41

    (Reporting by Steven C. Johnson; Editing by Kenneth Barry)
    No longer overwhelmed it seems so simple now.
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    SpreadtheJAM wrote:
    No more shorting financials. What will all you nay-sayers do.

    Leave my money on the sideline until Octoberr 2nd when the ban ends.

    And it is a ban on "naked swaps" only, anyhow.
    Which is to say, it is a ban on something that is TECHNICALY illegal anyhow,
    and something only very large institutions do between their own associate firms.

    If i were to call up my broker and put on a short, or go on to a trade program and execute a short, i would still be able to do that.

    The fundamental premise driving a "Short" position is that i SELL SOMEONE ELSES STOCK and then buy it back on the market, and REPLACE their stock with the one i bought backs, and they never know the difference.

    In a naked short a large institution sells NOTHING ... they just lie ... it is essentialy a phantom transaction, and it is a bunch of bullshit.

    ;)
    PS. EDIT
    HOLY SHIT I'm WRONG.
    its a FULL BAN on shorting financials!?!

    FUCKED UP SHIT!!!
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • YieldInHiding
    YieldInHiding Posts: 1,841
    DriftingByTheStorm wrote:
    PS. EDIT
    HOLY SHIT I'm WRONG.
    its a FULL BAN on shorting financials!?!

    FUCKED UP SHIT!!!

    LOL!!!!! BBQ!!!
    No longer overwhelmed it seems so simple now.
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    YieldInHiding wrote:
    LOL!!!!! BBQ!!!

    bbq?
    I WANT SOME BBQ.
    ???

    :(

    In all seriousness, this full ban on shorts is absolutely retarded and unhealthy.

    This will actually further DISTORT the market!
    :(
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • Sludge Factory
    Sludge Factory Posts: 976
    MrSmith wrote:
    I'm gone one week and the entire country goes to shit!

    i am sorry, America.


    Let that be a lesson to you. Never take a vacation again; America just can't handle you having luxury no matter what the personal cost to you.
  • YieldInHiding
    YieldInHiding Posts: 1,841
    DriftingByTheStorm wrote:
    bbq?
    I WANT SOME BBQ.
    ???

    :(

    In all seriousness, this full ban on shorts is absolutely retarded and unhealthy.

    This will actually further DISTORT the market!
    :(

    There is an excellent drug called Valium. I know some docs who can hook you up with a script. It could really help you out.
    No longer overwhelmed it seems so simple now.
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    YieldInHiding wrote:
    There is an excellent drug called Valium. I know some docs who can hook you up with a script. It could really help you out.

    why do i need prescription drugs simply because i can recognize a market reality?

    :rolleyes:
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • YieldInHiding
    YieldInHiding Posts: 1,841
    DriftingByTheStorm wrote:
    why do i need prescription drugs simply because i can recognize a market reality?

    :rolleyes:

    You need them because you seemingly hyperventilate in every post you make with all of your CAPS and BOLDS.

    Typically, things are never as good as they seem and things are never as bad as they seem. This is a low point for the economy, sure. Hopefully it will spur more regulation on I-bank practices and make our economy even stronger.

    I listened to Peter Day's In Business podcast last night called Casino Capitalism. You should check it out. Might give you some good insight.

    http://www.bbc.co.uk/radio/podcasts/worldbiz/
    No longer overwhelmed it seems so simple now.
  • Sludge Factory
    Sludge Factory Posts: 976
    I kind of like it when DBTS gets excited. I mean, he is non-biased with his excitement as we have just seen. When he's wrong he doesn't hold back and when he's right he doesn't hold back.

    That's what we need more of; impartial non-biased excitement and caring. I'd rather have that then the spoon-fed complacency and laziness that so many seem to be affected with.
  • YieldInHiding
    YieldInHiding Posts: 1,841
    Sludge Factory wrote:
    I kind of like it when DBTS gets excited. I mean, he is non-biased with his excitement as we have just seen. When he's wrong he doesn't hold back and when he's right he doesn't hold back.

    That's what we need more of; impartial non-biased excitement and caring. I'd rather have that then the spoon-fed complacency and laziness that so many seem to be affected with.

    It IS pretty entertaining, I'll give you that. :D
    No longer overwhelmed it seems so simple now.
  • Sludge Factory
    Sludge Factory Posts: 976
    YieldInHiding wrote:
    It IS pretty entertaining, I'll give you that. :D


    I'd have to say that he is a big part of the reason I actually pay attention to what's going on in the world these days. I used to not care at all.
  • binauralsounds
    binauralsounds Posts: 1,357
    Nevermind wrote:
    Gold, guns and survival equiment.

    Minus the gold, the latter 2 are on my list and have been for the last 4 years. All good.. I'll be prepared
  • Nevermind
    Nevermind Posts: 1,006
    binauralsounds wrote:
    Minus the gold, the latter 2 are on my list and have been for the last 4 years. All good.. I'll be prepared
    The gold is the least important. The true patriots will be well taken care of.
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    Gold and silver shot like a bullet today,
    and oil went through the roof at the speed of light.

    LARGEST ONE DAY GAIN IN HISTORY FOR OIL.
    Yikes!

    This is what inflation looks like folks.
    This is reality finally coming home to roost.

    This is the central banking supression scheme starting to unwind,
    and market forces taking back the reigns.

    $1000 an ounce gold may not be too far away anymore.
    NOT that i'm an investment advisor,
    DriftingByTheStorm last week wrote:
    a. Silver is on the firesale of a lifetime right now.
    Currently at $10.5 an ounce. Thats cheaper than it was this time last year.

    but if you bought silver last week, you would be sitting on a nearly instant 30% profit.

    ;)

    And no stupid "no shorting" rule could have stopped you.
    :D
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • josevolution
    josevolution Posts: 31,827
    Sludge Factory wrote:
    I'd have to say that he is a big part of the reason I actually pay attention to what's going on in the world these days. I used to not care at all.

    yeah me too :) ..
    jesus greets me looks just like me ....
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    Jim Cramer on CNBC RIGHT NOW:

    regarding the current bail out negotiations in congress, and regarding his current rant about needing to buy gold:

    "IF THIS THING (bail out) DOESN'T WORK OUT, WE ARE GOING TO HAVE A GREAT DEPRESSION. THATS RIGHT, ITS GREAT DEPRESSION TWO."

    "Think INFLATION, THINK WEIMAR REPUBLIC. THINK WHEELBARROWS FULL OF CASH TO BUY BREAD."

    "FINANCIAL APOCALYPSE."

    "Gold was down for a long time because CENTRAL BANKS WERE DUMPING THEIR GOLD, SUPRESSING THE PRICE"

    "I could see gold going to $1000 an ounce in this chaos."

    This is Jim Cramer,
    not DBTS The WhackJob.
    :cool:
    If I was to smile and I held out my hand
    If I opened it now would you not understand?

Categories