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View Full Version : Hold on!!! Russian markets CLOSED - Asia Tanking - Gold & Silver Way Up - Dow -300




RonPaulCentral
10-08-2008, 03:47 AM
Well this might be it.....

(1) Iceland is bankrupt. First "National Bankruptcy" of this "crisis"
(2) Russia suspended its stock market for 3 days NO TRADING (Until Friday)
(3) The Asian Markets have tanked losing over 10% in session
(4) Gold and Silver are taking off... Gold is $913 right now (http://24hgold.com)
(5) As of 6am (time of my post) the Dow futures already show it to open over 300 down

I can only imagine what today is going to be like on our domestic markets....

Carnage anyone?

So who thinks we might close in the 8000's on the Dow by the end of the week (perhaps today) ?

I think this is it --- I think we are about to see TSHTF with a major splatter effect.

politicsNproverbs
10-08-2008, 03:57 AM
Wow, so Russia is having the "Bank [stock market] Holiday" instead of us...


"Sorcha Faal" should report on her own screwball country, lol.

EvilEngineer
10-08-2008, 04:02 AM
Well, with 500 point losses over the past 2 days, it's very possible of the rate of sliding stays the same. Sadly I think the slide has just begun. The stock market's correct level minus the bubbles of the last decade or two is around the 4000-5000 range if not lower. Sucks to have your life savings in the market right now... but dear god how many months have we been warned this was coming? If they failed to listen to reason and choose only to listen to the silver lining slime that caused the problems... well have fun in the bread lines and working till the day they die.

pacelli
10-08-2008, 04:09 AM
I'll bet that Hartford is the next big insurance company to go down.

It seems like the rest of the world has been going through what we are about to experience.

EvilEngineer
10-08-2008, 04:12 AM
I'll bet that Hartford is the next big insurance company to go down.

It seems like the rest of the world has been going through what we are about to experience.

I think we are ahead of the curve on this one. We've been having this kind of trouble for weeks. It's taken all this time for it to finally spread to the international markets. Though now it seems to be snowballing around the globe...


Asia does bad -> Europe does bad - > US does bad -> Asia does bad the next day... etc.

nobody's_hero
10-08-2008, 04:53 AM
Russia found a way to stop their stock market from dropping!

No more trading!

It's brilliant! :D

We've already suspended short-selling, so we could follow their lead easily.

rockjoa
10-08-2008, 05:42 AM
Failsafe mechanism propping up USD is taking heavy damage...
Can't hold much longer...
Rapid Hyperinflation Warning...
PMs set to skyrocket...
Prepare for crisis...

Fate of country, Unknown. 2 possibilities merger of world governments, or return to constitutional government our founders wanted. Our leaders want world government, our people want to return to roots, who will win? We greatly out number them, but they own the talking heads on tv and lots of gov't power.

FunkBuddha
10-08-2008, 07:01 AM
Futures were up + 220 after the rate cut announcements, now they're - 190.

Arklatex
10-08-2008, 07:02 AM
Who's out running in the streets running around yelling "ANARCHY!"

wizardwatson
10-08-2008, 07:04 AM
Futures were up + 220 after the rate cut announcements, now they're - 190.

I said this yesterday after reading a few of the articles on the global problem. They said "economic slowdown" is more of a problem than the risk of inflation.

Translation: We're going to try to globally inflate our way out of this problem.

Vote Waterman 2028
10-08-2008, 07:05 AM
Isn't the short selling ban ending today as well ?!

RonPaulCentral
10-08-2008, 07:07 AM
Isn't the short selling ban ending today as well ?!

I think it is Friday that it expires. What do you want to be we see an .......

EXTENSION

wizardwatson
10-08-2008, 07:08 AM
Isn't the short selling ban ending today as well ?!

I think today is last day, short-selling may resume tomorrow.

A Debate as a Ban on Short-Selling Ends: Did It Make Any Difference? (http://www.nytimes.com/2008/10/08/business/08short.html?ref=business)

From the Article:


At the stroke of midnight on Wednesday, the short-sellers will return to Wall Street.

I had to recheck after posting this as I wasn't entirely sure either. The ban's expiration was given as x number of days after signing bailout bill, so wasn't an exact day.

RonPaulCentral
10-08-2008, 07:20 AM
I think today is last day, short-selling may resume tomorrow.

I stand corrected.