Oct6th - Dow jones -500 / -4.60% level 9865.00

[Steve_A]

Hi End_Times012,

It all depends on your needs. If you have a lot of money in US$ and you can't get hold of 'spot' gold or silver (check out your bank), you could change for more secure currencies, or alternatively buy 'naked' land (farm land to you and me) as that should hold its' value. You could even check out emerging markets for land, but be careful not to get ripped off by unscrupulous dealers.

I would at this time steer clear of the Canadian dollar, as it comes under the Amero umbrella and that geographical area is still unclear as to which direction it will go.

Another scenario, depending on the amount, is that you look for Amero currency (not the comemorative coins) if it officially exists and invest a portion in that - a higher risk but possible higher gains (or loss) and a more secure low risk investment. if you have enough and are wanting to invest, spread it around to secure yourself and possible make a buck or two on the way.

Best regards,

Steve

Originally Posted by End_Times012

Probably a stupid question, but would it make sense for me to exchange the money I have for other currencies, such as the Euro or possibly the Canadian dollar?

I have no idea how I'm going to get ahold of silver or even gold, should the dollar become absolutely useless.

[ATYT]

another day .. another tripple digit drop ... -733.08 (-7.87%) DOW

[Myra]

Originally Posted by Steve_A

Hi ctophil,

This rise in the DOW and other main bourses is because the goerments hae just injected trillions of dollars to prop up failing banks and banking system, so for the short term there will naturally be a short term rise in the markets, as, in the short term, the banks situation is 'solved'. Everything that was lost over the last couple of weeks could make someone an awful lot of money, over the short period.

I posted in another thread what I thought about the possible repercussions of nationalizing banks: http://www.projectavalon.net/forum/s...ead.php?t=5195

Sorry to hear about your company.

Best regards,

Steve

Hi Steve, just wondering, do you think the rise in the Stock Market will only be temporary because of this? I'm asking because I don't know a lot about how the Stock Market works, I'm sure you know much more than me.

[Steve_A]

Hi Myra,

I believe it will be temporary as the current situation is still not all that healthy. Once the euphoria is over and everybody can see the woods for the champagne glasses, they will realize that the bailout is only as good as the money that was used. The money is being pumped into the system and the banks will go back to lending, which will take the money back out of the system and we're back to squara one, unless the bank makes credit more difficult (or more expensive) to get. This being the case we would be in a similar situation where we are now where few can get, or afford credit, and the credit market will be much smaller, thus reducing profits etc. etc.

When I was a kid my mother said to me that the lending companies only lend to rich people, those people who don't really need it. It has always been that way in a healthy market. You lend and are guaranteed of your return. If we are to believe what the banks say, the banks lent to all the poor people and got screwed.

I posted : http://www.projectavalon.net/forum/s...ead.php?t=5195

It's my reasoning about nationalizing banks, which basically has just come to pass in Europe. Today George Bush will inform the public what he will do with the first $250 billion of the $700 b. Will it be for his friends' banks? Will it go to AIG who as already received over $1 trillion? Let's wait and see.

Best regards,

Steve

Originally Posted by Myra

Hi Steve, just wondering, do you think the rise in the Stock Market will only be temporary because of this? I'm asking because I don't know a lot about how the Stock Market works, I'm sure you know much more than me.

[Steve_A]

Hi Everybody,

This just in. With first installment of the $700b in hand, President George Bush should announce today that the treasury will buy stakes in Bank of America Corp, Wells Fargo, Citigroup, JPMorgan Chase & Co, Goldman Sachs, Morgan Stanley, Bank of New York Mellon Corp, State Street Corp and Merrill Lynch.

Best regards,

Steve

[Steve_A]

The Icelandic Stock Exchange fell by 76% in early trading as it re-opened after closing for two days last week.

The country's economy has almost collapsed, after lending on the money markets dried up.

Iceland has become one of the highest-profile victims of the credit crunch.

Last week, authorities took control of the operations of three major banks, Kaupthing, Landsbanki and Glitnir, in which hundreds of thousands of Britons have savings.

Trading in six financial stocks - Kaupthing, Landsbanki, Glitnir, Straumur-Burdaras, Reykjavik Savings Bank (SPRON) and Exista - remains suspended.

Officials from Iceland are in Moscow for talks on an emergency loan that could be worth billions of euros.

Meanwhile, the UK Government has announced extra help for around 300,000 British firms and individuals with deposits in collapsed internet bank Icesave.

It is to lend the parent company Landsbanki £100m to help depositors get their money back.

Originally Posted by Steve_A

Hi Everybody,

This just in. With first installment of the $700b in hand, President George Bush should announce today that the treasury will buy stakes in Bank of America Corp, Wells Fargo, Citigroup, JPMorgan Chase & Co, Goldman Sachs, Morgan Stanley, Bank of New York Mellon Corp, State Street Corp and Merrill Lynch.

Best regards,

Steve

[Peer]

As money is reduced to 0's and 1's and represents no real value for decades already I don't see the problem.
Maybe because you had some of those 0's and 1's and thought you were a rich man.
Well, wake up: That money didn't exist, not even on paper.

Actually you didn't own anything real (on another thread I already made clear that owning anything at all is impossible) but were you unhappy?
No. You just worried about losing something you didn't really own, something that didn't even exist.

All you have to do now is stop worrying and get a good night sleep.
You had a bad dream, that's all.

When you see mushroomlike clouds on the horizon it is time to get worried.
Anything else is there for you to enjoy for instance:
You could get into a real conversation with your neighbour.
A conversation about things that really matter.
Can't think of anything but money?

Then you are close to ZEN because ZEN is all about nothing.

[Soulmate7]

Originally Posted by Orion Morris

I do not think that martial law is possible because of the sheer numbers of people in America. If a total collapse happens then we would still have to employ cops, national guard, army and others to enforce the martial law. These people would be our friends and family, I know alot of friends in the army and I know for a fact that they would not hold their country at gunpoint under any circumstance. The only real possiblity for martial law would be if we were invaded by a country with the man power to do such a thing. Possibly China, but I serously doubt that it could happen in a matter of days. It is going to take longer than that to end the world, or save it, which ever way you prefer to look at it.

I'd like to react by quoting Henry Kissinger. Keep in mind the Oct7 (or thereabout) prediction:

Today, America would be outraged if UN troops entered Los Angeles to restore order. Tomorrow they will be grateful! This is especially true if they were told that there was an outside threat from beyond, whether real or promulgated, that threatened our very existence. It is then that all people of the world will plead to deliver them from this evil. The one thing every man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well-being granted to them by the world government.

[ctophil]

Ladies and gentlemen, the markets are now down at -777 as we speak, just like last Monday! I believe it will get much lower. Stay tuned...

[RubyTuesday]

It just broke 800...

[LOCOAZ2008]

It is time for buying gold and silver, and to take out your cash from banks, we dont know what is going to happend tomorow

dow jones -788 and going down.....

[Steve_A]

Hi ctophil,

The real test will be the Asian markets overnight! They are going to plummet like a shot partridge. Then when Europe wakes up to see what's left of the wreckage, then we may, just may see a 'Bill Deagle'.

Best regards,

Steve

Originally Posted by ctophil

Ladies and gentlemen, the markets are now down at -777 as we speak, just like last Monday! I believe it will get much lower. Stay tuned...

[lucrum]

Originally Posted by Steve_A

Hi ctophil,

The real test will be the Asian markets overnight! They are going to plummet like a shot partridge. Then when Europe wakes up to see what's left of the wreckage, then we may, just may see a 'Bill Deagle'.

Best regards,

Steve

If such a thing were to go down, what would be the motive for an event like that? Smokescreen to cover up the financial leaders packing their backpacks and fleeing with everything? I would guess some sort of gain from it would have to be in place for it to go down like that...

[THE PEACEFUL WARRIOR]

Originally Posted by Steve_A

Hi ctophil,

The real test will be the Asian markets overnight! They are going to plummet like a shot partridge. Then when Europe wakes up to see what's left of the wreckage, then we may, just may see a 'Bill Deagle'.

Best regards,

Steve

Hey Steve,
Loved that 'may see a Deagle' lol that's too funny buddy.

Dunno about Japan and Singapore but the Hong Kong markets have a bank holiday tommorow, how convenient for the PTB's looks like Europe and US will have the reigns on the 7th.

UK media already reporting this as 'MELTDOWN MONDAY' as we speak.

When they write the history books maybe they will refer to this period when the markets crashed as...'THE DEAGLE DROP' haha lol.

Woooohoooo guys and gals here we jolly well go, "better buckle your seatbelts Dorothy. coz Kansas is going bye bye's"!

Best to all - Stay safe people - Gotta get wise and stay alive.

Word Up - PEACE OUT

[LiquidSwordz]

Originally Posted by THE PEACEFUL WARRIOR

Hey Steve,
Loved that 'may see a Deagle' lol that's too funny buddy.

Dunno about Japan and Singapore but the Hong Kong markets have a bank holiday tommorow, how convenient for the PTB's looks like Europe and US will have the reigns on the 7th.

UK media already reporting this as 'MELTDOWN MONDAY' as we speak.

When they write the history books maybe they will refer to this period when the markets crashed as...'THE DEAGLE DROP' haha lol.

Woooohoooo guys and gals here we jolly well go, "better buckle your seatbelts Dorothy. coz Kansas is going bye bye's"!

Best to all - Stay safe people - Gotta get wise and stay alive.

Word Up - PEACE OUT

Hey warrior, where are you getting this info that Hong Kong will be in bank holiday tommorrow? and the link to where UK says this is Meltdown monday. Send us the links ASAP!

[Rocky_Shorz]

You're right, three markets are closed including Hong Kong...

the markets aren't sinking that bad that are open, Japan is down over 3%...

Let's see what happens when Europe opens...

If the stream was changed enough, by a select few buying up dollars to strengthen the whole market, maybe this isn't going to be black Tuesday after all...

[LOCOAZ2008]

HERE WE GO AGAIN!!!!

DOW JONES -224.53 / -2.26 LEVEL 9730.97

http://money.cnn.com/data/markets/

AND GOING DOWN!!!!

[Orion Morris]

quit freakin out everybody... its only a four year low... things were way worse inthe eighties... way...way worse!!!

its at about -200 right now.. even if it does crash to 7000 it is still not as bad as we have seen in the past and humanity is still alive..

[LOCOAZ2008]

Fed Enters Off Balance Sheet Credit Default Market

Today the Fed entered the off balance sheet credit default market and plans to buy unsecured debt instruments in order to cure the problems caused by off balance sheet credit default derivative buying in the form of non-performing failed counterparty credit default derivatives. This appropriately named toxic paper will be purchased to an infinite degree.

The Fed does the same to cure the same.

The Fed actions today declare the bailout bill a non-functioning pile of pork. This infinite production of paper dollars will kill the dollar

Gold will trade at or above $1650.

The Dow is thumbing its nose at the infinite amount of money being dropped by rising 150 points and coming back to even.

Modern day Weimar here we come!

http://jsmineset.com/

[LOCOAZ2008]

We recommend the Blocked Pipes article as it clearly explains the concerns that we have had for years about the banking system of the world. After reading the Blocked Pipes article, you can see why we remain pessimistic about a rapid recovery of the world banking system.

http://www.economist.com/displaystor...ry_id=12342237

[SkyWatcher]

Yes, what good does it do to get all uptight. The market went down yesterday, and rebounded up. The market climbs up and down on the best of days. During this time of market instability it may make steeper climbs and dips, but the roller coaster ride is still running. When it stops, then it's time to get off. At the end of the day, when the markets close, then look back and see if the ups and downs were as bad as you thought they were. Maybe, maybe not.

Hang in there.
Nancy

[Big A]

the dow doesnt have any support till 7000, so we are going to see a free fall to 7k and prob blast right threw that

[ATYT]

Dow Down. - 500 points . ..

from Oct 3 to Oct 07 the Dow has lost -1035 points. (-9.88%)
http://finance.google.com/finance?cid=983582

[Mori]

Big announcement? Look to a city (spelling) citi?

Patiently twiddles thumbs waiting on the MSM to catch up

[ctophil]

Originally Posted by Mori

Big announcement? Look to a city (spelling) citi?

Patiently twiddles thumbs waiting on the MSM to catch up

Are you talking about Citigroup? All they doing recently is trying to play tug-of-war with Wells Fargo and snatch Wachovia. What else is new?

-Phillip