Archive for the 'Economy' Category
Three Large Investment Banks Tap New Fed Loans
March 20th, 2008Via: Baltimore Sun: Three of the nation’s largest investment banks said they have borrowed from a program created this week by the Federal Reserve to stimulate lending amid concern that Wall Street faced a cash shortage. “We have tested the window because we want to remove the stigma from the window,” said Morgan Stanley Chief […]
Malicious Traders in the City Try to Topple the Halifax Bank
March 20th, 2008Via: Times Online: Stock market manipulators yesterday tried to bring down one of Britain’s biggest banks by spreading false rumours through the City. The Bank of England was forced to issue an unprecedented denial that HBOS was in trouble. The Financial Services Authority (FSA) said that it would pursue traders guilty of “market abuse” by […]
Gold Correction
March 20th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I drew a Fibonacci fan on the weekly gold chart. The fan is defined from the low on 16 August 2007 to the high on 8 November 2007. Gold has now broken down to the 50 Fibonacci fan line, exactly. Spot […]
GOLD SHARPLY LOWER
March 19th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Sharpest selloff in recent weeks… Monitoring closely. Could be sovereign sales re: IMF. Just a guess. BIG red candles, intraday. Catching bounce $955. Lock and load. [CLARIFICATION: Please understand that I acquire tiny amounts during these big dips. If you are […]
Dollars Tough to Sell on Streets of Amsterdam
March 18th, 2008“…when your cash is not convertible into foreign currencies or maybe even worthless…” —Waiting for Clarity on the Brink of Oblivion It’s important to keep an eye on the little things that start to actually affect Joe and Jane Six Pack. When the herd finally understands what’s happening, you will want to be long gone. […]
Bush: We’ll “Bring Order to Financial Markets”
March 17th, 2008That’s what I like to see! No more bullshit about a, “free market.” We’re all on the same page now: The financial system is being run like a Soviet ministry. For once, Dubya got it right! Via: CNN: President Bush, trying to calm turmoil in financial markets, said Monday that his administration is “on top […]
IMF Chief: Global Crisis Deepening
March 17th, 2008Don’t we at least get a New World Order reference? Hmm. Kinda. Via: AP: The collapse of a Wall Street institution over the weekend shows the global financial crisis is broader than policy makers realized and it is growing worse, the head of the International Monetary Fund said Monday. “The financial crisis which started in […]
Financial Firms Face a “New World Order”
March 17th, 2008HAHA. No, really. Accuse Reuters for being a tinfoil rag. I just work here. Via: Reuters: Financial firms face a “new world order” after a weekend fire sale of Bear Stearns and the Federal Reserve’s first emergency weekend meeting since 1979, research firm CreditSights said in a report on Monday. More industry consolidation and acquisitions […]
EMERGENCY: FEDERAL RESERVE WEEKEND RATE CUT; JPMORGAN BUYS BEAR STEARNS FOR $2 PER SHARE
March 17th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I’m Through Calling it for Now Well, guys, it looks like the Plunge Protection Team is out in force this morning, as we knew they would be. As I sign off, the Dow isn’t even down 1%. HAHA. The Dollar is […]
Bush to Meet with Plunge Protection Team on Monday
March 16th, 2008This is a crisis management situation, no doubt about it. Via: Reuters: President George W. Bush plans to meet on Monday with top U.S. financial policymakers, the White House said, at a time of increased strains in credit markets and fears of a recession. The White House said on Saturday Bush will meet members of […]
