Posted on 06/07/2010 1:28:51 PM PDT by USALiberty
Why are stocks sliding? It's pretty easy to tell. More and more people are waking up to the reality that stocks are worth ZERO in this America. If the feds can seize ANYTHING at any time, then private property rights mean nothing. Now that the Kenyan Usurper and his gang of communists is talking about taking over BP's U.S. assets, the Street is reacting.
“I’m thinking it’s a good time to buy some BP.”
Depends on how much money BHO gets from BP. I can see BHO trying to break BP in order to send a chill into the energy industry and create some new dependents, (laid off BP workers), for the government.
Amen. Looks like many buying opportunities to me.
As soon as I get some things taken care of I’m paying the tax penalty and liquidating my 401K. Obama and the profit takers will not get any more of it.
Blanket statements like that aren’t accurate. It depends on which stocks you are going to buy and if you are going to be investing for the long haul.
That’s why it’s a good time to buy. Because there is a lot of risk. Wish I’d bought some banks back in the fall of ‘08.
Takeover, Baby, Takeover...
The Destroyer continues.
When will it end?
Time for the Young and Able to emigrate...
Gold was linked to the Dollar at that time! Now however, the dollar and gold are two separate entities. Neither is linked to the other. Seems there would be lots of dead govt employees if they went door to door trying to confiscate gold!
Why did the BP exec sell his shares just before the blow up?
http://www.globe-democrat.com/news/2010/jun/05/bp-chief-sold-shares-before-spill/
I understand Goldman Sachs did the same thing.
http://rawstory.com/rs/2010/0602/month-oil-spill-goldman-sachs-sold-250-million-bp-stock/
Maybe holding off on investing here is a good idea for now.
I don’t recall that. FDR did that, IIRC.
You are correct. Thanks.
Executive Order 6102
April 5th, 1933
BY VIRTUE Of the authority vested in me by Section 5 (b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled “An Act to provide relief in the existing national emergency in banking, and for other purposes,” in which amendatory Act Congress declared that a serious emergency exists, I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section do hereby prohibit the hoarding of gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of this order:
Section 1. For the purposes of this regulation, the term “hoarding” means the withdrawal and withholding of gold coin, gold bullion or gold certificates from the recognized and customary channels of trade. The term “person” means any individual, partnership, association or corporation.
Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve Bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them or coming into their ownership on or before April 28, 1933
What’s to stop ‘ZERO’ from doing that too?
Full disclosure: SAJ holds bracketed calendar spreads, long Jul/short Jun, and long Aug/short Jun. This style of trade should profit from the IV differentials in the June vs further-out options. SAJ intends to repo some short puts tomorrow on any move lower by BP.
You do have to file the appropriate Treasury Dep't form if you move more than $10,000 of gold outside the US...but it will still be effectively untouchable by the Feds; consider a Panamanian account.
“Maybe they’re diving down the market so by the time they snatch our 401ks we won’t care.”
Bing! Bing! Bing! We have a winner!
Interesting.
Nothing. What's stop him from successfully doing that? Massive noncompliance.
Actually, that is exactly what a lot of people are doing these days. And the market is falling because the prognosis for these dividends simply isn't very good. This is not the same stock market that we say back in the late 1990s -- when investors bid up the prices on stocks that paid no dividends but offered apparent potential for strong capital gains.
One big reason for this change in investor attitude is that under the changes in Federal tax law passed a few years ago during the Bush administration, qualified stock dividends are given similar preferential tax treatment as capital gains (i.e., they are taxed at a much lower rate).
One of the things to consider as 2010 marches on is that these preferential tax treatments are going to disappear in 2011 . . . and that might be a big reason why so many investors are starting to sell out of the market now.
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