Posted on 12/20/2012 7:12:40 PM PST by Hojczyk
U.S. stock-index futures dropped sharply late Thursday on news that a Republicans had cancelled a vote on their back-up measure to prevent the end of the Bush tax breaks for those earning $1 million or less. A little more than half an hour after House Speaker John Boehner said he was killing the vote due to lack of support, the Dow Jones Industrial Average futures were down 1.5%, the S&P 500 futures were 1.4% lower, and Nasdaq futures were off 1.3%. The cancelation appeared to signal dissent in the Republican ranks, reducing the odds on a timely deal to avert the fiscal cliff of austerity measures due to take place at the start of the new year. The news also hit Asian markets trading at the time, with Hong Kong stocks falling and Japanese shares coming off their earlier highs.
(Excerpt) Read more at marketwatch.com ...
Why are precious metals plummeting?
Why are precious metals plummeting?
Because the US dollar is going up.
Very timely thread. Thanks.
So the Mayans predicted the stock market plunge.
Could be a reaction to a perception that the economy might tank, reducing the need for precious metals.
I have come to the place where I wonder if civilization tanked, if ‘precious metals’ might become something more close to a rock, than a life-buoy.
This reaction in the market (and metals prices) is as emotional as these posts. The dollar’s strength is based PURELY on confidence in America and its capitalist system.
Absolutely NOTHING good has happened to the American system for over four years that would provide a solid reason for confidence in the dollar to increase. Our economy (and its data) is a total disaster and getting worse, not better. And the world knows it.
The dollar is NOT getting stronger. It will require a good reason for that to happen and while we have a government that is hellbent on destroying our economy, with the world watching and warning, that will not happen.
Guess who gets the blame for the upcoming recession?
The GOP (and Bush).
The GOP deserves every bit of the electoral disaster heading its way. It will be a Tsunami.
Buying opportunity tomorrow.
I agree completely.
Maybe I should have said the US dollar is going up “for now”.
We will pay the piper, however it may be that the US economy is the best of the bad around the world.
You might like this:
Europe is toast, Japan is toast, etc..
https://www.youtube.com/watch?v=JUc8-GUC1hY
It’s all a bunch of lies. The U.S. markets will finish up tomorrow.
I’m beginning to believe it’s extremely manipulated. Otherwise, we go over the cliff and metals go down. They reach an agreement and they go down. They raise taxes or lower taxes and metals go down. Then for the same reasons metals go up.
Since CNN has seen the light and is showing her the door, she wants to either leave a mark or a greasy smear.
Wrong thread. Doh!
Guess who gets the blame for the upcoming recession?
The GOP (and Bush).
Oh, Obama and his socialist accomplices will try this tired mantra, but Obama OWNS the economy now. They will have to blame the Repubs, in general, which they will try to do — but it is Obama that sits in the Oval Office. Does not matter what happens or what the House Repubs do, they will still get blamed for Obama’s insanity, destructive socialism , incompetence and the list goes on and on. We are too painfully aware of the damage and destruction yet to come via Obamacare, the Marxist timebomb, and all the secret plans to undermine the American capitalist system and our Constitution.
So the Repubs should man-up because they will be blamed for everything that Obama does, just as over the past four years. Save America should be thier battle cry.
Bulls, Moo Cows, Roosters, Chickens, Piggies, that is where the money is at.
Unfortunately those aren’t the easiest things to own and keep safe/maintain.
LOL.
Absolutely NOTHING good has happened to the American system for over four years that would provide a solid reason for confidence in the dollar to increase. Our economy (and its data) is a total disaster and getting worse, not better. And the world knows it.
Amen! Thanks for this post!
//////Why are precious metals plummeting?/////
Because the smart money knows that next year taxes are going up. Thus they are selling precious metals before the end of the year to pay their long term capital gains at this years lower tax rates.
PM’s should resume their rise after the end of the year.
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