Skip to comments.Markets Are Diving All Across Asia
Posted on 03/17/2013 7:03:27 PM PDT by blam
Markets Are Diving All Across Asia
March 17, 2013
The weird thing about finance: A bailout deal that will save Germany a few billion in taxpayer dollars (by shifting the burden to Cypriot depositors) is wiping exponentially more than that off the world's market indices today.
CNBC's Deirdre Wang Morris tweets a photo of the CNBC Asia market wall, which is as good a way as any other to see the carnage.
(Excerpt) Read more at businessinsider.com ...
1 percent, is that a dive?
Have a feeling Cyprius is part of the reason of this. It reflects the entire EU as well as Russia.
S&P500 futures -19.5 but, of course, PPT hasn’t even entered the picture yet.
U.S. stock-index futures, euro falling
By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) Asia stocks reacted badly on Monday to details of a bailout of Cyprus over the weekend with U.S. stock-index futures and the euro also sharply lower as investors fretted about the potential implications of a decision to levy private bank deposits.
The entire global Ponzie scheme is made up of imaginary money backed up by fiat currency backed up by IOUs that are backed up with nothing.
Copper down almost two percent as well and that metal often gives the “truest tell”.
No one will put money in a bank that steals it.
It’s just that simple.
That’s a mid-biggish move on Cu. Copper gave a head fake to the upside last week but took it right back. In all this hoopla over “the recovery” copper has been my tell that it ain’t happening quite the way the pundits seem to be pumping it.
Financial SHOCK and AWE has sent the Greek cypriot population into a panic as the Government of Cyprus upped the anti in the game of systemic theft of wealth from savers / all depositors by virtue of the Governments announcement to steal an average of 10% of ALL bank deposits in Cypriot banks as part of a Euro 10 billion bailout plan, including declaring a bank holiday to prevent bank runs whilst the fine details are worked out as to exactly who will have what percentage stolen from their bank accounts.
Euro sell off across the board.
Eur/Yen, long considered a barometer of risk assets is experiencing a huge gap down in early trading.
A break below 120.00 would signal a real trend reversal.
Ha! These articles all use the most dramatic of phrases to describe small price shifts.
Gotta keep everyone excited and on edge.
Is the news that the World Bond Bubble burst?
Will Commrade Chairman Bernanke be cursed?
Oh, what will Tyrant Hussein do then, poor thing?
He’ll hide in his White House,
To keep himself calm,
And blame it all on Bush, OF COURSE!
Kitco Spot Copper(Dr Copper)
That was the initial reaction. But right now pretty much all the markets are back up, except the Hang Seng.
Likewise, gold and silver skyrocketed at the opening in Asia, but then corrected back down again. Looks like the effects were pretty short-lived.
The reaction in the European exchanges, which will open in a few hours, will be really interesting. There is a possibility that the US markets will be last shore hit by a financial tsunami.
Welcome to the Global Marketplace. Might be time to get out of the markets and tell 'em "And thanks for all the fish".
Not necessarily “wiping out value” if it’s an adjustment due to the exchange rate spike as the euro gets dumped.
Intervention by governments?
Meh. It’s like a 150 dump in the Dow. Not considered a great day. Not a terrible one either.
Yeah, I see runs on banks in our near future. Cyprus has no idea what they’ve done.
It’s just the Germans demanding their share up front. They are tired of supporting the southern European deadbeats. This will shatter the Euro and the political structure over there. Germans are ready to go back to the Deutschmark and dump this Euro bullsh!t.
The mystery is why people believe the dollar has value.
The sh!t will hit the fan when all those dumBO phones are cut off.
So do you think the German elite secretly want out of the EU or else want it to fail?
So sick of the fake hyped articles. These r not dives, major drops, or skids...05 to 1.5% is nothing. Stop wasting time and trying to freak old people out ny posting this garbage.
They want Cyprus and Greece out.
Well, OK, but Italy is probably the biggest threat. And, there appear to be some heavy hitters in the EU who want NO cracks to appear, for fear of unraveling. Are the German elites at odds with them?
Gold is moving back up. $1597.80 at 00:11 EST.
You sound like a bit of a ding-a-ling and probably ought to cease posting anyway.
Just stay off these type threads...no-one will miss you anyway.
It’s no secret. Angela Merkel has faced recent resistance from a new political party that calls for return to the Deutschmark. 60% of Germans want their Deutschmark back.
Gold is now at $1598.60 at 00:40 EDT. We do indeed live in interesting times.
Nope. Right and left both equally susceptible to sensationalism sorry to say.
Bingo!!!...as I stated elsewhere....they may let the market take a small hit, but will concoct some “good for the market” story and it will miraculously come roaring back
The EU core is North Europe. A two speed EU is acceptable to the North.
Yup. Gold is up over 1600 again after being knocked back down last night. Some people think that 1620 is an important level, if it can get over that.
Someone in a gold forum said that Da Boyz in NYC knocked it back down last night in Asia, after that initial pop. And that the hourly volume during the knockdown was one of the three largest hours since the beginning of the year.
But evidently it still hasn’t succeeded in doing the job, so they are laying back for the moment and letting it rise.
Maybe so. But I can’t wait to see the Eurocrats tell Italy, when it’s time for their bailout, “Oh, by the way, taking this money condems your country to economic stagnation and austerity in perpetuity.” Prescription for disaster.