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Markets Are Diving All Across Asia
TBI ^ | 3-17-2013 | Joe Weisenthal

Posted on 03/17/2013 7:03:27 PM PDT by blam

Markets Are Diving All Across Asia

Joe Weisenthal
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 ...


TOPICS: Germany; Israel; Japan; News/Current Events; Russia; United Kingdom
KEYWORDS: crash; cyprus; eu; europeanunion; germany; greece; israel; japan; markets; russia; turkey; unitedkingdom

1 posted on 03/17/2013 7:03:27 PM PDT by blam
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To: blam

1 percent, is that a dive?


2 posted on 03/17/2013 7:05:03 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: blam

Have a feeling Cyprius is part of the reason of this. It reflects the entire EU as well as Russia.


3 posted on 03/17/2013 7:05:13 PM PDT by autumnraine (America how long will you be so deaf and dumb to thoe tumbril wheels carrying you to the guillotine?)
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To: blam

S&P500 futures -19.5 but, of course, PPT hasn’t even entered the picture yet.


4 posted on 03/17/2013 7:05:53 PM PDT by steve86 (Acerbic by Nature, not NurtureĀ™)
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To: blam

Bump


5 posted on 03/17/2013 7:07:29 PM PDT by Jet Jaguar
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To: blam
Asia Stocks Dive On Cyprus Deposit Levy

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.

(snip)

6 posted on 03/17/2013 7:07:42 PM PDT by blam
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To: blam

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.


7 posted on 03/17/2013 7:07:43 PM PDT by SkyPilot
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To: steve86

Copper down almost two percent as well and that metal often gives the “truest tell”.


8 posted on 03/17/2013 7:08:05 PM PDT by steve86 (Acerbic by Nature, not NurtureĀ™)
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To: autumnraine
ZERVOS: 'This Is A Nuclear War On Savings And Wealth'
9 posted on 03/17/2013 7:10:22 PM PDT by blam
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To: steve86

10 posted on 03/17/2013 7:11:33 PM PDT by blam
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To: blam

No one will put money in a bank that steals it.

It’s just that simple.


11 posted on 03/17/2013 7:12:00 PM PDT by Venturer
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To: steve86

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.


12 posted on 03/17/2013 7:12:55 PM PDT by Attention Surplus Disorder (This stuff we're going through now, this is nothing compared to the middle ages.)
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To: blam
Cyprus Deposits Theft Bank Run Trigger for Stock Market Drop?

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.

13 posted on 03/17/2013 7:16:04 PM PDT by blam
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To: steve86

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.


14 posted on 03/17/2013 7:20:02 PM PDT by Zeneta (No eternal reward will forgive us now for wasting the dawn.)
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To: central_va
1 percent, is that a dive?

Ha! These articles all use the most dramatic of phrases to describe small price shifts.

Gotta keep everyone excited and on edge.

15 posted on 03/17/2013 7:21:02 PM PDT by Leaning Right
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To: blam

16 posted on 03/17/2013 7:27:33 PM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: blam
You can be sure that the Cypress bank thief is King Obama’s exact way he will finish America. Our entire Country will crash. It will start with the confiscation of IRA and 401k. He will probably wait until his illegal third term.
17 posted on 03/17/2013 7:29:29 PM PDT by Logical me
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To: blam

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!


18 posted on 03/17/2013 7:33:53 PM PDT by Graewoulf (Traitor John Roberts' Commune-Style Obama'care' violates U.S. Constitution AND Anti-Trust Law.)
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To: Attention Surplus Disorder

Kitco Spot Copper(Dr Copper)


19 posted on 03/17/2013 7:34:07 PM PDT by blam
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To: blam

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.


20 posted on 03/17/2013 7:50:44 PM PDT by Cicero (Marcus Tullius)
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To: blam
Yeah. Maybe copper heads a little lower, to levels it established when "there was no recovery". Could be a decent reflexive buy maybe a dime lower..if it gets there....non-futes folks can track it using JJC. One has to step back and evaluate whether tomorrow will be just a one-day blunder or if the market in general is ready to take back some serious cheese. Best, IMO, not to make up one's mind so quickly.

 photo copper_zps4700ad3d.png

21 posted on 03/17/2013 8:03:23 PM PDT by Attention Surplus Disorder (This stuff we're going through now, this is nothing compared to the middle ages.)
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To: central_va
It's still morning or just noontime Monday in Asia. If the trend continues into the afternoon it will be a "dive". Asia depends on Europe as an important market and so they will be concerned about ripple effects from Cyprus, a small spark that may ignite what's been a ticking time bomb.

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".

22 posted on 03/17/2013 8:11:43 PM PDT by katana (Just my opinions)
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To: blam

Not necessarily “wiping out value” if it’s an adjustment due to the exchange rate spike as the euro gets dumped.


23 posted on 03/17/2013 8:19:12 PM PDT by Nomedeplume
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To: SkyPilot
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.

That's right.

So why in the world would the Eurocrats destroy the one thing holding the whole deception together: trust?

It seems like deliberate sabotage.
24 posted on 03/17/2013 8:23:15 PM PDT by 867V309
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To: Cicero

Intervention by governments?


25 posted on 03/17/2013 8:25:02 PM PDT by 867V309
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To: central_va

Meh. It’s like a 150 dump in the Dow. Not considered a great day. Not a terrible one either.


26 posted on 03/17/2013 8:32:36 PM PDT by Cyber Liberty (I am a dissident. Will you join me? My name is John....)
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To: Venturer

Yeah, I see runs on banks in our near future. Cyprus has no idea what they’ve done.


27 posted on 03/17/2013 8:34:15 PM PDT by Cyber Liberty (I am a dissident. Will you join me? My name is John....)
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To: 867V309

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.


28 posted on 03/17/2013 8:38:51 PM PDT by batterycommander (a little more rubble, a lot less trouble)
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To: SkyPilot
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.

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.

29 posted on 03/17/2013 8:45:21 PM PDT by depressed in 06 (America conceived in liberty, dies in slavery.)
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To: batterycommander

So do you think the German elite secretly want out of the EU or else want it to fail?


30 posted on 03/17/2013 8:47:40 PM PDT by 867V309
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To: blam

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.


31 posted on 03/17/2013 8:53:04 PM PDT by Deathtomarxists (collapse death heartburn heartache dingdongs diaherea)
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To: 867V309

They want Cyprus and Greece out.


32 posted on 03/17/2013 8:54:06 PM PDT by WriteOn (Truth)
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To: blam

BTFD


33 posted on 03/17/2013 8:54:36 PM PDT by WriteOn (Truth)
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To: WriteOn

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?


34 posted on 03/17/2013 9:02:45 PM PDT by 867V309
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To: Cicero

Gold is moving back up. $1597.80 at 00:11 EST.


35 posted on 03/17/2013 9:13:22 PM PDT by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
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To: Deathtomarxists
"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."

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.

36 posted on 03/17/2013 9:19:53 PM PDT by blam
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To: 867V309

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.
http://www.dailymail.co.uk/news/article-1335447/Nearly-60-Germans-want-Deutschmark-instead-ailing-euro.html


37 posted on 03/17/2013 9:25:13 PM PDT by batterycommander (a little more rubble, a lot less trouble)
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To: SVTCobra03

Gold is now at $1598.60 at 00:40 EDT. We do indeed live in interesting times.


38 posted on 03/17/2013 9:41:41 PM PDT by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
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To: batterycommander
Thanks for the link, but "UPDATED: 06:36 EST, 4 December 2010" ?

I find it hard to believe the EU elites are willing to give up, but the Cyprus confiscation is bound to panic enough depositors to cause banks serious trouble, the last thing the Eurocrats need.

Doesn't make sense.
39 posted on 03/17/2013 10:01:18 PM PDT by 867V309
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To: central_va

It’s early...


40 posted on 03/17/2013 10:03:40 PM PDT by GOPJ (DHS HAS secured: 1.6 BILLION bullets - 2.700 tanks and 35,000 drones ...to use on American soil...)
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To: central_va

Nope. Right and left both equally susceptible to sensationalism sorry to say.


41 posted on 03/17/2013 10:26:28 PM PDT by wiggen (The teacher card. When the racism card just won't work.)
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To: steve86
but, of course, PPT hasn't’t even entered the picture yet.<<

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

42 posted on 03/17/2013 11:17:45 PM PDT by M-cubed
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To: 867V309

The EU core is North Europe. A two speed EU is acceptable to the North.


43 posted on 03/18/2013 7:41:29 AM PDT by WriteOn (Truth)
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To: SVTCobra03

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.


44 posted on 03/18/2013 9:24:49 AM PDT by Cicero (Marcus Tullius)
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To: WriteOn

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.


45 posted on 03/18/2013 12:09:22 PM PDT by 867V309
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