That money had to go somewhere... it didn’t just vanish.
Southerners I bet
The triggering of the October Surprise to beat all October Surprises?
Minor detail, Thursday was Sept. 18, not Sept. 15.
Earlier Thread? http://www.freerepublic.com/focus/f-bloggers/2183367/posts
9/11/2008 CATASTROPHIC FINANCIAL TERRORIST ATTACK CAUSED ECONOMIC MELTDOWN
See that thread for a longer discussion about: on which day what funds were affected, what the actual sequence of events was, how the weekend affected Wall Street’s reaction to news on Thursday, Friday, Monday, and Tuesday.
Freeper philman_36 has some amazing research.
This blogger seems to think the Kanjorski story is fiction. I’m not taking sides, just throwing it out.
END TIMES PING LIST PING.
Please ping whatever ping list applies:
Can anyone with the skills and experience comment on the potential meanings of all this?
I do not know what is going on here, and I don’t think I want to.
Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.
At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds “not that big” to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.
There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not “automatic selling”; this is forced liquidation.
Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart “all at once.”
The worse news is that if this happens Bernanke will have killed us (in the US) by extending those swap lines all over the planet during the last six months. These will become utterly uncollectable and they are massive, in the many hundreds of billions of dollars.
To those who are reading this, I hope if you’re in the markets you are prepared for extreme levels of violence. You must expect that the authorities will try to arrest the destruction if they are able, but you must also be prepared for the possibility that we have reached a “critical mass” point beyond which “duck and cover” is the only winning strategy.
That comes from Karl Denninger.
Will this reverse before our markets open in the morning, or are we going to see something really ugly??
I don’t know, only time will tell
EatB, Kristinn, Bob, Jim, all:
“Maggie” of Maggie’s Notebook, Jim Simpson (”...Manufactured Crisis”), and I are stirring up a bit of a campaign to call members of the Kanjorski committee (and other Congressmen/women). Can you/FReepers help?
Please see these articles:
Please FReepmail me or send to arlenwilliams”at”yahoo.com, if you would like further information about how we can try to get information from Congress. Rub Kanjorski’s face in it, if he was blowing smoke, or find out where he was telling the truth.
You may also wish to see the comments succeding these articles.
I believe Rush talked about this last week on his radio show..he was wondering who started the run on the markets back in Sept..and wondered if it could be Soros.
Same clip but different headline....