John Ward August 16, 2013 Uncategorized

Global sell-off: you read it here first…

Global sell-off triggered by fears of end of US stimulus stalls in London

Daily Telegraph this morning.

less than a quarter of the way through the Wall Street day, the DJIA has fallen more than it did in the three preceding days. Uncle Ben is in a corner, and the markets know it.

Yesterday at The Slog

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1

andrew mackenzie on August 18, 2013 at 4:00 am

Sorry you or any other of you BUMB fokes can answer what about ( 12-23-2013 ) you are all scared to mention it. Do we as a nation get ride of these crooks and put them in jail or do the people listen to the panic they will start and renew the stealing of all their money to the Rothschild’s and their friends. In The past some times the people were right. Date: Fri, 16 Aug 2013 08:54:22 +0000 To: chinandu@hotmail.com

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2

Chris Loughrey Esq on August 16, 2013 at 9:04 pm

Bill: the trouble with the “forever” part is that their strategy has a fail safe, which is a big fat shooting war.

I’d prefer a crash over that outcome. And you’re right, there is probably an equal chance of the elites plan continuing as there is of it falling on its face due to the unforeseen. I hope for the latter.

And chin up, being aware of what those f**kers are up to is half the battle. It gives you a chance to protect yourself, in whatever way you see fit. Which is more than will be given to 99% of the rest.

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3

bill40 on August 16, 2013 at 8:16 pm

Chris,

It will last forever and gold will not help, or any amount of farmland. I am having one of my bad days when I realise we lost. I’ll perk up soon enough.

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4

Robin Banks on August 16, 2013 at 7:28 pm

US 10 years hitting 2.83%. I love the smell of napalm in the morning.

I totally agree with your comments Chris.

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5

Chris Loughrey Esq on August 16, 2013 at 7:20 pm

@bill. Would you prefer the delay and pray strategy to continue forever? It’s devastating consequences (bail-ins, ZIRP, inflation) on regular folks growing in magnitude every day?

The reset is necessary to provide some form of financially healthy starting point. Healthy economies allow for capital destruction to clear away dead wood and allow younger, stronger replacements to flourish. This is something that has been delayed at all costs since 2008, to the detriment of everyone who isn’t a chum of the Fed. It’s also a path fraught with obvious consequences up to and including, full blown continental war.

As hard as any collapse will be, it’s better than the current plan of death by a thousand cuts (and kicks, and punches etc). Only a sharp shock can wake up enough people to reality, this may force a change for the better in our politics, our economics and our culture.

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6

bill40 on August 16, 2013 at 6:28 pm

Bill,

You’d know what to do with fertile farmland? I hope you have a gun and ammo to persude said owner, who does, to part with his land. You guys never did make any sense to me.

I’d find your gold with a metal detector after I’d burned down your house, well I wouldn’t but someone would.

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7

Bill Casso on August 16, 2013 at 6:14 pm

bill40 I can think of lots of things gold could buy in a crash. My top purchase would be some fertile farm lands and some horses. In a crash having gold also requires the ability desire to protect it. At my age I have to be delusional to think I have the ability to protect it. That’s my problem with gold.

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8

Cornelius Townedge on August 16, 2013 at 5:49 pm

The Balcombe sell-off/snatch & grab. You heard it here second!
Ian Austin on ‘mob rule’ at Balcombe… http://corneliustownedge.wordpress.com/2013/08/16/ian-austin-mp-member-of-the-mob-decries-mob-rule/

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9

steviefinn on August 16, 2013 at 5:42 pm

If we do get Armageddon ( which I certainly don’t wish for ) gold might buy sleepless nights guarding a misers hoard. ” Game of thrones ” mass escapism as in the 30’s, is my only hope :)

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10

steviefinn on August 16, 2013 at 5:24 pm

Another rhyme ?

http://www.testosteronepit.com/home/2013/8/15/cisco-ceo-reports-record-sales-and-lumpy-demand-just-like-in.html

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11

bill40 on August 16, 2013 at 4:38 pm

I have never understood gold bugs aside from a small amount. If we are ever reduced to barter from a crash what will it buy? Some actually sound like they wish for Armageddon.

Odd.

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12

Robin Banks on August 16, 2013 at 4:32 pm

Remember Bear Stearns when they got caught with a load of short contracts on silver and physical supply dried up after the paper markets had been driven down to $9 an ounce and sharply rebounded because no one could get any significant physical for 3 months. Looks like JPM have gone WTF and tried to crawl their way out before the Chinese wipe the floor with them.

They say history rhymes.

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13

Chris Loughrey Esq on August 16, 2013 at 3:44 pm

In case you missed it yesterday:

http://www.zerohedge.com/node/477636

Yep, nothing to see there!

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14

Chris Loughrey on August 16, 2013 at 3:41 pm

Well that’s odd. They said they had loads of the stuff to honour the contracts on it. but now they’re in the open market buying as much as they can. How very odd indeed.

(Message boards need some sort of sarcasm button)

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15

Chris Loughrey on August 16, 2013 at 3:38 pm

I’ll call it a “sell off” when the Fed toys formerly known as the Dow/S&P is down at least 20%.

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16

Green Queen on August 16, 2013 at 3:37 pm

Don’t like to eat gold….just invested in freezer no. 4. As long as power is there..

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17

John Ward – Global Sell-Off : Your Read It Here First… – 16 August 2013 | Lucas 2012 Infos on August 16, 2013 at 3:26 pm

[…] http://www.hat4uk.wordpress.com / link to original article […]

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18

garrythesnorkelparka on August 16, 2013 at 3:24 pm

Yep, and they’re at least 85,000 net contracts LONG! At 100 Troy ounces a contract…well….

I wonder which direction JPM are expecting the price of Gold to flow..?

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19

bill40 on August 16, 2013 at 2:55 pm

Slogging a dead horse on this one I suspect. Governments hold the whip hand in the markets as the banking crisis and QE have proved.

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20

steviefinn on August 16, 2013 at 12:48 pm

Hmmm :

http://www.businessinsider.com/jpmorgan-buy-gold-2013-8

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21

Robin Banks on August 16, 2013 at 9:48 am

less than a quarter of the way through the Wall Street day, the DJIA has fallen more than it did in the three preceding days. Uncle Ben is in a corner, and the markets know it

I think there was a typo in the Telegraph headline. Uncle Ben is in a corner. and China knows it (hence the dumping of US treasuries and the Fed will need to buy more bonds and eat its own vomit). They also know that the bullion banks are in a corner.

Just reading Sun Tzu’s “Art of War”, Never pick fights you cannot win seems to be the salient message.

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