Massive stock market crash, NASDAQ down 5% in one day

redrumloa

redrumloa

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Dow down 512.

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Don't worry, you will see worse in the months to come.
 
redrumloa said:
Preaching to the choir.
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Yup, sat down with one of my elderly aunts this afternoon. I told her to buy commodities (silver and gold) plus Swiss Francs because the dollar is about to go through a hellish inflationary period that will leave it worthless.

Today, I was amazed to read that Europeans are taking capital out of Europe and putting it into US T-Bills, I thought the Europeans where smarter then that.
 
Dammy said:
Today, I was amazed to read that Europeans are taking capital out of Europe and putting it into US T-Bills, I thought the Europeans where smarter then that.
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It's a game. You just keep moving the "money" around to lose less. It has to be that way because there is more money in the system than there is value in real world commodities. If people try to buy real stuff the price of real stuff will go through the roof plus they won't have the means to actually secure their stuff. So they keep shuffling the paper.

People with substantially less wealth can go ahead and buy metals and land because they have only such tiny amounts of money. Even at the current $1680/toz there isn't enough gold in the world to satisfy more than a tiny fraction of demand if someone were to try to convert all outstanding dollars into gold.
 
FluffyMcDeath said:
It's a game. You just keep moving the "money" around to lose less. It has to be that way because there is more money in the system than there is value in real world commodities. If people try to buy real stuff the price of real stuff will go through the roof plus they won't have the means to actually secure their stuff. So they keep shuffling the paper.

People with substantially less wealth can go ahead and buy metals and land because they have only such tiny amounts of money. Even at the current $1680/toz there isn't enough gold in the world to satisfy more than a tiny fraction of demand if someone were to try to convert all outstanding dollars into gold.
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I bet many gold seller don't want the euro, british pound,swiss franc, ect...
 
Dammy said:
Today, I was amazed to read that Europeans are taking capital out of Europe and putting it into US T-Bills, I thought the Europeans where smarter then that.
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As sad as the state of the US economy it's still one of the best nations for investment.
 
cybereye said:
I bet many gold seller don't want the euro, british pound,swiss franc, ect...
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There isn't enough sterling in circulation to buy all the gold. Likely the same with the swiss franc.

Besides, last time some fool tried to do large scale international commodity trade in something other than USD they were invaded and executed.
 
the_leander said:
There isn't enough sterling in circulation to buy all the gold. Likely the same with the swiss franc.

Besides, last time some fool tried to do large scale international commodity trade in something other than USD they were invaded and executed.
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invaded and executed?
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It must be illegal drugs trade.
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I'm just watching the markets around the world. On Bloomberg. There are a lot of red numbers in Asia. Waiting for Monday to roll around to the rest of the planet.
 
FluffyMcDeath said:
Remember Saddam?
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I am not so sure. You and I are talking in a differemt page here? the_leander was talking about "large scale international commodity trade" as in the exhange, not deal makeing between two conutry.
 
cybereye said:
I am not so sure. You and I are talking in a differemt page here? the_leander was talking about "large scale international commodity trade" as in the exhange, not deal makeing between two conutry.
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I took Leander's comment to mean Saddam too. The commodity being oil. He was moving away from trading in US$ to other currencies, particularly the Euro.

Don't tell me you're another one thought Iraq was invaded because of the WTC disaster?
 
the_leander said:
There isn't enough sterling in circulation to buy all the gold. Likely the same with the swiss franc.

Besides, last time some fool tried to do large scale international commodity trade in something other than USD they were invaded and executed.
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Muammar is still alive and hasn't been executed, yet. Not that I wouldn't mind seeing him executed, mind you.

 
Muammar is still alive and hasn't been executed
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if i recall at least two of his sons are now dead. he won't live all that long...I mean he's OLD
:D

kill his sons and his empire is basically dead
 
cecilia said:
if i recall at least two of his sons are now dead. he won't live all that long...I mean he's OLD
:D

kill his sons and his empire is basically dead
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I have nothing against his sons, AFAIK, they were not the ones ordering the bombings in Germany or Scotland. If the US was there to drop a 2,000 lb LGB on Muammar's head, that's fine by me. Going to war in Libya without consent of Congress and then give the finger to the War Powers Act (which I can easily see being unconstitutional) as a hard line Progressive President, something is up with that. This is in Africa, not Europe and I don't see why NATO is involved in the first place, less there is a unseen agenda. Was it Muammar's plan to use gold for Africa exports? Is Obama just playing lapdog to the European elites? What other elites is he being a lapdog to? Why is Obama hell bent on pushing the US into the $20T+ national debt? What is Obama's objectives by doing all this? Who is telling him to do this?
 
Dammy said:
I have nothing against his sons, AFAIK, they were not the ones ordering the bombings in Germany or Scotland. If the US was there to drop a 2,000 lb LGB on Muammar's head, that's fine by me.
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So, you have no problem using high power indiscriminate ordnance with a large collateral footprint to eliminate one person. And you wonder why some people don't like the US?
 
Robert said:
I took Leander's comment to mean Saddam too. The commodity being oil. He was moving away from trading in US$ to other currencies, particularly the Euro.
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Sure the US attack for Oil, but I don't think it the Euro itself. My guess is that man may have a major influence in the oil market. Well either way, I don't think US invaded and executed because of Euro. That is too simple thinking. It got to be much more than that.
 
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