Late Night Market Discussion Thread
Submitted by
CalculatedRisk on Mon, 02/16/2009 - 8:19pm (574 comments)
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OK, some sort of rumored forced liquidation event ... but that is all I've heard.
best to all.
First!
Gold's certainly moving up - maybe not earthshaking, but it's significant.
Gold is doing just fine...
Does anybody have a link to an updated Level 3 asset comparison? The most recent I've seen are from October, and I'd love to see a refresh.
CR - No fair taking 1st.
If there's a market on the short term prosp;ects of California I'll take the under. Still, long term, the over is a no brainer.
Its getting bleaker by the minute in Eastern Europe.
FT Alphaville
spooky forex happenings.
Euro weakness stands out tonight. Hard not to be worried about E.Europe and the knock on hit to major banks.
Damn, lost my train of thought.
Nostrovia,
Threads over on Ticker Forum discussing this. Someone posted:
0124 GMT EUR/JPY, EUR/USD fall sharply, senior dealers at major banks in Tokyo say big amount of stop-loss sell orders triggered - these orders eyed around 1.2730, 117.00 respectively. EUR/USD last 1.2691, lowest since December, may fall to 1.2600; EUR/JPY last 116.77, may fall to 116.00. Adds Asian short-term investors pushed pair down to trigger stop loss orders earlier because Japan stocks weak
0137 GMT EUR/USD sharply lower on selling from a "big name," dragging AUD/USD down with it.
Let me get out my Sushi Squirrel cookbook...
for some reason i thought the zloty, forint and various korunas had become euros by now...
guess not
Damn. I keep pushing the wrong button on my bloomberg. Nothing to see here, move along now.
Seriously though, I'm glad I can count on KD and the crew here at CR to give me enough warning to run to the ATM and 24-hour grocer when TSHTF.
Good night all
Gold's certainly moving up - maybe not earthshaking, but it's significant.
suecris
As is Silver...
24-hour Spot Chart - Silver
SOmethuing happened at 8pm EST. Gold, currencies moved in tandem. Then everything stabilized. Gold is starting to drop back down. EURUSD stable... Nothing to see here. Move along.. KD is crying wolf...
"Still, long term, the over is a no brainer. "
if a signficant portion of my net worth was in CA real estate or other CA-oriented investments, I suppose I'd tell myself the same thing
this could have something to do with FX dislocation in asia apparently.
An Error has occured | Reuters.com rb...EO9217620090216
woori bank.
The buzz is nothing more than the smart ones panicing first, in short, controlled bursts. Take that for what it is
Forced liquidation of what type?
Thanks man.
0137 GMT EUR/USD sharply lower on selling from a "big name," dragging AUD/USD down with it.
Hmmmm.....
Timmay closer to GS or JPM?
Nostrovia,
China's central bank conducted a large drain from the money market through bond repurchase agreements on Tuesday, another sign that it may want to prevent market liquidity from easing further, traders said.
The bank drained 120 billion yuan ($17.6 billion) via 91-day bond repurchase agreements. Since a total of 81.5 billion yuan in central bank bills and repos is due to mature this week, the bank is on course to conduct a significant net drain from the market for the week, after it injected a net 19 billion yuan last week.
Some traders believe the central bank may be increasingly keen to drain excess funds because of concern that a surge in bank lending could be fuelling a stock market bubble and flows of money into companies' bank deposits, while doing relatively little to encourage long-term investment in an economic recovery.
Data last week showed new yuan lending soared to a record 1.62 trillion yuan in January. But 39 percent of the new loans were in the form of short-term discounted bill financing, up from an average 13 percent in 2008.
Some analysts believe much of the money raised by the bill financing went into the booming stock market, where the main index has climbed 31 percent this year, rather than into long-term investment in companies' operations.
The banking regulator is investigating the jump in discounted bill
Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor
Hommy ain't gonna play that bubble crap.
Nouriel Roubini trusts Timothy Geithner to get it right on US banks - Telegraph
Telegraph
Nouriel Roubini trusts Timothy Geithner to get it right on US banks
Nouriel Roubini can see that the 'N' word might be a little difficult for Western governments to swallow right now. But for him, it's the right indeed, the only route to follow.
Nouriel Roubini wnat's to be O's lap dog.
Prescient11, that is all I've heard. There are a few comments above that have some ideas ... it doesn't seem too significant, and could just be rumor to explain the moves in the dollar,etc.
best wishes.
Nouriel Roubini can see that the 'N' word might be a little difficult for Western governments to swallow right now. But for him, it's the right â indeed, the only â route to follow.
FFDIC | 02.16.09 - 11:46 pm | #
Am I the only one to see the supreme irony of Barack Obama being the one to find himself forced to displace the old "n" word with the new "n" word?
Supper's Ready:
http://www.youtube.com/watch?v=iaion3iSjdg&fmt=18
Gold is up nicely in US $ and really taking off in all other currencies....
Am I the only one to see the supreme irony of Barack Obama being the one to find himself forced to displace the old "n" word with the new "n" word?
Rob Dawg | Homepage | 02.16.09 - 11:49 pm | #
Nope. I kept seeing 'n' word and reading the racial one. Strange juxtapositio
Damn, I keep hearing panic but I keep seeing nothing. A $10 move in gold is one percent.
.
Ok, I actively trade the USD/JPY and haven't seen anythihg except for the Yen getting weaker this evening.
Reckoning appears around the corner. I can't believe that GS is near $100 again. Perfect shorting opportunity in my opinion.
Love the blog, although Shedlock depresses the hell out of me.
Am I the only one to see the supreme irony of Barack Obama being the one to find himself forced to displace the old "n" word with the new "n" word?
Rob Dawg | Homepage | 02.16.09 - 11:49 pm | #
Nope. I kept seeing 'n' word and reading the racial one. Strange juxtaposition
Joanna | Homepage | 02.16.09 - 11:51 pm | #
Let's start referring to it as the "P-P" word.
Got to save that meme.
More bank downgrades.
Banks Face Eastern Europe Downgrades, Moody’s Says (Update4) - Bloomberg.com
Austria Most Exposed
Austria, whose banking system is most exposed to central and eastern Europe, has two of the biggest lenders in the region. RZB made 79 percent of its 2007 pretax profits in eastern Europe, including Russia and Ukraine through its Raiffeisen International Bank Holding AG unit, and Erste Group Bank AG earned 65 percent of its pretax profits in countries including Romania, the Czech Republic and Slovakia.
A little boy who cried wolf going on here.... there have been much larger FX moves than 1% in the same timeframe.
A $10 move in gold is one percent.
Broward Horne | Homepage | 02.16.09 - 11:52 pm | #
-----
True, but the Europeans & Americans aren't at work yet.
The energy may be coming from the expectation of what they will do in response to Asia tonight.
Damn, I keep hearing panic but I keep seeing nothing. A $10 move in gold is one percent.
.
Broward Horne
It is the combination of gold/USD spikes, other currencies and markets down. All at the same time. Trillions moved at once, in the same direction. It is important
ow there's irony. downgrades of the austrian and swedish banks.
c'mon CR! It's the Late Night Thread! Let your hair down a little! Fan. The. Flames.
I would have some scotch, but I'm up for abuse by a professor tomorrow. They don't like to abuse you hungover.
Alright FFDIC, I'm doublin' down. we hit 600 on the CR-ometer tomorrow and 600 down!
As an Obama supporter, I'm actually hoping the one mystery Republican who hasn't yet voted for Arnie's budget holds out forever. I want the public employees to start feeling what it is like to fear a layoff, see a business collapse or have your lifetime of retirement savings cut in half. So far, all they are suffering is an unpaid holiday twice a month. And when I visited the local planning department last week, I saw just as many people behind desks as I saw at the top of the building boom. State workers have been massively defrauding taxpayers for years now, and I've had enough.
"Austria âMost Exposed'"
Amazing the correlations every step of the way over the last 2 years between now and GD 1.0. Wasn't it an Austrian bank going under in the 30s that precipitated GD 1.0?
Stiglitz in very funny interview on Colbert...it's from october 14th. it's outstanding.
Joseph Stiglitz | Thursday October 9 | ColbertNation.com
stiglitz is pretty funny.
A $10 move in gold is one percent.
Broward Horne | Homepage | 02.16.09 - 11:52 pm | #
It isn't a huge move but an important one because gold hasn't been strong during Asian market hours of late.
South Korea on Tuesday dismissed market talk that the country could plunge into a foreign exchange crisis in March, saying the country had sufficient capability to meet foreign exchange demand. "Such a concern about foreign-currency liquidity shortages is exaggerated," Vice Finance Minister Hur Kyung-wook said during a programme on the state-run KBS radio.
Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor
It is the combination of gold/USD spikes, other currencies and markets down. All at the same time. Trillions moved at once, in the same direction. It is important
cornface | 02.16.09 - 11:55 pm | #
-----
This statement too. It is/was just odd.
You don't have that kind of single movement come from no where, hit you, and disappear back into no where... usually.
You have a lot of usually divergent assets moving in a highly correlated manor... That is "spooky", but it has happened before - right after Lehman failed
What a coincidence... I'm upside-down in a highly correlated manor outside paso robles.
Karl D just locked his site down to freeloaders like me...only the elect have access atm. I've only seen him do that once before, though I might have missed some occasions as well.
The size of the gold move is not huge in dollar terms, though it is sharper in other currencies currently weakening against the dollar. What is interesting is seeing gold strenghten while other asset classes are generally being sold off...recall some of the monster days last year when ALL asset classes tanked except T's...
Yea - for those of you on this blog long TBT - you might want to re-think that tomorrow.
@dumb luck
please continue with your rant against public workers.
it makes me feel better to read it.
"Such a concern about foreign-currency liquidity shortages is exaggerated," Vice Finance Minister Hur Kyung-wook said during a programme on the state-run KBS radio."
He continued, "We're well capitali..."
but was strangely cut off.
Nostrovia,
429 visitors.
Something is up.
First!
Gavshire Hathaway | 02.16.09 - 11:39 pm | #
You can't beat the house.
You don't have that kind of single movement come from no where, hit you, and disappear back into no where... usually.
yagij | 02.16.09 - 11:57 pm | #
A great disturbance in the Force, as if millions of voices cried out in terror and were suddenly silenced.
Gold is now bearing in on 960 USD/oz. Not bad for Hong Kong to go from ~941 USD/oz. upwards to 960 USD/oz. in a single session.
JD2B, Apparently some guy named Denninger put out a "RED ALERT" tonight titled "FX Dislocation in Process". That appears to be the source of the rumors ... something about -"massive liquidation event", "Asian stock markets" getting "walloped", and more ... but I don't see it in the numbers - so I think it is a false alarm.
best wishes.
To get an idea of the Austrian exposure in Central/Eastern Europe this stress test document is quite illuminating.
http://www.haloscan.com/comments/calculatedrisk/5350912462569942787/#890406
The vultures are circling.....
gold spiking up 16 so far
It is the combination of gold/USD spikes, other currencies and markets down
I don't follow currencies except the dollar, but I've seen much larger moves on the Asian open.
I still don't see a reason to care.
.
New fears on fate of economy - Times Online
London Times
New fears on fate of economy
The Bank of Englands Deputy Governor warned yesterday that the recession could be even worse than it suggested less than a week ago. Charles Bean said that there was roughly a three in four chance that the economy would contract by more than the 4 per cent predicted by Mervyn King last Wednesday. His warning, the starkest by a senior bank figure, comes as fears mount that the UK is heading towards a period of deflation. The retail prices index (RPI) is tipped to fall below zero when figures are published this morning. Mr King admitted last week that the UK was already in a deep recession. His forecast that economic growth would fall by 4 per cent during 2009 would amount to the most severe peacetime recession since 1931.
"Karl D just locked his site down to freeloaders like me...only the elect have access atm. I've only seen him do that once before, though I might have missed some occasions as well."
He does this during heavy load periods.
Here is the RED ALERT.
False alarm I think ...
i'm curious to see what the au chart does at 3:30 am ET after the london am fix, if it doesn't level off before then. these asian price spikes are giving me deja'vu a la last september.
otishertz - exactly! I'm half expecting to hear that europe has opened to ASK-ONLY
KD is saying that secondary currencies are now getting hit.
Well then, we need our own code. You know, to counter this 'Red Alert' code.
How exactly do you sound a false alarm alarm?
It is the combination of gold/USD spikes, other currencies and markets down. All at the same time. Trillions moved at once, in the same direction. It is important
cornface | 02.16.09 - 11:55 pm | #
-----
This statement too. It is/was just odd.
You don't have that kind of single movement come from no where, hit you, and disappear back into no where... usually.
yagij | 02.16.09 - 11:57 pm | #
We will have to get used to these "freak waves" of capital sloshing around the capital markets. The central banks have been pouring liquidity into the markets for a couple of years now.
We should not be surprised if some of it moved. Since all the traders talk with each other and they are all running scared, it is understandable that they bolted at the first hint of trouble.
Page Not Found
False alarm I think ...
Calculated Risk | Homepage | 02.17.09 - 12:03 am | #
-----
You have to admit that the message's effect has been interesting.
We have 4 posts from you on a late night thread with 470+ visitors actively monitoring your comment section. We had to come from some where. Maybe there was a twitter alert and the hordes of CR readers decided to converge to see what the excitement was about.
anybody a tickerforum subscriber? can you please forward info? thanks...
don't know why in the world KD would 'lock down' on something like this...
I love the guy but he is his own worst enemy
I think the term "false alarm" is a bit of an oxymoron at this point in the kabuki.
If there's a dollar demand why are gold and silver spiking as well...
London am fix...
Nostrovia,
I'm looking at various charts and I'm seeing a goatse.cx formation - oh, that's just US taxpayers.
I personally find Denninger annoying most of the time, but I'm not sure it's a false alarm. A currency move of this size used to be considered quite significant. Though it is minor compared to some of the days we had in October.
What's different this time is that gold is rising significantly against the dollar. In October, gold would have dropped on a night like tonight.
His forum isn't locked to me. It just got knocked out because apparently more people clicked it in the last 30 minutes than he usually gets in a day.
We will have to get used to these "freak waves" of capital sloshing around the capital markets.
NorkaWest | 02.17.09 - 12:06 am | #
-----
Depends on the "wave". Lehman's failure and its aftermath caused many people to blink and ask, "WTF just happened?"
The "real" news may be Korea's pending liquidity crisis/crunch, and unlike 1997, the world can't handle another Asian 'sneeze' at this time. The blips in the market were just the response.
Off to stock on anti-depressants and drain the ATM - back in a few.
Denninger's site is getting slammed. Someone digg-ed it.
This is not good to feed ideas that are based on retarded wild rumors! We can have fun with this, but what is the point of feeding the ego of a hack like deninger?
I am not ready to make the call either way...this is like the tsunami warning, all we know is there was a quake, but not sure if the wave is coming or not...if you see lots of extra beach and fish flopping around, run for the high ground...
Nite all, keep the watch fires burning.
For those locked out of Denninger...
"
RED ALERT: FX Dislocation In Process
8:17 CT
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.
Unfortunately.
I hope I'm wrong; this is going to be a long night.
"
"Such a concern about foreign-currency liquidity shortages is exaggerated," Vice Finance Minister Hur Kyung-wook said during a programme on the state-run KBS radio.
Toe-tag that one and take him to the cooler, he's gone.
It just got knocked out because apparently more people clicked it in the last 30 minutes than he usually gets in a day.
Which was what he wanted, so thank you CR for feeding this retard a cookie!
KD's having BW issues...not locked...sheesh.
"its the pipe that's stuffed full. The load on the dbms is stable; I've got a LOT of spare cycles but not one spare bit-space in the pipe."
Nostrovia,
Why do some people think a RED ALERT page with a nuclear bomb montage video is alarmists??
Just chill!
it's a flight to safety pushing Au and Ag higher too.
Are you saying that denninger's bong has too much dope in the chamber?
the unfilled gap down in EUR.USD last night is very bothersome in light of the big move three hours ago.
This is not good to feed ideas that are based on retarded wild rumors!
It's relatively easy to set off a panic if people are already primed. I've been smelling something like panic on CR for several days.
.
the tickerforum is locked
that's what I'm interested in
anyone? much appreciated...
RE: Are you saying that denninger's bong has too much dope in the chamber?
now that was funny.
Bird hit an engine?
Freak sonic boom and flash in sky?
Earthquakes in diverse and uncommon places?
Swarm of mini-quakes?
Absolutely uncorrelated, absolutely.
No man knoweth...
541 here after midnight on a "school night"?
I'll bet TBT gets hammered tomorrow.
And maybe for the next few weeks.
Then, I'm buying some!
How Nuclear Subs Could Go Bump in the Night
How Nuclear Subs Could Go Bump in the Night - International News | News of the World | Middle East News | Europe News - FOXNews.com
A couple of elite nuclear submarines, the British HMS Vanguard and the French Navy's Le Triomphant, collided in the Northern Atlantic on Feb. 4 while "conducting routine patrols," both countries acknowledged on Sunday. Both subs are armed with multiple-warhead nuclear missiles.
Maybe this is what has him running around in his mini skirt and waving his hands like a bird fall from the nest?
Thanks for entertaing me tonight, guys. I must be insane to think this is fun reading
Anonymous, hey, I was asked to put up a thread, I did. First I just heard some rumors, but I didn't know the source. When I found the source, I noted it appeared to be a false alarm - it does - and readers can judge for themselves.
I think that type of language should be reserved for real cliff diving - "walloped" should mean 6%, 8% or more off these days.
Oh well ...
best to all.
Denninger has a quite a cult following. Gets alot right but is very temper-mental. Piss him off by disagreeing with him and you find suddenly you're banned. Bit of a bully. Sometimes quick to jump the gun too. We'll just have to see if this is a false alarm.
RE: Are you saying that denninger's bong has too much dope in the chamber?
Can I use this? I'm using it anyway.
If a treee fell in the CR comments would anyone hear?
BOO!!!!!!
I watched a special on youtube about a currency dislocation event that was made by BBC or some Europe foreign news agency and it started just like this- except it was the dollar getting smashed not foreign currencies,
i sense meltdown soon but not tomorrow.
i bet we move down tomorrow and then recover in a flaming short squeeze. too many idiots will short a down open setting the stage for a late day squeeze.
563 visitors. People paying attention tonight to this.
CRVIX did this on some asian thing 3-17-08 IIRC.
Nostrovia,
Oh no, CR slamming an anonymous, this is serious.
Jillayne, I think we are all a little crazy right now ... some guy shouts "liquidity event" on a crowded internet, and everyone starts looking for The Market Crash! Oh well, it was fun ...
best wishes
if no plausible explanation or reversal materializes in 36 hours i'll assume it is insider positioning, meaning the move is a prelude.
CRVIX at 555? Octuplets or just false contractions?
525...
TBT will be down? Isn't that sort of a secondary/tertiary symptom of a disease? You know.. Panic caused by who knows what.. Sell off in global equities. Flight to dollar, gold, Ts. Yields down on Ts. TBT down. See how far past the starting point that is?
Still nothing to see here... KD is full of shit.
A chicken in every pot!
KFC to create 9,000 jobs and open 300 outlets
404 Page not found
After a few drinks, deninger surfed the web and fell on his mouse, passing out for hours, waking to this picyure:
Naval Art From the Atomic Bomb Test in Bikini Atoll
Cynical-C Blog: Naval Art From the Atomic Bomb Test in Bikini Atoll
The rest can only be found here at CR.... in the future...
Someone remind me: Why does denniger have credibility?
otishertz: agree. some CB leaked details to their buddies!
Come on CR. The world economy is an accident looking for a place to happen. Why not here? Why not now?
CR:
It could also be a dislocation caused by the Woori bank situation in Korea, as I believe several other posters have noted. Just an fyi.
cornface,
I've followed your comments these past couple of days with interest, but I don't recall seeing you on this board. Have you been posting here for long, perhaps under a different handle?
from Denniger:
8:17 CT
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.
Unfortunately.
I hope I'm wrong; this is going to be a long night.
CR - sorry for the cranks. I need to focus on my own problems. Thanks...
More and more, events seem like Risk in reverse. Think banks instead of armies. 'You've got 12 banks in Kamchata; well I've only got 1 bank in Alaska. I win!
Re: ey, I was asked to put up a thread, I did
I forgive you and have enjoyed the show!
Groovy pixs, which I never would have found, so thanks man!
http://www.history.navy.mil/ac/bikini/95129u.jpg
Operation Crossroads: Bikini Atoll: Naval Art form the Atomic Bomb Test
563...
More melodrama than a Bollywood movie
what if it is a blowoff top?
Also.. could you all stop reposting Denninger's post? If he hasn't followed up in 3 hours he doesn't have shit to go on. This is like screaming fire in a crowded theater. Dumbass.
585 visitors!, I feel exposed...
Whenever I tell people my theory about a short squeeze in silver, like we had with Bunker Hunt, they say: "Who would try to do that?"
The answer might be nobody. With flows this strong and chaotic, you could wake up some morning and see that a squeeze in silver just happened by accident.
There is not that much physical silver available in the world right now. I know from following SLW that the mines are paring back production. The same mines bring out copper, zinc and silver and copper and zinc prices are too low to operate in some cases.
Over time, scrap silver would start to flow to market to meet demand. But it would take weeks or months to collect and melt it.
A big part of the above-ground silver that can be identified in the world sits in SLV, the ETF. 245 million ounces.
SLV sucked up a lot of physical silver. Because nobody has enough money to buy gold jewelery these days, the jewelry stores and counters need silver to stay in biz.
Also, silver is developing new markets in health care.
cornface,
I've followed your comments these past couple of days with interest, but I don't recall seeing you on this board. Have you been posting here for long, perhaps under a different handle?
sportsfan
Yes.
CR bringing it strong to the late night thread--me LIKE!
576...
Atomic Bomb Explosion, Sub-Surface Blast
Charles Bittinger
Oil on canvas, 1946
http://www.history.navy.mil/ac/bikini/66364a.jpg
Plus 1 Second Bikini Atoll
Grant Powers #3
http://www.history.navy.mil/ac/bikini/88181c.jpg
Alot of speculation. It seems pretty clear that something leaked out from the G-7 meeting would be my guess and there is some front running going on.
I agree w/ CR - the fact that such uncertianty exists is enough.
If the radiance of a thousand suns
were to burst into the sky at once,
that would mirror the Mighty One's splendor....
I am become Death --World-destroyer.
--The Bhagavad Gita
Even the stars above him move.
He knows God's power --but not His love.
Yes
cornface | 02.17.09 - 12:23 am | #
Tha
Anonymous(Unrated) writes:
\t429 visitors.
Something is up.
Anonymous | 02.17.09 - 12:00 am | #
Yeah. Denninger.
Someone remind me: Why does denniger have credibility?
JP | Homepage | 02.17.09 - 12:17 am | #
-----
To be honest, I don't know how it blew up from ~170 readers to ~590 readers. Some of us were chatting about it as some kind of Night Crew fodder. Some of us watch PM movements. Some of us watch forex. It just seemed like a combination of different interests and it took off from there.
CR did us a favor to give us a place to chat without interfering with the real CR posts. No one has made claims to run to the ATM, stock up on bullets, or any other kind of zanyness. How it got to this point, heck if I know. I think some of us just thought "Hmm, that's odd." and not "OMFGWTFBBQ!!?!"
So in short, Denn has had his moments like many econ bloggers. Some hits; some misses. Some French doctors at the time thought Nostradomus was crazy for advising his patents to get fresh air, drink clean water, and get moderate amounts of exercise. Only time will tell how "crazy" Denn is.
I've got to call my entire extended family!!! this is huge!
(running around in circles)
Bikini or Monokini? The Name of the Game
Erik's Choice: Bikini or Monokini? The Name of the Game
So the sexy bikini was named after Atomic testing in the Bikini Atoll, where things were warm, sunny, and Pacificky if not exactly pacific. The indigenous people of Bikini were "relocated" to nearby islands so the US Government could test and explode A-bombs in the 1940s as well as the first H-bomb, in 1954.
I'm pre-emptively shooting my extended family!!!! THIS IS HUGE
yagij,
"I think some of us just thought "Hmm, that's odd.""
Yep, prolly should have stayed that way.
I'll wait to see London am. Until then...
Nytol.
Nostrovia,
Good Lord, what are all of you doing here!??
shoo, shoo now.
and it counts FFDIC if we hit 600 tonight!
(running around in circles)
Have a Great Depression! | 02.17.09 - 12:26 am | #
LOL...
"Nouriel Roubini trusts Timothy Geithner to get it right on US banks"
yeah, this is most unfortunate, but we've heard it before. was it IMF they worked at together or somewhere else?
I think a lot of people saw the japanese finance video and assumed he must've seen cthulhu
Hoop,
"I'm pre-emptively shooting my extended family!!!! THIS IS HUGE"
Meh, I went out and bought 3 houses.
(honestly......oh and the post......
BWAHAHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHHAA!)
Nostrovia,
http://www.fileitunder.com/uploaded_images/panic-767792.gif
shameless hotlinking
NetDania - QuoteList - Application - Live forex rates, real-time forex rates, live currency rates, foreign exchange rates, exchange rate
I would have been way better if Geithner had said Nouriel Roubini did my taxes but Turbo was pretty classic.
a lot of people saw the japanese finance video and assumed he must've seen cthulhu
Bush hasn't been to Japan in ages.
.
CRVIX at 555? Octuplets or just false contractions?
Rob Dawg | Homepage | 02.17.09 - 12:16 am | #
Maybe a major spill of DHMO perhaps?
Facts About Dihydrogen Monoxide
ACHTUNG, ALERT, GOLD wird auf den Mond!
Внимание, ALERT, золото GOING на Луну!!
VARNING, ALERT, guld går till månen!
警告、警告、ゴールド月に起こっている！
Oh.. Hillary is in Asia - that explains the dislocations. Go to bed now. Sorry for the panic.
"Land of the Free and Home of the Broke: The United States of Insolvency."
Page Not Found - The Daily Bail
The author of the above article believes the total national debt will be $20 trillion in a few years. The interest on the debt might reach $1 trillion.
Good morning from Europe!
As I see the Dow Jones is going to re-test the bottom of November 20th, 2008
Nice coincidence: Dow and Nikkei will have the same quotes, a matter of being in the same shit!
Europe: Eastern Europe will tell us more today and there we are in big shit.
There is a shit self-fulfilling prophecy...in the long (rather short...) run we will be all dead!!! can US fix few banks first?
Tha
sportsfan | 02.17.09 - 12:24 am | #
That was "Thanks" when I wrote it. Haloscan strikes again.
Flaming squirrels rocket to $5.00 per pound as Denninger predicts possibility of $7.00
Also see: YouTube -
I don't get why this round should start in Eastern Europe. They know what goes in sausages, right?
Gold up $20 in a few hours.
601]
Stock Futures on Bloomberg
Bloomberg Futures red...
606
SHOOT YOUR FAMILY NOW BEFORE ITS TOO LATE PEOPLE
"I don't get why this round should start in Eastern Europe. "
that's the script - it progressively moves from the smallest (iceland) through to the biggest (UK etc). scheduled for next on the food chain is central europe.
THE DILITHIUM CRYSTAL MATRIX IS REDLINING
CAPTAIN SHE'S GONNA BLOW
My CRVIX is showing 606 visitors...
yesssss!
now comes that magical heebeejeebee number 666 CR gets sticky on events like this.
Keep your CRVIX in your pants!
Anyone know an engineer at a global ISP that can analyze traffic patterns, regional usage spikes?
If we hit 666 like we did everyday for a week in October, I am running to the ATM;)
We are certainly standing right at the edge of the cliff at this second. The cliff is 800. Overnight futures are at 807...that's an implied fall of 2.2% in the index from Friday's close.
Shit 666 and Hillary is in Asia...
The Latest from Mish:
Kansas Suspends Income Tax Refunds; California One Vote Shy On Budget Impasse
Time to change my rating there, ac.
Crash cause clues?...Clinton in Asia...Kansas' money problems...
Crash cause clues?...Clinton in Asia...Kansas' money problems... | KXNet.com North Dakota News
Or, it may have been this in addition to facts that built up all day (and night)
Asian Economies In Free Fall as Exports Crash
Asian Economies In Free Fall as Exports Crash :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
FFDIC.....Hope everything goes fine......Yours in Peace
NBA had to borrow $175M for 15 teams that presumably couldn't raise the money themselves.
NBA securing $175M for clubs
The private-placement deal was arranged by JPMorgan Chase and Bank of America. In a private placement, non-banking lenders such as pension funds and insurers extend the cash, commonly at fixed rates for five- to seven-year terms and at rates higher than what banks offer for floating-rate loans.
Youtube pulled my upload but here's my Myspace one.
Thread music, Sex Pistols starts 30 seconds in.
MySpace Video - Watch & Share Videos, Video Clips, Music Videos, TV Show Vids & Movie Trailers Online index.cf...ideoID=21152891
i've heard the rumors that the metals ETFs may not have, or not be able to procure, all the metal they are supposed to have to match the insane quantity of share purchases. it seems likely they don't, especially when you find the usual pm manipulatiors guarding the vaults. the size of these ETFs is making them the dominant players in the market. you gotta wonder with all the GLD and SLV being bought why the spot price is not reacting more strongly. seems that the pm not being bought is a very possible answer. now the flip side, when the market continues it's dive and people need cash for bills, they will sell these etfs right away. i suspect that mass redemptions in GLD and SLV shares will have an asymmetric effect on the spot price compared to the same price movement on the upside.
the etfs make me very queasy. i feel like there is a setup going on there that is going to be big news.
have agenda, create crisis, solution=agenda
"Then we race together
We can ride forever
Wrapped in horsepower, driving into fury
Changing gear I pull you tighter to me..."
--Judas Priest "Turbo Lover," or how we all feel about the dollar.
.
@Don't Cry
I agree, was trying to make a lame joke (about sausage making and banking). I'm surprised we're not hearing more about Spain right now.
Krugman may need to give his award to Denninger...of course he would take it to the pawn shop pronto...for a new Lazyboy..
Is Angelo Mozillo in prison yet? When he is sentenced is he going to be able to tan in the yard.
The cliff is 800.
Myr | 02.17.09 - 12:36 am | #
-----
Bingo.
If we break through 800, then we could easily move back to retest the lows of Nov. '08. I'm not sure if there is a firm enough support level to stop that elevator especially since hedge funds may be liquidating soon to handle redemptions in March--if they haven't gated in all of their investors.
Maybe this??
China threatens to trigger US dollar crash
China threatens to trigger US dollar crash - Telegraph
Described as China's "nuclear option" in the state media, such action could trigger a dollar crash at a time when the US currency is breaking down through historic support levels.
It would also cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession.
It is estimated that China holds more than $900bn in a mix of US bonds.
That has to be it, because that was from Aug 2007 and history has a magical way of being like a pattern that some people can see, like Mr. D!!!!!
7800 is broken on future...
IT'S KANSAS, STUPID!
duh
Sex Pistols working link
Ron Paul & The Sex Pistols on Jay Leno Video by michael - MySpace Video
Congress is much more capable of causing a dollar crash than China, thank you very much.
it looks like momentum is carrying through to EU and US..
"NBA had to borrow $175M for 15 teams that presumably couldn't raise the money themselves."
@ Basel Too (Basil, of Faulty Towers fame?)
Finally, 'slam dunk' is irrevocably discredited?
Maybe this?
Patsy Cline comes to life in Elbow lake
The Fergus Falls Daily Journal - Patsy Cline comes to life in Elbow lake
See and hear:
YouTube - Patsy Cline - Walkin' After Midnight
We just broke 600 oh noes!
also to the guy who asked: use google trends to see search patterns.
7800 is broken on future...
M.G. in Progress | Homepage | 02.17.09 - 12:40 am | #
-----
The DOW future has a 76 handle on it.
The S&P is ~6 points from 800.
Europe could be an interesting place today.
This just in......After seeing that Red Alert I crapped my pants.
FT.com / Markets - Overview: Grim Japanese data deepen global gloom
FT
Overview: Grim Japanese data deepen global gloom
Poland is having an FX dislocation that could take down European exposed banks according to the Financial Times. Like evans-pritchard said- If a flame jumps the fence there will be a huge dislocation event and fast.
Would the East Coast please go to sleep? The Europeans are waking up and if the number of visitors at CR goes over 1000, Denninger is going to put out another Red Alert.
"...the supreme irony of Barack Obama being the one to find himself forced to displace the old "n" word with the new "n" word"
What, you still have a hankering to keep using the old one? After all, Obama is not the one being 'forced to displace' that term, those being forced to stop it are the ones that previously used it. Or is this just another example of Obama=FAIL, because after all, being in office for less than a month makes him responsible for years of other people's decisions and failures?
Still trying to set the tone here? - shame that your pronouncements about how politics has no place here is roughly on a par of your pronouncement about staying away. I guess you just can't actually expect a dawg to just walk away - regardless of the advice said dawg provides to other people to walk away from their mortgages. Well, when the mortgage seems to be large enough to indicate that a dawg's financial advice is for one of the privileged, as compared to the irresponsible and stupid who refuse to actually honor their obligations. Those who say one thing, and then do another, you know, those sort of people who have brought us to ruin.
As if race and financial mismanagement have anything to do with each other. Actually, I take that back - white men do seem utterly incapable of running America's banks without losing huge amounts of money, a fact backed by American history.
Not that I expect any change in that department any time soon. See? Another failure of Obama's - he can't even replace a corrupt and incompetent regime of Wall Street white males with people who are actually capable of running a financial system without massive self-enrichment.
Serious question (likely posed before, apologies if repetitive).
How do so many CR moths congregate amidst (economic) war and/or rumors of war so quickly, later verified or not?
Kinda weird to see so many visitors at CR at this time of night. I read the KD piece earlier but is there more to it than that?
Fiscal Stimulus Is a Ruse Absent Fed Pixie Dust
Fiscal Stimulus Is a Ruse Absent Fed Pixie Dust: Caroline Baum - Bloomberg.com
Pixie Dust
Before you get too depressed about adding trillions of dollars to your childrens tax liability, consider the following: There is an entity that can spread pixie dust on the economy and enable it to fly. Its called the central bank.
Fiscal policy gets its bang from monetary policy, says Paul Kasriel, chief economist at the Northern Trust Corp. in Chicago. If the goal is to stimulate aggregate demand, fiscal policy always needs monetary policy, he says.
In the current environment, with banks unable to perform their function of creating credit, monetary policy needs fiscal policy to stimulate demand, he says.
Of course, the by-product of the Feds monetization of the Treasurys debt is inflation, Kasriel says. But thats tomorrows problem.
Thread Music:
YouTube -
regarding teh NBA bailout.
this one is going to be bad. no way franchises can survive in the coming years.
tix are super expensive for most families.
i hate nba style hoops and i hope the league suffers.
was anyone aware that the Pacers had to be saved by a local indy telethon in the mid 70s.
call in and give cash to keep your NBA franchise alive.
would it work again?
cuz certain teams will get desperate.
Auto Maker Bankruptcy Looms - WSJ.com
Auto Maker Bankruptcy Looms
GM, Chrysler Plans Due Today; U.S. Taps Car Adviser Known for Extracting Concessions
Buh bye.
Kinda weird to see so many visitors at CR at this time of night. I read the KD piece earlier but is there more to it than that?
locust | 02.17.09 - 12:46 am | #
-----
Published reports or facts? Nope.
South Korea could have a liquidity crunch soon, but besides that, there isn't much going on in the West. All of the excitement has been out East tonight.
Charles Bean said that there was roughly a three in four chance that the economy would contract by more than the 4 per cent predicted by Mervyn King last Wednesday.
His warning, the starkest by a senior bank figure, comes as fears mount that the UK is heading towards a period of deflation. The retail prices index (RPI) is tipped to fall below zero when figures are published this morning.
Mr King admitted last week that the UK was already in a deep recession. His forecast that economic growth would fall by 4 per cent during 2009 would amount to the most severe peacetime recession since 1931.
Per James Turk, no way the ETFs have the gold anywhere to backup their holdings. Future contracts, that's it. Also:
""Land of the Free and Home of the Broke: The United States of Insolvency."
Page Not Found - The Daily Bail
The author of the above article believes the total national debt will be $20 trillion in a few years. The interest on the debt might reach $1 trillion."
And people are buying US treasuries cause they think they're safe. You've gotta be kidding me. How they cannot match up what's about to happen to treasuries...well, fools and their money.
It must be this. Lack of Wisdom
Barry Schwartz on our loss of wisdom | Video on TED.com
...like the ETFs are just a scam sponge to sop up all the investment demand for pm. a diversion that not only suppresses the pm price now but could be used to absolutely crush it through the undermining of faith in the etf itself, causing a run on the etf, and subsequent massive gold sales/shorts.
send lawyers, see.. people come here for disaster porn. most days on CR it is just watching the previews. this here could be a live show. i am so aroused.
False alarm I think ...
Calculated Risk | Homepage | 02.17.09 - 12:03 am | #
Well, this part of Denninger's post certainly seems like a bit of hyperbole...
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....
"Extreme levels of violence?" I've shorted a couple of banks so I need to sleep with a baseball bat in my hands tonight (don't have a gun) because I'm afraid the authorities are going to come by to "arrest the destruction"?
OK, OK, I know what he meant. But to me it's another example of somebody who sees the real world as a support for financial activity instead of the other way around. Nobody out in the real world would use the phrase "extreme levels of violence" to refer to market volatility or to governmental financial intervention.
As dryfly said a while back, "too many accountants on this thread...."
Fed Calls Gain in Family Wealth a Mirage - NY Times
I missed this on the 12th..
NYT
Fed Calls Gain in Family Wealth a Mirage
If I shoot my family and nothing happens I am coming after Denninger!
No, it's not previews. It's like watching it on those old scrambled satellite stations in the 80's. It's definitely going on, and every once in awhile you can catch a boob.
That's what we live for here on the late nite thread.
I thik CR should update the picture for this thread, with this image:
Spluch: Nuclear Explosion
A beautiful yet terrifying picture! It was taken in 1968 by the French army in the Fangataufa atoll. Codenamed Canopus, it yielded 2600 kt. Larger image after the jump.
"and subsequent massive gold sales/shorts"
i think you're getting it backwards, otis. you may be right, of course, but I would tend to see any big hubbub over the status of the etfs esp in re their physical backing as a big positive for the pm markets.
in any case, i don't get the hate on gld. i think it is awesome - you can pay a penny on 95 bucks in bid/ask! that's awesome, and i'm happy to see many folks discovering the beauty that is gold on such fair trading terms. the 6% bid/ask you'll find from the physical dealers out there is a ripoff.
@Pushkar. Well said
Though I think that 'Nurse Nancy' had a happier ending than this will, no offense to Pee Wee.
Now this makes me feel really safe!!
Sen. Kirsten Gillibrand (D-N.Y.) has moved the two rifles that she kept under the bed to protect her upstate New York home, her spokesman said Monday.
"And people are buying US treasuries cause they think they're safe. You've gotta be kidding me. How they cannot match up what's about to happen to treasuries...well, fools and their money.
stuart | 02.17.09 - 12:48 am |"
The final conundrum to be resolved.
Just updated Bank Leverage Stats for 12/31:
Option ARMageddon
Hillary in Asia?
Probably stepped on her dick. Oh!! Wait!!
Red Alert 3 Remix
YouTube - Red Alert 3 Remix
"We are all Socialists now"
That was the cover of the latest Newsweek magazine I saw while shopping at the supermarket tonight.
We Are All Socialists Now | Newsweek Business | Newsweek.com
Tanta would be so proud ....
"a diversion that not only suppresses the pm price now but could be used to absolutely crush it through the undermining of faith in the etf itself"
really? or would a lack of confidence in the etf cause a run on gold? wouldn't the etf have to scramble to buy gold to assuage the market it is whole?
i can see what your saying too, so not sure. what risk is there to the etf originator in the case of its failure?
It's definitely going on, and every once in awhile you can catch a boob.
JD2B | 02.17.09 - 12:52 am | #
rent_to_own has already posted. Did you miss that boob?
i'm not a big gold bug but i do love a good financial conspiracy theory. it is hard to find more compelling conspiracies than in the precious metals markets.
so maybe the government some day nationalizes the pm ETFs to "protect investors" and thereby confiscates the mountain of metal. they did it in 1933.
I always miss the boob. It's like a 3d picture sometimes, you have to look just right.
"I am become debt, destroyer of worlds."
Frank Oppenheimer
The Hymn of the Soviet Union: Red Alert
YouTube - The Hymn of the Soviet Union: Red Alert & Red Alert 2
CRVIX dropped from 100 points (visitors) in 5 minutes...
YouTube - "Toking" with Lawrence Welk
666 Music Dedicated to Denninger:
Lawrence Welk
One Toke Over The Line
Basel Too writes:
NBA had to borrow $175M for 15 teams that presumably couldn't raise the money themselves.
Concessionaires have a pretty strong interest in keeping teams afloat and in the past have been happy to float loans in exchange for equity--if I'm remembering rightly the Royals (now Kings) were once largely owned by Sportservice or an affiliate.
I won't say anything about the rumored connections to organized crime because I'm already having to defend myself against Denninger's "authorities" and I don't want to have to worry about the mob coming by to kneecap me.
Gold a hair off of 960
...and every once in awhile you can catch a boob.
JD2B | 02.17.09 - 12:52 am | #
-----
Nice.
Also, it is rare when you could have made 1.0-1.5% in a single night on almost any currency in Europe. Now, my call is a stick save on Thursday or Friday because it's OPEX week!
I think this is what Deninger saw?
YouTube - It's A Wonderful Life bank run (full version)
CA Governor prepares to . . . get this . . . terminate 10,000 jobs. (Oh, I am witty!)
California lawmakers remain one vote short in budget negotiations - Los Angeles Times
The Latest from Denninger:
RED ALERT: FX Dislocation In Process - Updated (11:47 PM)
Aliens upping the stats here?:
BBC NEWS | Science & Environment | Alien life 'may exist among us'
rent-to-own, your criticism of the racist mindset is spot on. +1
Vlad | 02.17.09 - 12:55 am | #
You confused your Clintons. Ask Monica.
"otishertz writes:
i'm not a big gold bug but i do love a good financial conspiracy theory. it is hard to find more compelling conspiracies than in the precious metals markets.
so maybe the government some day nationalizes the pm ETFs to "protect investors" and thereby confiscates the mountain of metal. they did it in 1933.
otishertz | Homepage | 02.17.09 - 12:56 am |"
How about a complete and thorough of our nations gold reserves? One hasn't been don since 1974. Or is Obama too much of a pussy to do that?
The Latest from Denninger
CRbot | Homepage | 02.17.09 - 1:00 am | #
-----
There is more news! CRVIX 600, here we come!
so maybe the government some day nationalizes the pm ETFs to "protect investors"
otishertz | Homepage | 02.17.09 - 12:56 am | #
No, no. They would only do that to protect honest, hard-working Americans from those hoaders and speculators.
Rent to Own at 12:45.......I try not to get personal on this blog,but I do on others.But I have to say that I and I'm sure others were offened by the(trying to be sneaky) n comment and other jabs. I strongly support your comment and wish that the person would please refrain from making such remarks.
The Carpenters - The end of the world
YouTube -
false alarm
Alright this is enough. Denniger get us all worked up, the weeks of the Conjure clock we had to go through.
I want to be trading Little Debbie snack cakes for cigerettes by Friday or I am going postal!
Gold, however, continues its trek to 1000
I don't know, Denninger talking about 'pips' just sounds so civilized. Tea?
The entire Denninger update. Let the slings and arrows fly boyz!
11:47 PM - It appears that FX has settled down although the equity market damage in Asia remains significant in many areas, with South Korea (one potential flashpoint) being off close to 4%. Europe opens soon with spreadbetter info up around 12:15 CT most mornings; if we get through the euro open without the crosses going nuts again this may remain capped. Watch the Euro crosses in particular; if there is an "ignition" sort of event you won't miss it (a ~500 pip near-vertical move would not surprise, on top of the 150 pips we've already taken tonight.) Last update on this for this evening unless something pops up.
really? or would a lack of confidence in the etf cause a run on gold?
/cr/tard | 02.17.09 - 12:56 am | #
seems to me if there was a sharp loss in confidence in the ETFs they would be clearly be sold and this selling would have to be matched by actual selling of PM. that is if the ETFs are run as advertised.
I think gold may be the feelgood play of the year. I like 1300-1500 as targets in the coming winter.
Whats that little boy? You sure there was a wolf? Whats that you say? It was here a minute ago? Sure... You hang around and see if that big scary wolf comes back tonight.. No. No. I believe you...
Last night on earth
YouTube - U2 - PopMart (Live from Mexico City) - Last night on earth
I swear I saw a boob! Did you see it!? It was right there! oh man...
So if the Dow opens down like 150 and closes green, can we safely say Denninger has fully discredited himself?
Denniger isn't the only one:
Welcome To Jim Sinclair’s MineSet
An unwind is taking form right now, this minute, (9:10PM ET) that may or may not be contained by international Central Bank action.
Even if central Europe does not financially implode the world money system today, it is just around the corner.
There are so many risks threatening us now that survival of any monetary status quo is doubtful.
Protect yourself.
It has hit the fan, right now, and all that is thanks to OTC derivative manufacturers and distributors.
Respectfully yours,
Jim
There are two pips that Denninger is talking about:
I am still going to check under my bed tonight...
there's about 40 stories from today so far.
sqworl | The Daily Bail Financial News Round-Up Tuesday Feb. 17th
crazy news day.
otishertz ---
If there's a selloff of the GLD etf, aren't those shares then just owned by other investors? Are blocks of shares, once created, ever destroyed?
-Japan Revised Jan Machine Tool Orders Down 84.1% On Year
Yeesh, is that right???
CNN just reported GM gets another 5 billion dollar loan. Can you say black hole?
Rob Dawg - your n-comment above should point out to all your so-called supporters just how vile you are, and why so many others detest you. Screw you, and anybody who likes you.
I guess the nuclear explosion turned into a soggy firecracher ?
Re: Machine Tool Orders Down 84.1% On Year
Shit dude, how many more tools do we need?
I like to check the dollar, gold, and silver on Dollar Collapse. The dollar has gone vertical.
DollarCollapse - Your ringside seat for the global financial crisis
Just preprivatize GM and get it over with already.
Maybe Denninger shot the load early; this will no doubt hurt his credibility if so. What seems significant to me is that, a year ago, nobody would be giving him any attention for saying this, now (at least until now) people were. Someone shouting, 'There's a crack in the ice!' means more when we all think it's a little thin in the first place.
"Down 84.1% On Year"
looks like those stories about kondratieff winter aren't so tinfoil anymore
I can't wait to read GM's report on its path to prosperity.
"this will no doubt hurt his credibility"
Pleaze.... don't joke about that!
There's no need for personal attacks on other commenters. Just let it be.
Denninger cried wolf. Doesn't mean there aren't wolves roaming around the forest. Or boobs, if that is what you are searching for...
Oh, there's a need, all right.
Link to this 84.1% machine orders number? I'm checking the usual places (bloomberg) but don't see it.
Well, I guess Jim Sinclair won't be getting an interview with Maria B.
I feel like I got jipped on the apocalypse tonight. I wonder if this is how the fundies felt after four years in Iraq and still no rapture. Cubs fans I feel you.
Which was what he wanted, so thank you CR for feeding this retard a cookie!
Anonymous | 02.17.09 - 12:11 am | #
This was in the comments for one or 2 previous threads.
If there's a selloff of the GLD etf, aren't those shares then just owned by other investors? Are blocks of shares, once created, ever destroyed?
query_tool | 02.17.09 - 1:08 am | #
i'm not an expert at all, i'm an enthusiast, so please if anyone knows better please correct me but ETFs do not have a fixed float like stocks. if there were a fixed number of GLD and SLV shares you would see a larger premium over spot to account for the scarcity of the shares.
i don't know if they are ever destroyed, but i would like to know, because it woulld introduce a major new wrinkle to the ridlle.
There's more to this than Denninger's web site.
Rob Dawg - your n-comment above should point out to all your so-called supporters just how vile you are, and why so many others detest you. Screw you, and anybody who likes you.
Anonymous | 02.17.09 - 1:09 am | #
Ahhh yes . Johnathan Swift's observation about irony was indeed prescient.
Dow Jones newswire. Will post link to article once available.
@House
I'll take up that challenge. He may be out there, but he understands politics.
Anonymous writes:
Rob Dawg - your n-comment above should point out to all your so-called supporters just how vile you are, and why so many others detest you. Screw you, and anybody who likes you.
Vile, vile VILE! I threw up on my keyboard just now thinking about the villainous Rob Dawg, his VILE ways, and his SO CALLED supporters, probably all degenerates and psychopaths, rabidly posting words of praise in between self-pleasure sessions with Ayn Rand novels and massage adventures with unsuspecting YOUNG BOYS they have held captive in their offshore republican rape yachts. Rob Dawg makes me sick! I am throwing up right now just imagining these things in lewd detail, if you will excuse me I have just been inspired to write some fan fics.
Nobody else watching and waiting for stanford financial aka Bernie the 2nd to come to full fruition?
I kinda wish I got out of my UDN a couple of weeks ago.. Didn't think gold and dollars would both be up..
If money can be used as a weapon, someone is sure accumulating quite an arsenal Maybe it's Al-Queda, Faux news did warn me about this today.
OT (sorry) Former Citigroup chairman got $42m in Citigroup payout
Former Citigroup chairman got $42m in Citigroup payout
Michael Klein, a former vice-chairman of Citigroup who was one of the architects of Gordon Browns bailout of UK banks, secured a $42m (32.6m) payout from his Wall Street bank just months before it had to be bailed out by the US taxpayer, according to report in The Sunday Times, London.
South Korean treasury bond futures plunged on Tuesday as the won's sharp decline and uncertainty over the planned extra budget sparked massive sell-offs of government debt.
The South Korean won slumped to a new 10-week low against the dollar amid growing fears that the nation may face another dollar squeeze amid the global financial turmoil, although the country's vice finance minister dismissed such a possibility.
March treasury bond futures were down 78 ticks at 111.30 as of 0548 GMT.
Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor
Boom
HE SAID "N WORD" PEOPLE
And he did it in less than the gravest of contexts!
well i spouted off this morning about how i thought (guessed) that japan has a different attitude about work and alcohol than here in the us
sounds like i was just full of it
am hearing from daughter in japan, un confirmed runours that the foreign minister on the video with the slurred speech and the roubini hair doo was, or will be, "induced" to resign
un confirmed by my brief search of the news so far
P.S. Could y'all do me a favor and stop talking about each other? Thanks bunches
The page cannot be found
The Indian stock market tanked more than 300 points depressed by the lack of any real stimulus in the interim budget presented by Finance Minister Pranab Mukherjee Monday.
The benchmark Sensex lost 308 points to trade at 9326.75 points immediately after presentation of the interim budget.
"massive sell-offs of government debt. "
my hat is off to anyone with the nuts of steel to try to short developing world sovereign paper this week.
that's slightly ahead of the curve.
mock turtle, it's confirmed, heard on bloomberg, he's resigning
if you will excuse me I have just been inspired to write some fan fics.
lol, think I'll say g'nite on that one...
Screw you, and anybody who likes you.
Anonymous | 02.17.09 - 1:09 am | #
Anonymous | 02.17.09 - 1:09 am | #
i came out against cr companion calling it cr blinders but have to recant all that because life without Anonymous is better.
Denninger can be an early warning signal you just have to do your research here and elsewhere to find your own true reality or what you think is your reality. I'm not so sure any more.
Hoops, the allusion was enough; a sneaky attempt to interject race through semantics.
"...self-pleasure sessions with Ayn Rand novels and massage adventures ..."
Hoopajoops LTD | \t \t \tHomepage | \t02.17.09 - 1:15 am | #
CR - I heart you.