Global Markets in Crisis

gringoloid says on Oct 10, 2008, 09:38:

no......who would have thought that?

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tasco66 says on Oct 10, 2008, 09:50:

good, now that all the buy high sell low idiots have sold and are throwing the towel, I will start buying some stocks

Not being bound to swear to the dogmas of any master

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LDW says on Oct 10, 2008, 09:53:

Watch out for a possible freeze on credit cards. Consumer spending would implode.

Everything is going down now.

Bonds, which went up last week in response to the decline in stocks, are falling.

Farm commodity prices are falling.

Even gold is falling.

Cash, for the time being at least, is king.

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gringoloid says on Oct 10, 2008, 10:02:

well you know i 've been in cash and liquid instruments for a couple of years almost but i'm really upset with the price of gold. the top 5 investment banks gone.....fan, fred, gone or certainly not the same.....insurance companies going off the deep end today.......i hear 1929, global financial collapse, great depression etc., about 15 times a day, even in the dupe news.......and gold stays the same. no way....................i expected at this point for gold to be at least $1500-2000 an ounce.

i see today england has run out of gold coins.........the u.s. mint ran out of gold coins a long time ago......there are black markets forming where businesses will pay you more than the spot price for gold and silver........ www. kitco.com

gold will rise again but not during the credit crunch as i expected......but during the coming currency crisis. instead of two whacks, i think i'll only get one in the coming months.

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Tinto (Moderator) says on Oct 10, 2008, 10:50:

If next week is anything like the week about to end, I don't see how Morgan Stanley and Goldman Sachs can survive without even more bailout money. They're getting hammered the last two days.

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gringoloid says on Oct 10, 2008, 18:16:

tinto, you're going to be buying things with ameros in a couple of years.

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podborski says on Oct 11, 2008, 08:21:

you know things are bad when argentina looks good in comparison to the ROTW : )

I'm starting to look for some stocks to buy, but it would be more a short term play, I'd sell in a week if there was a 15% bounce.

I think this has a Loooong way to play out.

Loid I am also unsure why gold is not a lot higher...my guess is it will eventually break out, but who knows when.

I'm feeling damn lucky having the Cdn$ drop 25%, one of these days I'll repatriate some funds and that helps a lot. Trying to find an easy way to hedge my CDN exposure, best I have found so far is options but seems bloody expensive to me.

Anyone have better ideas?

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