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#301 roxy

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Posted 28 September 2008 - 11:39 PM

http://www.reuters.c...E48R45R20080928

Wachovia pie.  C and WFC in bidding war for it supposedly.

So many pies.  Bear Sturds pie, Lehman cream pie, AIG custard pie, WaMoo pie, Merillberry pie, CountryFried pie-- can't keep track of all the pies being cut up and dished out to the lucky new MegaBanks.

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At one point they'll be giving banks for free

#302 roxy

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Posted 28 September 2008 - 11:41 PM

HERE IS A DUMB QUESTION.

Can the US ban shorting the $US?

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You are short dollars when you borrow dollars and buy something (anything) that is not positively correlated with dollars.

#303 roxy

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Posted 28 September 2008 - 11:45 PM

Al,

I don't know how long you have lived in OZ, but if want to see incompetence on a grand scale,just keep an eye on Canberra.

What you see in NSW will be visited upon all of OZ when the shit hits the fan.

I lived in Victoria during the bust in the 80s.

They were very,very tough times.

It will be much worse this time round.

1982 was the beginning of a 25 year bull market .

2008 is the beginning of a 15 year bear market??

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Secular bear market started in 2000, at least that's what David Rosenberg says.

#304 Brisbane Bear

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Posted 29 September 2008 - 12:00 AM

so when Buffet was short the $US to the tune of $1billion or when Soros was short the British Pound,were they actually short or were they borrowing $$$$ to buy stuff?

Are the currency markets too big to change the shorting rules.

Too global in nature.

I was surprised that the govt in OZ along with all the other countries could arbitrarily ban shorting just like that.

They seem to be able to make the rules as they go.

The worse the problems become the more outrageous the rule changes.

#305 Brisbane Bear

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Posted 29 September 2008 - 12:04 AM

The 'rescue package' relief rally didn't last long in OZ.

UP 50 POINTS TO DOWN 50 POINTS.

#306 lineup32

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Posted 29 September 2008 - 12:30 AM

When you start thinking of the broader issues, a lot of this is very troubling," said Joseph Battipaglia, chief investment officer at Ryan Beck & Co

"We have in front of us a recession in the general economy, the consumer is dramatically retrenching their habits by cutting spending, and our financial system has sputtered. This isn't necessarily a confidence builder because now everybody knows how precarious the financial system really is."

Reality is starting to seep into the MSM!!

http://news.yahoo.co...eltdown_markets

#307 shorty

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Posted 29 September 2008 - 12:52 AM

$700 Billion :blink: is one helluva chunk O' change

don't fade that sheet :mellow:

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#308 Brisbane Bear

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Posted 29 September 2008 - 01:02 AM

WE ARE DOWN 100 POINTS NOW.

I expect this is a shakeout to panic the last of the sheeple out of their longs.

They have been shredded in recent months.

I agree that $700 billion is a lot of money.

I wouldn't fade the pigmen in this environment especially when they keep changing the rules in the middle of the game... <_<

#309 MrHanky

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Posted 29 September 2008 - 01:11 AM

$700 Billion :blink: is one helluva chunk O' change

don't fade that sheet :mellow:

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IF it gets passed,it will be $250 bill to start....And would take weeks if not months before it really hits the tape I would guess.


I don't think we rally much from here no matter how much it is.But I sure as heck would not go short right now :blink:

Nothing


#310 Jimbo

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Posted 29 September 2008 - 05:07 AM

FICTITIOUS CAPITAL

As doc said easy credit created a mountain of fictitous capital which is now being removed by the magic of the market.

Government intervention is merely designed to slow this process down by throwing massive amounts of taxpayer funds to keep the balloon inflated.

To convert your fictiious gains to tangible ones you have to exit the system.

Which a lot of people did by HELOCING the money out and going on a gigantic Chinamart spending spree.

But most decided to double or nothing ... and are now getting nothing.
timoleon

#311 Peek Paper

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Posted 29 September 2008 - 05:43 AM

You are short dollars when you borrow dollars and buy something (anything) that is not positively correlated with dollars.

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buy gold with a credit card ...
The deeper you dig into a pile of dung, the worse it smells ...





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