Momma told me there would be days like this
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Momma told me there would be days like this
by blackrabbit » Fri Nov 12, 2010 3:16 pm
So I have been watching kitco today an it seems like in addition to all metals take a serious dive, stocks are down, so is oil, and so is the dollar. Any enlightened folks, or crazy wingnuts have any ideas on what causes all these things to fall at the same time? I am more of a sociologist than an economist and am scratching my head.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered....The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
-Thomas Jefferson
-Thomas Jefferson
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Re: Momma told me there would be days like this
by MO-SILVER! » Fri Nov 12, 2010 3:29 pm
Apmex had an update in facebook talking about china raising interest rates to combat inflation and industry there slowing.. That's not verbatim but what I took away from it.
Formerly spartan_b88 on old forum.
"For what profit is it to a man if he gains the whole world, and loses his own soul?" Matthew 16:26
"For what profit is it to a man if he gains the whole world, and loses his own soul?" Matthew 16:26
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Re: Momma told me there would be days like this
by Beau » Fri Nov 12, 2010 4:37 pm
.
I say to Hell with China if we can`t make it we don`t need it.
Bring all our jobs back home, put people back to work.
I know about all the economics and I`am not worried about other countrys, so lets take care of our country and it`s people first.
.
I say to Hell with China if we can`t make it we don`t need it.
Bring all our jobs back home, put people back to work.
I know about all the economics and I`am not worried about other countrys, so lets take care of our country and it`s people first.
.
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Re: Momma told me there would be days like this
by Thogey » Fri Nov 12, 2010 5:17 pm
Beau wrote:.
I say to Hell with China if we can`t make it we don`t need it.
Bring all our jobs back home, put people back to work.
I know about all the economics and I`am not worried about other countrys, so lets take care of our country and it`s people first.
.
+1
If I have the gift of prophesy, and know all mysteries and all knowledge, and if I have all faith, so as to move mountains but do not have love I am nothing. And if I give all my possessions to feed the poor, and if I surrender my body to be burned but do not have love it profits me nothing.
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Re: Momma told me there would be days like this
by Country » Fri Nov 12, 2010 5:33 pm
It's a global world. Business must be provided serious incentives to create jobs in America, and serious dis-incentives to create jobs overseas. If nothing changes, business will seek out increasing cheaper job opportunties overseas. 
Humankind has not woven the web of life. We are but one thread within it. Whatever we do to the web, we do to ourselves. All things are bound together. All things connect. ~Chief Seattle, 1855
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Re: Momma told me there would be days like this
by Ardent Listener » Fri Nov 12, 2010 5:58 pm
Gold, Silver Drop as European Debt Concerns Mount, Driving Dollar Higher
By Sungwoo Park - Nov 12, 2010 3:22 AM ET Gold headed for the first weekly drop in three as concern that some European governments are struggling to finance themselves boosted the dollar. Speculation that China may tighten monetary policy triggered a broader commodity selloff that also hurt precious metals.
Immediate-delivery gold lost as much as 2.2 percent to $1,378.30 an ounce, and traded at $1,384.70 at 4:20 p.m. in Singapore. The metal touched an all-time high of $1,424.60 on Nov. 9. Cash silver slumped as much as 4.1 percent to $26.5800 an ounce, and spot platinum and palladium also dropped.
The ministers of Germany, France, Italy, Spain and the U.K. issued a statement in Seoul today during the Group of 20 summit that a new system to handle future debt crises in euro-region countries won’t apply to outstanding debt. The Dollar Index advanced for a sixth straight day.
“The dollar is really strong,” said Wallace Ng, executive director of commodities at ABN Amro Bank NV in Hong Kong. “That’s a good excuse for them to take profits.”
A majority of global investors predict that Ireland will default on its sovereign debt, according to a Bloomberg Global Poll. The ranks of those anticipating an Irish default have tripled since a survey in June.
The euro fell to a six-week low against the dollar amid concern that sovereign-debt issues will weigh on economic growth in Europe. Gross domestic product in the 16-nation euro area increased 0.5 percent in the third quarter, after expanding 1 percent in the previous period, according to a Bloomberg survey before a European Union report today.
‘Negative Factors’
“Market attention is switching back to negative factors for the euro,” said Naoto Minatogawa, a currency analyst at Himawari Securities Inc. in Tokyo. Gold usually moves counter to the U.S. currency.
Speculation that China may step up measures to curb inflation spurred “some selling” in commodities, said ABN Amro’s Ng. Consumer prices in China jumped 4.4 percent in October, the fastest pace in two years, the statistics bureau said yesterday. Copper, zinc, cotton and soybeans dropped.
“There’s talk of an interest-rate hike over the weekend,” said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co., which oversees $285 million. “It’s quite possible given how inflation has accelerated.”
The People’s Bank of China boosted its benchmark one-year lending rate on Oct. 19 by a quarter of a percentage point to 5.56 percent, the first increase since 2007. The central bank may raise interest rates within weeks, according to a Bloomberg News survey of economists.
Bullion has gained 26 percent this year, set for a 10th annual gain, on bets the Federal Reserve’s plan to buy back more bonds will erode the value of the dollar. December-delivery futures fell as much as 1.9 percent to $1,377.30 an ounce.
Platinum for immediate delivery retreated as much as 3 percent to $1,703.50 an ounce, and traded at $1,708 an ounce. Spot palladium fell as much as 5 percent to $677 an ounce.
To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
By Sungwoo Park - Nov 12, 2010 3:22 AM ET Gold headed for the first weekly drop in three as concern that some European governments are struggling to finance themselves boosted the dollar. Speculation that China may tighten monetary policy triggered a broader commodity selloff that also hurt precious metals.
Immediate-delivery gold lost as much as 2.2 percent to $1,378.30 an ounce, and traded at $1,384.70 at 4:20 p.m. in Singapore. The metal touched an all-time high of $1,424.60 on Nov. 9. Cash silver slumped as much as 4.1 percent to $26.5800 an ounce, and spot platinum and palladium also dropped.
The ministers of Germany, France, Italy, Spain and the U.K. issued a statement in Seoul today during the Group of 20 summit that a new system to handle future debt crises in euro-region countries won’t apply to outstanding debt. The Dollar Index advanced for a sixth straight day.
“The dollar is really strong,” said Wallace Ng, executive director of commodities at ABN Amro Bank NV in Hong Kong. “That’s a good excuse for them to take profits.”
A majority of global investors predict that Ireland will default on its sovereign debt, according to a Bloomberg Global Poll. The ranks of those anticipating an Irish default have tripled since a survey in June.
The euro fell to a six-week low against the dollar amid concern that sovereign-debt issues will weigh on economic growth in Europe. Gross domestic product in the 16-nation euro area increased 0.5 percent in the third quarter, after expanding 1 percent in the previous period, according to a Bloomberg survey before a European Union report today.
‘Negative Factors’
“Market attention is switching back to negative factors for the euro,” said Naoto Minatogawa, a currency analyst at Himawari Securities Inc. in Tokyo. Gold usually moves counter to the U.S. currency.
Speculation that China may step up measures to curb inflation spurred “some selling” in commodities, said ABN Amro’s Ng. Consumer prices in China jumped 4.4 percent in October, the fastest pace in two years, the statistics bureau said yesterday. Copper, zinc, cotton and soybeans dropped.
“There’s talk of an interest-rate hike over the weekend,” said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co., which oversees $285 million. “It’s quite possible given how inflation has accelerated.”
The People’s Bank of China boosted its benchmark one-year lending rate on Oct. 19 by a quarter of a percentage point to 5.56 percent, the first increase since 2007. The central bank may raise interest rates within weeks, according to a Bloomberg News survey of economists.
Bullion has gained 26 percent this year, set for a 10th annual gain, on bets the Federal Reserve’s plan to buy back more bonds will erode the value of the dollar. December-delivery futures fell as much as 1.9 percent to $1,377.30 an ounce.
Platinum for immediate delivery retreated as much as 3 percent to $1,703.50 an ounce, and traded at $1,708 an ounce. Spot palladium fell as much as 5 percent to $677 an ounce.
To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
All posts by the person known here as Ardent Listener are for your edification and amusement only and are not intended to provide investment, medical, legal, tax advice or any other advice or counsel and nothing posted here should be considered to be so.
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Re: Momma told me there would be days like this
by Sheikh_yer_Bu'Tay » Fri Nov 12, 2010 8:41 pm
blackrabbit wrote:So I have been watching kitco today an it seems like in addition to all metals take a serious dive, stocks are down, so is oil, and so is the dollar. Any enlightened folks, or crazy wingnuts have any ideas on what causes all these things to fall at the same time? I am more of a sociologist than an economist and am scratching my head.
I think there would be a whole lot of sociology in the study of why people drive the markets the way they do. Kinda like the old story of watching Lemmings follow each other as the first one races off a cliff. In the 70's they called it "Group-Think", didn't they?
When I die, I want to go like Grandpa did. He died in his sleep..... Not screaming and hollering like all the passengers in his car.
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Re: Momma told me there would be days like this
by Devil Soundwave » Fri Nov 12, 2010 8:52 pm
Off topic I know, but FYI, the cliff thing with relation to Lemmings is actually a myth. The only documented footage of that happening was in, of all things, a Disney nature film where they actually deliberatly scared/drove the poor wee buggers off the cliff!
Scotsman in residence...
The bankers rubbed their palms together, and the economy went up in flames.
"If the government is big enough to give you everything you want, it is big enough to take away everything you have." Gerald Ford.
The bankers rubbed their palms together, and the economy went up in flames.
"If the government is big enough to give you everything you want, it is big enough to take away everything you have." Gerald Ford.
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Re: Momma told me there would be days like this
by Sheikh_yer_Bu'Tay » Fri Nov 12, 2010 8:56 pm
Devil Soundwave wrote:Off topic I know, but FYI, the cliff thing with relation to Lemmings is actually a myth. The only documented footage of that happening was in, of all things, a Disney nature film where they actually deliberatly scared/drove the poor wee buggers off the cliff!
Damn Disney fascists!
I remember watching that film as a little kid!When I die, I want to go like Grandpa did. He died in his sleep..... Not screaming and hollering like all the passengers in his car.
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Re: Momma told me there would be days like this
by Devil Soundwave » Fri Nov 12, 2010 9:00 pm
lol - yeah, just double checked on wiki - White Wilderness, 1958. Apparently they used a turntable device to fling them off the cliff! 
Scotsman in residence...
The bankers rubbed their palms together, and the economy went up in flames.
"If the government is big enough to give you everything you want, it is big enough to take away everything you have." Gerald Ford.
The bankers rubbed their palms together, and the economy went up in flames.
"If the government is big enough to give you everything you want, it is big enough to take away everything you have." Gerald Ford.
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Devil Soundwave - Penny Hoarding Member
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Re: Momma told me there would be days like this
by Sheikh_yer_Bu'Tay » Fri Nov 12, 2010 9:14 pm
Devil Soundwave wrote:lol - yeah, just double checked on wiki - White Wilderness, 1958. Apparently they used a turntable device to fling them off the cliff!
LOL! Oh, Gawd! This just gets more funny as you go! The poor little Lemmings being flung off a turntable?! Where is PETA when you need them!
When I die, I want to go like Grandpa did. He died in his sleep..... Not screaming and hollering like all the passengers in his car.
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Re: Momma told me there would be days like this
by billo » Fri Nov 12, 2010 10:12 pm
US manufacturing = lower taxes + fewer regulations. Need some regs but we have too many.
Nickel and (silver) dime me.
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Re: Momma told me there would be days like this
by blackrabbit » Fri Nov 12, 2010 10:23 pm
Lemmings falling like the price of metals today! 
Thanks for the info and humor. This realcent virtual/mail correspondence community is a is really cool. A lot of different views and an incredible amount of knowledge to access here here so hopefully we won't succumb to group-think or be hurled off cliffs in mass by fascists! 
Thanks for the info and humor. This realcent virtual/mail correspondence community is a is really cool. A lot of different views and an incredible amount of knowledge to access here here so hopefully we won't succumb to group-think or be hurled off cliffs in mass by fascists! "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered....The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
-Thomas Jefferson
-Thomas Jefferson
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blackrabbit - Post Hoarder
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Re: Momma told me there would be days like this
by aristobolus » Sat Nov 13, 2010 12:52 am
Its all Jim Cramer's fault! He jinxed us by recommended buying gold!
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