T Nation

Stocks, Oil, Gold Tank

http://biz.yahoo.com/ap/081024/financial_meltdown.html

[i]Stock markets around the world plummeted Friday and oil prices plunged to their lowest in more than a year. Even gold, the traditional safe haven in times of panic, fell sharply.

The common denominator was growing fears that governments, central banks and finance ministers seem powerless to stop the deepening of a global recession that will slam corporate earnings and lead to deep job losses around the world…

Oil fell sharply and traded near $63 a barrel amid weakening global demand for crude – despite a decision by the OPEC cartel to cut production quotas by 1.5 million barrels a day from next month.

The dollar plunged below 93 yen, a 13-year low. Gold fell as low as $681 an ounce, its lowest since January last year. [/i]

Very interesting.

It appears cash is king.

[quote]Zap Branigan wrote:
It appears cash is king.[/quote]

Liquidity is king – and always has been.

[quote]Zap Branigan wrote:

[i]Stock markets around the world plummeted Friday and oil prices plunged to their lowest in more than a year. Even gold, the traditional safe haven in times of panic, fell sharply.

The common denominator was growing fears that governments, central banks and finance ministers seem powerless to stop the deepening of a global recession that will slam corporate earnings and lead to deep job losses around the world…

Oil fell sharply and traded near $63 a barrel amid weakening global demand for crude – despite a decision by the OPEC cartel to cut production quotas by 1.5 million barrels a day from next month.

The dollar plunged below 93 yen, a 13-year low. Gold fell as low as $681 an ounce, its lowest since January last year. [/i]

Very interesting.

It appears cash is king.[/quote]

The elite are pushing commodities as low as they can go so they can buy them on the cheap. You can’t even buy gold right now the demand is so high, yet the price drops? It’s artificial.

V

[quote]Zap Branigan wrote:
http://biz.yahoo.com/ap/081024/financial_meltdown.html

[i]Stock markets around the world plummeted Friday and oil prices plunged to their lowest in more than a year. Even gold, the traditional safe haven in times of panic, fell sharply.

The common denominator was growing fears that governments, central banks and finance ministers seem powerless to stop the deepening of a global recession that will slam corporate earnings and lead to deep job losses around the world…

Oil fell sharply and traded near $63 a barrel amid weakening global demand for crude – despite a decision by the OPEC cartel to cut production quotas by 1.5 million barrels a day from next month.

The dollar plunged below 93 yen, a 13-year low. Gold fell as low as $681 an ounce, its lowest since January last year. [/i]

Very interesting.

It appears cash is king.[/quote]

The dollar may be down against the yen, but the Euro is in a free fall.

I love how the fucking media can always find a way to spin the cost of oil in a bad way.

If the price is too high, we are headed for a recession. if it is too low, we are in a recession.

I hope the bottom falls out of the fucking gold market. I am sick of those “we will send you cash for your scrap gold” commercials.

I hope oil prices get so low that OPEC implodes.

Many stocks are already WAY over sold. There is long term value just about everywhere you look in the stock market.


No worries…

"When Warren Buffett bought General Re Insurance in 2002 he warned about notional valuations because he tried to sell some of the derivatives, and lost billions of dollars. He called derivatives �??weapons of mass financial destruction.�?? Everyone ignored him, and the derivative market increased 500% in five years.

TGR: Wow.

FH: If you make a 2% mistake in the $500 trillion derivative market, that’s $10 trillion. What’s $10 trillion? Well, the world’s total GDP is $50 trillion. The total amount of U. S. dollars in circulation is roughly $15 trillion. A 2% mistake wipes out 20% of the world’s GDP."

Part of: http://www.marketoracle.co.uk/Article6910.html