Friday, May 7, 2010

financial markets? paper game casino! (DJIA -9% within few minutes!)

just 3 monkeys? LOL (source: jessescrossroadscafe.blogspot.com)

its just crazy, isnt it? DJIA -9% intraday, than closed at -3% and gold is up like crazy  ... hmmm, is the end of the financial ponzi scheme of paper currencies coming closer and closer and closer to its end? well, we will see it soon 

the prices of wheat, corn, oil, gas, etc are falling down like if there were no need 4 food + commodities 2morrow => ???

... just gold is up ... hell, if there would be more money on my margin account i would go much much more LONG COMMODITIES ... well, the current financial markets are IMHO to a degree of 90% just a paper casino without any relation 2 real value out there ... just imagine, one of the biggest companies on earth, procter & gamble (its all abt GAMBLING, u see?) with current market capitalization of $176,45 billion was down 40% intraday [folks, thats more than 72 billion usd!] due 2 one citibank's trader's error ~ he prolly inserted sell 16b instead of 16m ~ it was a selling of billions instead of millions ~ btw, that guy will become famous soon ... still remember the at that time 28 years old nick leeson who has broken the 100+ years old english barings bank (UK's oldest investment bank) few years ago? and what abt jérôme kerviel (societe generale) or abt the LTCM or amaranth defaults? well, procter & gamble closed later without any major change as the 4th best stock in DJIA at -2.27% (the best stock today was down -1.6%)

hell, we are freaking doomed! lets dump paper money ASAP and lets install a relationship between money and real value again!! welcome, gold & silver backed currency ...

as always,
just my 2 golden cents 

btw, got enough gold + silver already?

folks, there was such a great discussion on the InformedTrades website abt this topic, pls feel free 2 read the comments or even better participate there :-)
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