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Here Is Why The Tadawul May Soon Pull An "Egypt Stock Market", And Close Indefinitely

Tyler Durden's picture


The first from a major bond trading desk:

Reports are circulating that there has been massive buying of Treasuries out of the Middle East this morning following the NFP report. The buying has been across the curve, with large concentrations in the 2-5yr sectors. Now that's a safe haven trade from the countries causing the stress in the first place.

And for those wondering why the Tadawul may do a reverse EGPT, and not open for a while...

We have confirmed reports of massive amount of money moving out of the country, most likely to Abu Dhabi resulting in a huge sellout in the stock market which saw a major decline in the past few days.

As for the dollar: it is a sad, sad sight what the dollar has become. Thank you Chairsatan!


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Fri, 03/04/2011 - 11:21 | 1018531 LongSoupLine
LongSoupLine's picture

It's on...bitchez!


Fri, 03/04/2011 - 11:26 | 1018559 Arthor Bearing
Arthor Bearing's picture

Equities tumble, PMs rumble, it's OONNNNNN BITCHEZ

Fri, 03/04/2011 - 11:40 | 1018633 Haywood Jablowme
Haywood Jablowme's picture



Fri, 03/04/2011 - 11:40 | 1018641 Cash_is_Trash
Cash_is_Trash's picture

In the red corner, a paltry underweight tarnished and raped USD, stabbed mulitple times by POMO, TARP, TALF, GSE's and gov't incompetence stands the mighty DOLLAR.

In the blue corner, breaking high after high with gleaming antibiotic properties and high demand in industrial and precious applications stands SILVER.

Now touch gloves and fight!

Fri, 03/04/2011 - 11:45 | 1018660 LowProfile
LowProfile's picture

Head's up, this could lead to short term dollar strength & PM weakness.  Keep your eye on the big picture (unless you're a Jack be nimble trader with balls of steel).

Fri, 03/04/2011 - 11:58 | 1018743 A Man without Q...
A Man without Qualities's picture

Without the support of the House of ibn Saud, the US Dollar is screwed....

Fri, 03/04/2011 - 11:23 | 1018532 Cognitive Dissonance
Cognitive Dissonance's picture

Ben Bernanke: "Nothing that another helicopter drop can't fix."

Fri, 03/04/2011 - 11:24 | 1018551 snowball777
snowball777's picture

The recovery will come in the form of helicopter manufacturing gigs.

Fri, 03/04/2011 - 11:29 | 1018579 InconvenientCou...
InconvenientCounterParty's picture

A zephyr can easily whip the linen into the tail rotor. Make sure the helicopter is in the upright position before you bail.. k Ben?

Fri, 03/04/2011 - 11:54 | 1018727 rosiescenario
rosiescenario's picture

...that was back is now B-52 Ben....faster transit time to NYC from D.C. and 50X the payload....I can picture Slim Pickens riding a pallet load of $$$$ ....

Fri, 03/04/2011 - 20:00 | 1020931 citta vritti
citta vritti's picture

+3 Peter Sellers

Fri, 03/04/2011 - 13:11 | 1019154 Cognitive Dissonance
Cognitive Dissonance's picture

Ouch. I hope they had GEICO.

Now we know why Boeing got the "tanker" contract. The problem is that the first "tankers" won't be built in time to do much good even when they finally begin wholesale currency drops. Waiting until 2015 for the first one is too little too late.

I like the B-52 comment above. We have plenty of those in stock.

Fri, 03/04/2011 - 11:22 | 1018534 WALLST8MY8BALL
WALLST8MY8BALL's picture


Fri, 03/04/2011 - 11:22 | 1018536 apberusdisvet
apberusdisvet's picture

At 75, it's over.

Fri, 03/04/2011 - 11:24 | 1018549 cossack55
cossack55's picture


Fri, 03/04/2011 - 12:07 | 1018794 Max Hunter
Max Hunter's picture

Long term trend line is around 76.2 ish.. If I remember correctly.. Break that, and follow through could be bloody..

Fri, 03/04/2011 - 11:25 | 1018550 tmosley
tmosley's picture

I believe the 2008 low was around 72.  Once we penetrate that, all bets are off.

Fri, 03/04/2011 - 11:30 | 1018576 equity_momo
equity_momo's picture

Break 72 coupled with inc expectations of more and more debt monetization and yup : capitulation bitchez.

Things have a habit of collapsing when least expected (not saying anyone here doesnt expect it , but all systems are weakened to the point of a catastrophic failure and then BOOM)

Hedge accordingly.

Fri, 03/04/2011 - 11:34 | 1018613 Agent P
Agent P's picture

Does not having any money count as being fully hedged?  If so, I'd like to take this opportunity to thank my wife...

Fri, 03/04/2011 - 11:40 | 1018640 fredquimby
fredquimby's picture

++ :)

Fri, 03/04/2011 - 14:10 | 1019436 Bananamerican
Bananamerican's picture


Sun, 03/06/2011 - 08:34 | 1023281 jeff montanye
jeff montanye's picture

"she's no lady, she's my wife"

Fri, 03/04/2011 - 11:43 | 1018650 Oh regional Indian
Oh regional Indian's picture

That was hilarious Agent P. Your hedge is clearly trimmed.


Fri, 03/04/2011 - 12:29 | 1018939 mbeebe
mbeebe's picture

Best reply EVER!

Fri, 03/04/2011 - 12:42 | 1018991 johny2
johny2's picture


Fri, 03/04/2011 - 13:07 | 1019146 billhilly
billhilly's picture

could be worse, you could have said "my EX-wife"... but, then again?!

Fri, 03/04/2011 - 11:40 | 1018625 alien-IQ
alien-IQ's picture

actually...70.69 in March 2008. A break below 70 and we are in no mans land...without a net...


74.15 looks like a crucial multi year support. once that gets breached the decline could be quite sudden.

Fri, 03/04/2011 - 11:45 | 1018657 SilverRhino
SilverRhino's picture

At 69 plus QE-Indefinite ... yeah I'll agree that it's over.

Fri, 03/04/2011 - 11:25 | 1018544 snowball777
snowball777's picture

How long until we can close that disgrace in NY?

Fri, 03/04/2011 - 11:36 | 1018623 PY-129-20
Fri, 03/04/2011 - 11:41 | 1018643 Oh regional Indian
Oh regional Indian's picture

Someone is going to take a big bite out of NY. Literally and figuratively.

The whole Apple, Big Apple, Biblical Apple trio and their obvious inter-relation tot he present time blows my mind.

So how about... when the UN/IMF show their true colours.

Lucis Publishing, FTW.



Fri, 03/04/2011 - 11:25 | 1018547 pendragon
pendragon's picture

in the competition stakes for the worlds worst investors only the japanese are probably worse than the arabs

Fri, 03/04/2011 - 12:47 | 1019024 Josh Randall
Josh Randall's picture

Are you tellling me that Hawaiian real estate hasnt apreciated 1000% since 1979 ? C'mon who you foolin'...

Fri, 03/04/2011 - 11:25 | 1018548 TruthInSunshine
TruthInSunshine's picture

Don't forget Nobel Laureate Economist Timothy Geithner's sage wisdom on China and currencies and inflation:

US Treasury's  Geithner says if China does not move on revaluing its currency, it faces much higher inflation
Fri, 03/04/2011 - 11:40 | 1018637 Bastiat
Bastiat's picture

This is why encouraging their people to buy PMs is so brilliant.  They were a little slow but it was the right move.

Sun, 03/06/2011 - 08:44 | 1023287 jeff montanye
jeff montanye's picture

let's not pad his resume; it is interesting enough: he may speak chinese, have employed obama's mama, has worked for kissinger, the council on foreign relations and the imf, and he doesn't pay his taxes.  

Fri, 03/04/2011 - 11:27 | 1018565 scatterbrains
scatterbrains's picture

btw what happens to options contracts once the NYSE closes down for a few months ?


Fri, 03/04/2011 - 11:44 | 1018655 TruthInSunshine
TruthInSunshine's picture

If you are Goldman or JPM, Bernanke covers your premiums 100% on the dollar, and throws in a 110% 'assumed profit.'

If you're not a FOB ('friend of Ben'), lights out.

Sun, 03/06/2011 - 08:47 | 1023288 jeff montanye
jeff montanye's picture

yes, in a nutshell, that's about it.  and, somehow, it doesn't seem fair.

Fri, 03/04/2011 - 11:28 | 1018567 OMG
OMG's picture

The Bernank is masturbating with glee Iran can't be too far off

Fri, 03/04/2011 - 11:28 | 1018571 assumptionblindness
assumptionblindness's picture

OK Chairsatan, you have got 15 minutes to do something about this!

Fri, 03/04/2011 - 11:29 | 1018575 gwar5
gwar5's picture

After seeing what happened to the rest of the ME I can imagine the Saudis are getting their boodle out ahead of the riots. I bet they took note which foreign banks froze accounts too.

Fri, 03/04/2011 - 11:32 | 1018589 AnAnonymous
AnAnonymous's picture

Muslim brotherhood...

Fri, 03/04/2011 - 11:29 | 1018580 Spalding_Smailes
Spalding_Smailes's picture

Dollar was at the same levels in ....

78-80 & 90 & 92 & 95 & 08 -09 ...... But this time it's different.

Fri, 03/04/2011 - 11:33 | 1018603 SDRII
SDRII's picture

dollar vs. what?

Fri, 03/04/2011 - 11:33 | 1018605 Fred Fernakie
Fred Fernakie's picture

STFU and buy teh silverz

Fri, 03/04/2011 - 14:14 | 1019460 Bananamerican
Bananamerican's picture

2 hard 2 find moar

Fri, 03/04/2011 - 11:35 | 1018606 Id fight Gandhi
Id fight Gandhi's picture

Your point? Economy was in the shitter each time during those years.

Fri, 03/04/2011 - 11:36 | 1018622 Spalding_Smailes
Spalding_Smailes's picture

And things got better, just like they are today.

Fri, 03/04/2011 - 11:48 | 1018688 akak
akak's picture

Better for the sociopathic financial and political elite, indeed.

Fri, 03/04/2011 - 11:50 | 1018703 tickhound
tickhound's picture

"book it" still in my top 5 contrarion indications... Solid contrary call you made with the buy bac @ $15 sell gold at @ $1355.  I booked it.  Thanks.

Fri, 03/04/2011 - 12:04 | 1018792 Spalding_Smailes
Spalding_Smailes's picture

I said sell before it blew through 1,400 the first time. Then we had a 10-14% correction. Miners • ETF's blasted. Silver Wheaton dropped 25%, I wonder how many traders bailed out or got stopped out at a loss.


BAC I purchased at 12.50.

Did you buy Exxon at 59 on my call or RIMM at 44 or US Steel at 44 ???

Fri, 03/04/2011 - 12:07 | 1018803 akak
akak's picture

Blow it out your ass, troll.

NOBODY here is buying your BS for a second.

Fri, 03/04/2011 - 12:16 | 1018852 Spalding_Smailes
Spalding_Smailes's picture

Hundreds • Thousands of ZHers have seen my calls on US Steel, RIMM, ARMH, NVDA, XOM, JOBS, MPEL, GLUU ect... All 20-30% runners.

Fri, 03/04/2011 - 12:19 | 1018870 akak
akak's picture

... Inflation is deceitful and ineffective. It swindles savers, fleeces lenders, pumps taxes higher and triggers malinvestment. It doesn’t reduce unemployment; it whittles away your wage. Nor does inflation promote exports, but it does make international trade more frightening.

If inflation succeeded, it would be merely dishonest. But as history proves, it never works. Neither Bush, nor Obama’s weak dollar policies did anything to alleviate the overblown “trade deficit” and much to undermine growth. There is no evidence that inflation fosters exports or employment.

As Washington plunders the value of our property and expropriates the product of our labor, inflation reduces us to servitude. Debasement is a despicable ploy the government uses to rob you blind. Period.

"You Call It Inflation, I call It Theft"

Fri, 03/04/2011 - 12:24 | 1018896 tickhound
tickhound's picture

Massage the call all you want.  Its all timing regardless.  However, you made that specific "long term" call to me, predicting bac outperformance when gold was testing $1350ish support.  We were supposed to "look out below". More banking consolidation could prove you right, when measuring a $14 government supported stock vs. a $1400 piece of metal.  But so far, it is what it is.

And the blind squirrel buy exxon call wasn't needed... Bought CVX at 72, SLW at 17.

Fri, 03/04/2011 - 12:32 | 1018944 Spalding_Smailes
Spalding_Smailes's picture

When QE stops, mid east finds an solid floor. gold • silver are getting blasted.


Why has gold stayed under 1,430 for so long with all the new issues ? The mid east was not exploding yet on the first run ? Gold should be at $ 2000, no ?

Fri, 03/04/2011 - 12:39 | 1018959 akak
akak's picture

Yes, of course, gold and silver were not in a steady 10-year rising pattern before the latest Middle Eastern upheavals. 

Seriously, what flavor of retarded are you exactly?

Fri, 03/04/2011 - 12:55 | 1019013 Spalding_Smailes
Spalding_Smailes's picture


1960 - 1975 • $3.00 - $4.00

1975 - 1980 • $5.00 ( then the traders • hunt's ) - $40 plus. Then it started dropping, again.

1990 - 2006 • $ 5.00

Now ............. Another bubble.


Pin • Drop ..... the charts • facts don't lie. 40 years of truth.

Fri, 03/04/2011 - 12:56 | 1019076 akak
akak's picture

The only bubble today is in your precious, savings-robbing fiat currency and the unsustainable governmental debt behind it.  You malevolent fiat-lovers NEVER will admit or acknowledge the vast crime your always-inflationary Ponzi-money is on the vast majority of the population who are FORCED at gunpoint to use it.

If silver is in a "bubble", then so is oil, and wheat, and corn, and cotton, and cocoa, and sugar, and lumber, and rice, and soybeans, and rubber, and nickel, and copper, and lead, and platinum, and palladium, and .....  so, so many bubbles. 

Just who or what is causing all these bubbles?  Could his initials be "BB"?

Fri, 03/04/2011 - 12:57 | 1019084 tmosley
tmosley's picture

How much debt did the US have in 1975 or 1980, genius?

Facts don't lie, but you do, like when you listed a bunch of times that the USDX has been as low as it is now, but the only time it was ever this low was in 2008.

Go deliver your fucking shinebox.

Fri, 03/04/2011 - 13:07 | 1019133 Spalding_Smailes
Spalding_Smailes's picture

Just did another website also for $2,000. Cha' ching ...


What was the debt in in the US in 2004 as silver hit $5.00 .... What was the derivative debts in the shadow banking complex ? Did people know about this massive debt.

Fri, 03/04/2011 - 13:19 | 1019192 akak
akak's picture

And Balding_Snails performs his famous two-step sidestep once again!

Fri, 03/04/2011 - 13:30 | 1019247 tmosley
tmosley's picture

Next you'll be telling us that you got TWELVE MILLION DOLLARS from Prince N'guptathu of Nigeria in exchange for allowing him to use your bank account.

Face it, your world is falling apart.  There is nothing you can do about it so long as you continue to shoot heroine into your balls and deny reality.

Sun, 03/06/2011 - 09:05 | 1023299 jeff montanye
jeff montanye's picture

my favorite heroines:  penny from sky king, jane addams, shari lewis, elizabeth I, little red from "hoodwinked", aung sang suu kyi, eleanor of aquitane, maisie dobbs .... 

Fri, 03/04/2011 - 12:39 | 1018985 tickhound
tickhound's picture

When qe stops, s&p getting blasted.  Not sure the metals, which seem intent to break "dollar" correlation, will react as in '08. 

Why is gold still under $600? $700? $800?  etc. and so on at nausea.

With qe and all the "global powerhouse" issues... Dow Jones could be $36,000, no?  So should I not buy it at $12,000, eh? 

Fri, 03/04/2011 - 12:44 | 1019002 akak
akak's picture

Agreed.  This Smailes troll's anti-gold & silver arguments are as weak and pathetic as those of Jon Nadler.

And anyone expecting a repeat of late 2008 is just another general preparing to fight the last war.

Fri, 03/04/2011 - 12:52 | 1019056 Spalding_Smailes
Spalding_Smailes's picture

But , but , but Turd and All the gold • silver bugs have been saying for the last year.


QE would never stop - 3,4,5,6. It was impossible for them to allow an interest rate rise, totally impossible.


But now Buffett and the most the fed governors are saying its not needed. Like I said, look at the earnings report for most of the businesses in the USA. They are booming.


What happened to QE to infinity ? What about the rate rise taking down the banking system ?

Fri, 03/04/2011 - 12:56 | 1019082 tickhound
tickhound's picture

And what happened to China rate hikes burying the metals trade?  Another "book it" fail, as I recall.

QE1 wasn't needed post bailout, remember?  QE1 only became QE1 after the need for QE2 and QE lite, remember?  Fed governors test the waters constantly, I know you realize this.  What would happen to the markets if Fed governors came out and said we "need" further QE... while the economy was supposed to be self-sustaining for over 2 years now.

Fri, 03/04/2011 - 13:01 | 1019100 akak
akak's picture

Like I said, look at the earnings report for most of the businesses in the USA. They are booming.

More disingenuous bullshit.  Those NOMINAL earnings are only being boosted by the  ongoing and accelerating depreciation of the shrinking yardstick you are choosing to measure them with, the US dollar.

Fri, 03/04/2011 - 13:15 | 1019168 Spalding_Smailes
Spalding_Smailes's picture

So they are selling product around the globe against gold / silver or trading with other depreciating fiat ?


In global trade, dollars not falling that much .... Businesses = Booming sales.


How many people in the USA own gold • silver ? How many people pay bills , buy food , gas ,houses , pay for soccer lessons in gold ?


What's the percentage of ones wealth they have in gold because they must use fiat to pay bills/ On a global scale, everyone. People in China, USA, West Africa, Brazil ect ...

Fri, 03/04/2011 - 13:23 | 1019204 tickhound
tickhound's picture

"How many people in the USA own gold silver?"

Not many, and that's just the way I like it.  Once they do, I'll be out. 

How many people in the USA adhere to your extraordinary popular delusion and mainstream crowd madness?.......... Most of 'em.

"If NOT running with THAT crowd is wrong?  Then I don't want to be right."

Fri, 03/04/2011 - 13:24 | 1019214 akak
akak's picture

It would be more productive, and less time-consuming, to just beat one's head against a wall than to try to converse logically or rationally with you.  I truly am coming to believe that you are either autistic, or outright retarded.

The point that you will NEVER acknowledge is the ongoing, inherent, and accelerating depreciation of the dollar, and of all equally corrupt and Ponzi-esque fiat currencies.  I don't give a fucking damn if you compare the dollar against another falling, and failing, fiat currency --- the ONLY thing that really matters is the measure of the dollar's purchasing power against REAL goods, and on that measure it is obviously falling.  To ever talk about a "rising" fiat currency is an absurdity --- such a thing has never been witnessed in the long and sordid history of government-enforced fiat currency.

Fri, 03/04/2011 - 23:14 | 1021308 RockyRacoon
RockyRacoon's picture

You put up a valiant effort, my friend.   But as with any dogma, there is no refutation using logic or truth.   Let's all retire to the gold room and count our blessings.

Sat, 03/05/2011 - 03:45 | 1021614 akak
akak's picture

Indeed, my masked garbage can-raiding friend.

Besides, success is always the best revenge.

Fri, 03/04/2011 - 13:00 | 1019102 tmosley
tmosley's picture

When did QE end?

Again, unplug your computer BEFORE taking hallucinogens.

If you are claiming that it is GOING to end, give us a date.  If QE isn't over by that date, you concede that you were wrong, and GET THE FUCK OUT.

On a side note, to be fair, if physical silver ever goes below $25, I will do the same.

Fri, 03/04/2011 - 13:08 | 1019148 Spalding_Smailes
Spalding_Smailes's picture




Fri, 03/04/2011 - 13:30 | 1019254 tmosley
tmosley's picture

As I thought.  Spineless.

Fri, 03/04/2011 - 17:54 | 1020527 ColonelCooper
ColonelCooper's picture

You are rapidly losing your grip on the objectivity that helped you to have an excellent, basically unjunked, civil dialogue on a Chinese Bubble yesterday. 

Today you are bashing the Turd (??), for predicting QE infinity, by quoting talking heads who claim it is working and might be able to be ended?  It hasn't stopped yet.  (You're wrong until you're right.  Or at least you're opinion is no more valid.) Talking heads will always talk, and closed mouths never swallow flies.

Acknowledge possibilities.  Play some chess.  QE won't end until real money floods back into the dollar.  As long as we are having to buy 70+% of our debt, ignoring the QE Infinity argument is like denying that it might be cloudy tomorrow.  There's a pretty good effing chance.


Fri, 03/04/2011 - 14:43 | 1019631 The They
The They's picture

wait... QE stops?

Fri, 03/04/2011 - 20:51 | 1021071 Millivanilli
Millivanilli's picture


Fri, 03/04/2011 - 13:30 | 1019258 DoChenRollingBearing
DoChenRollingBearing's picture

Ah, Spalding is a trader.  Traders often have a different view on gold than those of us who just want to buy gold and just store the wealth.

Not necessary to call him a troll for trading...  Maybe he's good at it.

Fri, 03/04/2011 - 13:40 | 1019298 akak
akak's picture

Not necessary to call him a troll for trading...  Maybe he's good at it.

Yes, at malicious and disingenuous, untruthful trolling, he excels.

My well-deserved animosity toward him has nothing to do with he being a trader (if in fact he is), and everything to do with his willful and I would say deceitful propagation of misinformation and disinformation regarding the economy, gold, and the upcoming fall of the US dollar and the fiat empire of lies and institutionalized theivery.

Fri, 03/04/2011 - 11:38 | 1018618 akak
akak's picture

Dollar was at the same levels in ....

78-80 & 90 & 92 & 95 & 08 -09 ...... But this time it's different.

Fuck you and your disingenuous, misleading bullshit about the dollar already.

Everyone with a quarter of a brain knows that the US dollar index is NOT a measure of the  real value of the dollar, i.e., its purchasing power, but is merely an abstract and artificial construct which compares the dollar to other, equally and simultaneously depreciating (fiat) currencies.  As such, it by definition can NOT measure the value of the dollar in any objective sense.  It is absolutely meaningless when used on any time scale longer than a few weeks.

Go to Hell already, you malicious and full-of-shit troll for Bernanke and Wall Street.

Fri, 03/04/2011 - 11:42 | 1018642 Spalding_Smailes
Spalding_Smailes's picture

So who's calling for the end of fiat ? The bug's, thats about it ... Not the EU, not China, not West Africa ....


And the other fiats dropping with dollar, so its really not dropping that much.


Dollars king, for a long, long, time.


Notice • no personal attacks, just the facts.

Fri, 03/04/2011 - 11:46 | 1018663 akak
akak's picture

You have no facts to bolster your ridiculous pro-fiat case, only incessant blather and circular (non)logic.

The FACT is, the dollar has been on a one-way trip to the oh-so-crowded graveyard of all fiat currencies for decades, and the pallbearers are even now approaching the grave ---- all 14+ trillion of them.  You can attempt to continually plaster your nonsense all over this forum, but have you noticed that NOBODY agrees with you?  Of course you have, but that is beside the point --- your purpose here is obviously only one of obfuscation, diversion and disinformation.  You deserve to rot in Hell with Bernanke, Geither, et al.

But go ahead, troll, I want to see you state that the US dollar index is a REAL measure of the value of the dollar, and that the dollar has the same purchasing power today as it did when the US dollar index was at the same level in 1993.

Fri, 03/04/2011 - 11:51 | 1018707 treemagnet
treemagnet's picture

"Rot in hell...." Dude - chill out a bit.  Besides, remember markets don't work when everyone agrees, let the greater fool thrive.

Fri, 03/04/2011 - 12:03 | 1018778 akak
akak's picture

Screw that, and for apologizing for lying and disinformational trolling.

I am sick to death of spineless and cowardly accomodation to those who attempt to spread untruth, confusion and misdirection.  This troll deserves a bullet in the head for his campaign of lies.

Fri, 03/04/2011 - 12:12 | 1018827 Spastica Rex
Spastica Rex's picture

Wow. Execution? Not just a beatdown or something?

Fri, 03/04/2011 - 12:16 | 1018856 akak
akak's picture

Oh, certainly, a good beating before the beheading.

Fri, 03/04/2011 - 12:40 | 1018981 tmosley
tmosley's picture

I'm not normally one for the death penalty, but traitors have traditionally faced the death penalty.

Of course, everything that has occurred here has been talk, and in my opinion, words are never a crime.  Only actions.  It is wrong to call for the execution of Spalding.  That is not to say that he has any credibility.  He doesn't.

I would, however, REALLY like an ignore button, as he has very little to say that is worth reading, and I'm not one to dig through a mountain of shit to find a diamond, much less a pebble, as is the case with him.

Fri, 03/04/2011 - 12:55 | 1019075 Spalding_Smailes
Spalding_Smailes's picture

I wonder how many communist troll the web talking down the USA ?

Fri, 03/04/2011 - 13:03 | 1019109 akak
akak's picture

Obviously not even remotely as many who are paid to troll anti-Establishment websites such as this to talk UP the corrupt and sociopathic power elite and their fiat-based empire of lies and thievery.

Fri, 03/04/2011 - 13:01 | 1019110 tmosley
tmosley's picture

You can't even form a coherent thought.  Look at you, you sloppy bitch.

Fri, 03/04/2011 - 13:17 | 1019185 Spalding_Smailes
Spalding_Smailes's picture

• Everyone •


Please read through all my post. Who's the one tossing out insults as Spalding post facts.

Fri, 03/04/2011 - 13:27 | 1019235 akak
akak's picture

You wouldn't know a fact if it, like the ongoing and accelerating depreciation of the US dollar, were rammed up your ass by Bernanke himself.  But I bet you would squeal a bit in delight as a result, as you clearly enjoy the reaming you are alaready receiving courtesy of the sociopathic ruling power elite.

Fri, 03/04/2011 - 13:32 | 1019267 tmosley
tmosley's picture

No, Spalding posts LIES, like "we've seen the levels a bunch of times in the past and we are still here".  We HAVEN'T been here, except in 2008, when the world financial system almost collapsed.

Fri, 03/04/2011 - 13:44 | 1019316 Spalding_Smailes
Spalding_Smailes's picture



WASHINGTON, D.C. – March 3, 2011 – The Association of American Railroads (AAR) today reported rail traffic for the week ending Feb. 26, 2011, saw gains with U.S. railroads originating 296,252 carloads, up 2.4 percent compared with the same week last year. Intermodal volume for the week was also up, totaling 220,589 trailers and containers, up 7.2 percent compared with the same week in 2010.

Combined North American rail volume for the first eight weeks of 2011 on 13 reporting U.S., Canadian and Mexican railroads totaled 2,951,431 carloads, up 4.7 percent compared with the same point last year, and 2,166,699 trailers and containers, up 8.3 percent compared with last year.


In 2010, carload and intermodal volume rebounded from a trying 2009, but volumes are still below pre-recession levels, according to data from the Association of American Railroads (AAR).

Total carload volume in 2010 at 14,820,128 was up 7.3 percent year-over-year over 2009’s roughly 13.8 million carloads. Intermodal volume at 11,282,336 trailers and containers was up 14.2 percent year-over-year compared to 2009’s roughly 9.9 million trailers and containers.

Fri, 03/04/2011 - 13:55 | 1019372 akak
akak's picture

I am guessing that all that extra freight consisted primarily of grade-A bullshit being delivered to your front door.

Seriously, are you attempting to sell us the line that a last-ditch injection of adrenaline directly into the heart of the dying patient is somehow equivalent to a return to health?

Fri, 03/04/2011 - 14:34 | 1019573 tmosley
tmosley's picture

Uh-huh, and what happened to truck traffic during the same time period?


Still no loads, huh?  From what I hear, its the same for everyone else.

Maybe you should stop delivering your shinebox and start using it.  It will be a much more profitable profession as diesel prices continue to skyrocket while loads continue to be few, far between, and below break-even.

Fri, 03/04/2011 - 11:47 | 1018676 tmosley
tmosley's picture

Only if you consider "false facts" to be facts.

The USDX hardly even dipped below 80 during any of the time periods you stated, much less 72.

Get the fuck out of here, shill.

Fri, 03/04/2011 - 12:04 | 1018782 centerline
centerline's picture

Relative to other fiat currencies, I believe you could be right.  Relative to the real world, the dollar is fast approaching the "extra-crispy" stage.  Not a long, long, long time to go - unless somehow the majority of the developed world is brought to it's knees and an internal reset and revaluation can be accomplished can be orchestrated.  That's an awful tall order though.  Lots of risk.

I suppose another alternative that could be in play is the SDR or a variant, wherein the USD is king ding-a-ling of the basket relative to other currencies.  But, I still think the SDR is just way-point to something else.  A transition to a global central banking scheme.  Thus, dollar in that case will go bye-bye at some point as well.  What this means internally?  Who knows?  I don't see it fixing the problem unless it too arrives with some sort of reset.

Fri, 03/04/2011 - 12:08 | 1018806 Spalding_Smailes
Spalding_Smailes's picture

Relative to other fiat currencies, I believe you could be right.


Thanks, because fiat is not changing. China, Brazil, Australia, EU has no intentions of changing the system.

Fri, 03/04/2011 - 12:23 | 1018893 akak
akak's picture

Fiat is ALWAYS changing --- for the worse.  Always depreciating, always stealing from savers and investors, always impoverishing the retired and those on fixed income, always distorting the economy in favor of consumption over long-term investing and organic growth, always an abomination against everything honest and prudent.

Fri, 03/04/2011 - 12:25 | 1018906 Fred Fernakie
Fred Fernakie's picture

strangely enough, you're both right.

Fri, 03/04/2011 - 14:19 | 1019496 KickIce
KickIce's picture

Except that both the Chinese (manufacturing) and Russia (Oil) have both publicly stated the need for a new worlc currency.

When they feel they have no further use for us they will pull the debt trigger and Japan will be right behind them.

Fri, 03/04/2011 - 11:37 | 1018624 UGrev
UGrev's picture

It is different. The can wasn't kicked as far and there was still plenty of money to steal from the public purse. Those days of turning water into wine are over.. done... ferdig og ferdig, fatto e finito

Fri, 03/04/2011 - 11:45 | 1018659 Matto
Matto's picture

So so true. There is no alternative policies left at this point. Critically different.

Fri, 03/04/2011 - 11:39 | 1018632 tmosley
tmosley's picture

Yes, this time we are in a depression with I-don't-even-know-how-many trillions in debt.

78-80 was similar, but we didn't have the debt.  

If you think Zimbabwe Ben is going to fall on his sword to save the dollar like Volker did, you're nuts.

But then, I think we have already established that fact about you.

Fri, 03/04/2011 - 11:56 | 1018710 Spalding_Smailes
Spalding_Smailes's picture

Ask the CEO's of Cat , Macy's, Chipotle, Pepsi, Exxon, Walmart,  Kraft, Walt Disney, Amazon, Google, Apple, Intel, Terex, Eastman Chemical, Dupont .... If we are in a depression.


All these businesses have workers making 50,000 - 100,000 grand a year. Millions of people making money in our 14 trillion dollar economy. Most of the layoff's have not been white • collar jobs. ( housing ) Money is being made and spent in the USA, every day. We are a global powerhouse.


How many illegal aliens pulling down unemployment ???


Fri, 03/04/2011 - 12:01 | 1018741 akak
akak's picture

Shit, I've heard of "whistling past the graveyard", but this delusional troll is leading a full-blown marching band past it!

Your comments here consistently read like editorials from the old USSR-era Pravda.  Or like the Orwellian congressional testimony of Bernanke, your traitorous hero.

Fri, 03/04/2011 - 12:12 | 1018828 Spalding_Smailes
Spalding_Smailes's picture

Still no answers for the illegal aliens pulling down unemployment check's. Another chart destroyed.



Fri, 03/04/2011 - 12:13 | 1018843 akak
akak's picture

Delusional idiot.

Fri, 03/04/2011 - 12:18 | 1018862 Spalding_Smailes
Spalding_Smailes's picture

So are you saying the illegal aliens are not pulling dow unemployment checks , yes or no .... ???

Fri, 03/04/2011 - 12:24 | 1018897 akak
akak's picture

I am saying that you are either delusional, or a malicious troll.  Possibly both.

Fri, 03/04/2011 - 12:25 | 1018908 Spalding_Smailes
Spalding_Smailes's picture

Thanks for the sidestep • non-answer. Everyone knows the truth. The answer is a big fat yes.


So you can toss that unemployment chart in the trash. Not one american cares about illegal aliens and the drain on the taxpayers, book it.

Fri, 03/04/2011 - 12:31 | 1018933 akak
akak's picture

"Sidestep", said the master to the novice.

Seriously, what flavor of retarded are you?

Fri, 03/04/2011 - 12:41 | 1018986 tmosley
tmosley's picture

Ah, yes, so now it's just the illegals who are unemployed.

Grasping at straws while claiming to stand on solid ground.

Fri, 03/04/2011 - 13:30 | 1019253 Spalding_Smailes
Spalding_Smailes's picture

Not grasping. Fact.


What's the total of mostly poor, uneducated, illegal aliens pulling down unemployment ? Simple question.


30 - 40%. Just like they suck the blood on other freebee's , hospitals ... ect. How many tax payers like this ? " 0 "

Fri, 03/04/2011 - 13:35 | 1019279 tmosley
tmosley's picture

No, that is an assertion.  I don't see any links.  No studies.  No nothing.  Just empty words attempting to explain away your utter failure to understand why your world is caving in on top of you.

Tell me, how long has it been since you had a load?  You sure have been posting a lot lately, during normal delivery hours.  This indicates to me that you are sitting on your ass at home.

Fri, 03/04/2011 - 13:48 | 1019344 Spalding_Smailes
Spalding_Smailes's picture

I'm sick. 


Hypothyroidism and cold's don't mix.


Assertion ?


Really simple question. Can illegal aliens draw unemployment. Yes or No ? They suck the blood out of the system every other way. Hospital stays, Food stamps ect .... Don't pay taxes.


You should know this living in Texas. My parents live in Arizona ... It's a mess.

Fri, 03/04/2011 - 14:22 | 1019511 akak
akak's picture

Lifelong hypocerebrism must be a bitch to deal with, too.

Fri, 03/04/2011 - 14:36 | 1019585 tmosley
tmosley's picture

Suuuurrrre you are.  I guess that's why you are so unicornish--you haven't seen diesel prices lately.

Fri, 03/04/2011 - 12:17 | 1018853 Spastica Rex
Spastica Rex's picture

You know what, he's a right in a sense. The "economy" isn't for everybody; it's for those already making money and doing fine. For those outside, fuck 'em. All the other human trash can rot in hell. Ignore them; focus on the positive. Just Do It. THIS IS SPARTA!

Fri, 03/04/2011 - 12:24 | 1018891 Spalding_Smailes
Spalding_Smailes's picture

I did not say that. Work 2 - 3 part time jobs if needed. Been going on for 70-100 years..


My best friends dad came here with nothing. He built a 25 million dollar a year machine shop. Many people suffer and work hard for the future.They lived in an apartment from the time he was 22 till 30 w/ family. Who said life was easy ? 


Everyone thinks they should drive hummers and get nails done and have bulls tickets then drive home to a Mcmansion. Sorry.

Fri, 03/04/2011 - 12:28 | 1018921 akak
akak's picture

Work 2 - 3 part time jobs if needed. Been going on for 70-100 years.

Funny how the necessity to work 2-3 jobs, and your time frame of the last 70-100 years, precisely coincides with the rise of corrupt, inflationary central banking (but I repeat myself, twice) in the USA via the Federal Reserve, and the US leaving the gold standard.

All coincidences, surely.

Fri, 03/04/2011 - 12:04 | 1018777 tickhound
tickhound's picture

Proves nothing... May as well ask a salesman to give me reasons not to buy his product.  Doubt the CEO would last long as... CEO.

I don't remember many CEO's making downside forecasts in '07 either.

Smart for you to leave Cisco out.  He won't talk your book.

Your cheerleading won't reverse our steadily declining global powerhouse.  Book it.

Fri, 03/04/2011 - 12:10 | 1018815 tmosley
tmosley's picture

I don't need to ask them.  This economic downturn has met and continues to meet EVERY SINGLE DEFINITION EVER PROPOSED for a "depression".

But seriously, fuck off.  No-one wants you here.

Fri, 03/04/2011 - 13:10 | 1019155 Robslob
Robslob's picture

Well Judge Smailes all that "insider selling" certainly backs up your view....not!

Fri, 03/04/2011 - 12:03 | 1018772 UglyPatheticPauper
UglyPatheticPauper's picture

You might be right but I don't recall $1430 per ounce of Hard Currency(Gold) before?  Maybe something is different? 

Fri, 03/04/2011 - 11:33 | 1018595 SDRII
SDRII's picture

Al Arabiya reporting Allawi pulling out of Iraq gov't while Sunni/Shia clashes in Bahrain. bombing in Nigeria election gathering and clashes in Sudan ongoing...

Fri, 03/04/2011 - 12:59 | 1019092 Oh regional Indian
Oh regional Indian's picture

Dom e nose!


Fri, 03/04/2011 - 11:33 | 1018597 pendragon
pendragon's picture

when is the market going to realise that the euro is as safe as suicide?

Fri, 03/04/2011 - 11:46 | 1018681 fredquimby
Fri, 03/04/2011 - 11:33 | 1018600 UGrev
UGrev's picture

I guess looking for a job at this point is... well.. not even worth the time and effort. 

Fri, 03/04/2011 - 11:38 | 1018630 bob_dabolina
bob_dabolina's picture

I'm putting my money in the true safe haven:

Illinois and California municipal bonds bitchez.

Fri, 03/04/2011 - 11:44 | 1018658 Cash_is_Trash
Cash_is_Trash's picture

Is it called risk when you know you'll lose your shirt?

Illionis muni bondzzz

Fri, 03/04/2011 - 11:49 | 1018694 bob_dabolina
bob_dabolina's picture

Detroit muni bondz bitchez!!!!

Fri, 03/04/2011 - 11:42 | 1018648 gordengeko
gordengeko's picture

two choices, buy physical or if you're like the 90% people I've talked to then buy AGQ cause it's going to 400+!

Fri, 03/04/2011 - 13:22 | 1019209 slewie the pi-rat
slewie the pi-rat's picture


yer makin coffee come outa my nose and smoke come outa my ears!  only 90%?  what kinda doggs dooya run wid, huh? 

usually, we only go for triple lindy's here, but in this case, we'll make The Exception.

trading agq is just like buying silver @$17.50 and selling it @$70.00.  isn't it???

Fri, 03/04/2011 - 11:47 | 1018678 AldoHux_IV
AldoHux_IV's picture

Kill the beast, end the fed and all central banks and cut funding for the IMF/WorldBank.

Fri, 03/04/2011 - 11:56 | 1018735 rosiescenario
rosiescenario's picture case anyone here missed it:

March 2, 2011, 7:40 pm

A Conspiracy With a Silver Lining By WILLIAM D. COHAN


William D. Cohan on Wall Street and Main Street.


, , ,

As Americans know all too well by this point, commodity prices — for corn, wheat, soybeans, crude oil, gold and even farmland — have been going through the roof for what seems like forever. There are many causes, primarily supply and demand pressures driven by fears about the unrest in the Middle East, the rise of consumerism in China and India, and the Fed’s $600 billion campaign to increase the money supply.

Nonetheless, how to explain the price of silver? In the past six months, the value of the precious metal has increased nearly 80 percent, to more than $34 an ounce from around $19 an ounce. In the last month alone, its price has increased nearly 23 percent. This kind of price action in the silver market is reminiscent of the fortune-busting, roller-coaster ride enjoyed by the Hunt Brothers, Nelson Bunker and William Herbert, back in 1970s and early 1980s when they tried unsuccessfully to corner the market. When the Hunts started buying silver in 1973, the price of the metal was $1.95 an ounce. By early 1980, the brothers had driven the price up to $54 an ounce before the Federal Reserve intervened, changed the rules on speculative silver investments and the price plunged. The brothers later declared bankruptcy.

Accusations that JPMorganChase and HSBC allegedly manipulated precious metal markets are worth looking into.

The Hunts may be gone from the market, but there are still plenty of people suspicious about the trading in silver, and now they have the Web to explore and to expand their conspiracy narratives. This time around — according to bloggers and commenters on sites with names like Silverseek, 321Gold and Seeking Alpha — silver shot up in price after a whistleblower exposed an alleged conspiracy to keep the price artificially low despite the inflationary pressure of the Fed’s cheap money policy. (Some even suspect that the Fed itself was behind the effort to keep silver prices low, as a way to keep the dollar’s value artificially high.) Trying to unravel the mysterious rise in silver’s price is a conspiracy theorist’s dream, replete with powerful bankers, informants, suspicious car accidents and a now a squeeze on short sellers. Most intriguingly, however, much of the speculation seems highly plausible.

The gist goes something like this: When JPMorgan Chase bought Bear Stearns in March 2008, it inherited Bear Stearns’ large bet that the price of silver would fall. Over time, it added to that bet, and then the international bank HSBC got into the market heavily on the bear side as well. These actions “artificially depressed the price of silver dramatically downward,” according to a class-action lawsuit initiated by a Florida futures trader and filed against both banks in November in federal court in the Southern District of New York.

“The conspiracy and scheme was enormously successful, netting the defendants substantial illegal profits” in the billions of dollars between June 2008 and March 2010, according to the suit. The suit claims that JPMorgan and HSBC together “controlled over 85 percent the commercial net short positions” in silvers futures contracts at Comex, a Chicago-based exchange on which silver is traded, along with “25 percent of all open interest short positions” and a “a market share in excess of 9o percent of all precious metals derivative contracts, excluding gold.”

In the United States, trading in precious metals and other commodities is regulated and closely monitored by a federal agency, the Commodity Futures Trading Commission. In September 2008, after receiving hundreds of complaints that silver future prices were being manipulated downward by JPMorgan and HSBC, the commission’s enforcement division started an investigation. In November 2009, an informant, described in the law suit only as a former employee of Goldman Sachs and a 40-year industry veteran, approached the commission with tales of how the silver traders at JPMorgan were bragging about all the money they were making “as a result of the manipulation,” which entailed “flooding the market” with “short positions” every time the price of silver started to creep upward. The idea was that by unloading its short positions like a time-released capsule, JPMorgan’s traders were keeping the price of silver artificially low.

Soon enough, the informant was identified as Andrew Maguire, an independent precious metals trader in London. On Jan. 26, 2010, Maguire sent Bart Chilton, a member of the futures trading commission, an e-mail urging him to look into the silver trading that day. “It was a good example of how a single seller, when they hold such a concentrated position in the very small silver market can instigate a sell off at will,” Maguire wrote.

On Feb. 3, 2010, Maguire gave the futures trading commission word about an impending “manipulation event” that he said would occur two days later, when the Labor Department’s non-farm payroll numbers would be released. He then spelled out two trading scenarios about which he had been told. “Both scenarios will spell an attempt by the two main short holders” — JPMorganChase and HSBC — “to illegally drive the market down and reap very large profits,” Maguire wrote in an e-mail to a trading-commission investigator.

On Feb. 5, Maguire took a victory lap, writing in another e-mail to the trading commission that “silver manipulation was a great success and played out EXACTLY to plan as predicted.” He added, “I hope you took note of how and who added the short sales (I certainly have a copy) and I am certain you will find it is the same concentrated shorts who have been in full control since JPM took over the Bear Stearns position … I feel sorry for all those not in this loop. A serious amount of money was made and lost today and in my opinion as a result of the CFTC’s allowing by your own definition an illegal concentrated and manipulative position to continue.”

In March 2010, Maguire released his e-mails publicly, in part because he felt the trading commission’s enforcement arm was not taking swift enough action. He was also unhappy over not being invited to a commission hearing on position limits scheduled for March 25. Then came the cloak and dagger element: the day after the hearing, Maguire was involved in a bizarre car accident in London. As he was at a gas station, a car came out of a side street and barreled into his car and two others; London police, using helicopters and chase cars, eventually nabbed the hit-and-run driver. Reports that the perpetrator was given a slap on the wrist inflamed the online crowds that had become captivated by Maguire’s odd story.

In any case, the class-action lawsuit contends that between March 2010 and November 2010, JPMorgan Chase and HSBC reduced their short positions in the silver market by 30 percent, causing the metal’s price to rise dramatically, but leaving them still with a large short position. Now, with the value of silver rising nearly every day, the two banks are caught in a “massive short squeeze,” according to one market participant, that appears to be costing them the billions they made originally plus billions more. Whether these huge losses will show up on the books of JPMorgan Chase and HSBC remains to be seen. (Parsing through the publicly filed footnotes of derivative trades is no easy task.)

Nonetheless, the conspiracy-minded have claimed that the Fed must have somehow agreed to make JPMorgan and HSBC whole for any losses the banks suffered if and when the price of silver rose above the artificially maintained low levels — as in right now, for instance. (About all this, a JPMorganChase spokesman declined to comment.)

Some two-and-a-half years later, the Commodity Futures Trading Commission’s investigation is still unresolved, and at least one commissioner — Bart Chilton — thinks that after interviewing more than 32 people and reviewing more than 40,000 documents, there has been enough investigating and not enough prosecuting. “More than two years ago, the agency began an investigation into silver markets,” Chilton said at a commission hearing last October. “I have been urging the agency to say something on the matter for months … I believe violations to the Commodity Exchange Act have taken place in silver markets and that any such violation of the law in this regard should be prosecuted.”

What’s more, Chilton said in an interview last week, that “one participant” in the silver market still controlled 35 percent of the silver market as recently as a few months ago, “enough to move prices,” he said, and well above the 10 percent “position limits” the commission has proposed to comply with Dodd-Frank financial reform law. Since that law’s passage last summer, the commodities exchanges have issued waivers permitting the ownership of silver positions above the limits the C.F.T.C. has proposed, and which were supposed to be in place by January of this year. Yet the waivers remain in place, and the big traders have not been penalized, much to Chilton’s frustration And the mystery deepens: last Thursday, the price of silver fell $1.50 per ounce in less than an hour before recovering. “This was robbery at its most obvious and most vindictive,” wrote Richard Guthrie, a London-based trader, in an e-mail to Chilton. “How many investors lost money and positions to the financial benefit of an elite few?”

It’s getting harder and harder to continue to brush off Andrew Maguire’s claims as the rantings of a rogue trader with a nutty online following. The Commodities Futures Trading Commission should immediately release the files from its investigation into the supposed manipulation of the silver market so the public can determine whether JPMorganChase and HSBC did anything illegal, with or without the help of the Fed. In addition, the commission should start enforcing the 10 percent threshold on silver positions it has proposed to comply with Dodd-Frank law. Basically, the other commissioners must join with Bart Chilton to do the job they are required to do: Protecting the sanctity of the markets and preventing the sorts of manipulation we’ve seen all too often.

Fri, 03/04/2011 - 13:53 | 1019364 JW n FL
JW n FL's picture
by rosiescenario
on Fri, 03/04/2011 - 10:56
#1018735 case anyone here missed it:


March 2, 2011, 7:40 pm

A Conspiracy With a Silver Lining By WILLIAM D. COHAN


William D. Cohan on Wall Street and Main Street.


, , ,


***** "and the Fed’s $600 billion campaign to increase the money supply." *****




?????????????????????????????????? $600 Billion ??????????????????????????????????????????

TARP was $700 Billion...


QE 1

QE 2

I skipped all the QE 1a, 1b, 1c and 1d and al the QE 2a, 2b, 2c and 2d...

I am out of fingers...

But here is what a Billion Dollars looks like..

but here is what 1 trillion looks like..

$600 Billion is More than  FEW TRILLION LITE!!! as we are out of debt ceiling at $14 Trillion dollars.

Fri, 03/04/2011 - 12:03 | 1018752 web bot
web bot's picture

I've just finished reading Bill Gross' March 2011 Investment Outlook. The central point in his note is "if" QE2 ends in June, who will purchase US Treasuries when the Fed doesn't.

The fact that we are seeing flight of wealth out of this region (a second world area) and not into the USD is telling us something...

Fri, 03/04/2011 - 13:02 | 1019115 MolotovCockhead
MolotovCockhead's picture

Not gonna be pretty whichever way you look at it! Stop the QE... Market collapse!

Continue with the QE.....Dollar collapse!

It's like given a choice to choose between death by the guillotine or the eclectric chair.

Fri, 03/04/2011 - 12:02 | 1018769 celticgold
celticgold's picture

gold up $14.30 and silver up  $1.03 in the last 3hrs

Fri, 03/04/2011 - 12:04 | 1018789 ptoemmes
ptoemmes's picture

An image only williambanzia could do justice to zipped across my minds eye...

..there's The Bernank shoveling FRNs into a firebox connected to a straining, ready-to-explode old steam locomotive belching steam, smoke, and who knows what else (the economy?)...

...bearing down on the beautiful woman tied to the tracks (us, as in not them the rich) while Snidely Whiplash (Greenspan perhaps) laughs off center.

But I may be a bit carried away.

I can't draw with a damn.


Fri, 03/04/2011 - 12:08 | 1018814 earlthepearl
earlthepearl's picture

There has gotta be a near term dead cat bounce before this thing 

drops off  a cliff right?


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