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And They're Off: ES Down 31, DJIA Futs Down 274, Gold Surges To New Record $1692
The first prints are in: ES down 31, DJIA down 274, and gold, natural, welcomes our new centrally planned overlords by hitting an all time high of $1692.
Gold:
Update:
Print 2 - Brian Sack enters stage left to protect Friday lows.
Update:
Print 3: Exit Brian Sack stage right
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freddie king - goin' down
In my opinion they will pull the market up until the FED meeting. If Bernake does not announce QE3 or something similar then they will really crash the Market.
Too many institutions caught off gard and will buy the Market to sell.
Futures going up as we speak.
The problem I have is that the Thrusday Market sell off and Fri. Just who was privlidged enough to know about the Downgrade? If I was the SEC I would see who made the most bearish bets on Options and who sold the most stock. But, the Bankers will never be worried as the SEC appears to work for them.
This in my opinion is just a push to get the FED (Bernanke) to give the entire Debt Ceiling raise to the Bankers and Wall Street.
S&P is paid by the Bankers. They do the Bankers bidding. S&P is either trying to force Bernake into QE3 or is trying to cause a default by the US. Either way the Bankers win. Either thru more Money printing given to the Bankers or Default, where the Bankers win thru their Credit Default Swaps on the United States.
Maybe S&P is doing both. Getting the Fed to print more money and give it to the Banks. That way the Country is deeper in Debt. Then if there is a wif of Default, interest rates will go sky high on our existing Debt and Bankrupt the Country and the Bankers make out on the Credit Default Swaps. Sounds like a win win for the Bankers to me.
As far as all of US the American citizens. It is a lose lose.
At this rate the Nikkei will close positive and futures will be in the green when i wake up tomorrow morning!
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One market is very cheerfully up in Asia. Japan's rice futures market reopened after 72 years of suspension, and it was limit-up circuit breaker at Tokyo Grain Exchange.
http://ex-skf.blogspot.com/2011/08/rice-futures-market-opens-in-japan-in...
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