World economy talk

[tidus1203]

I don't really trust GLD. Kasi ETF lang yan eh, mas maganda GOLD FUTURES or the best talaga GOLD ITSELF. Kaso mahirap storage ng GOLD.

[uls]

in a doomsday scenario where all fiat currencies fail and all hell breaks loose, i'd rather have guns, ammo, canned goods, and live near a water supply

i can't do anything with gold. i can't eat gold, i can't drink gold

[eld]

Yeah but you get a head start if you have gold when everything normalizes.

BTW, what's SPY?

Also gold is actually edible and non-toxic to the body.

[tidus1203]

SPY is the S&P500 ETF that tracks the US stock market performance...

Traders fondly call it SPIDERS...

[safeorigin]

Also gold is actually edible and non-toxic to the body.

goldilocks? :D

gold is a potent anti rheumatoid btw

in other news,

Saif al-Islam, the son of Muammar Gaddafi who was reported captured by Libyan opposition forces on Sunday, has made a defiant public appearance in Tripoli.

Television footage showed Saif, considered the most influential and politically active of Gaddafi's children, pumping his fists in the air, smiling, waving and shaking hands with supporters. At one point, he was pictured holding his arms aloft with each hand making the "V" for victory sign.

"I am here to refute the lies," Saif, 39, said on Monday in reference to reports of his arrest. He later visited the Rixos Hotel, where many members of the foreign media have been based since the conflict started, to speak to foreign journalists.

"We broke the back of the rebels. It was a trap. We gave them a hard time, so we are winning," he said.

Defiant Saif al-Islam rallies loyalists - Africa - Al Jazeera English

pretty much why (active phased array) electronic warfare is decisive in winning wars.

[tidus1203]

Moody's Investors Service on Wednesday cut the rating on Japan's government debt by one notch to Aa3, blaming large budget deficits and the build-up of debt since the 2009 global recession.

News Headlines

Still. Most of their debt is locally held anyway unlike the US which is owned by the Chinese and the Japanese...

[uls]

there was a rumor last night that JP Morgan will take over Bank of America

unlikely i think. but it's out there

[tidus1203]

Gold down $80/oz

Profit taking.

Let the profit takers take their profits. So the boat can lighten and sail further later... Mga strong hands will stay the journey.

[uls]

[Monseratto]

Besides Gold loosing steam, AAPL fell on the resignation of the emperor...

Shares of Apple fell by as much as 7 percent in after hours trading on Wednesday, following the news that Steve Jobs was resigning as CEO, effective immediately.

Trading in Apple had been halted prior to the news, which was revealed in a statement by Apple around 6:34 p.m. ET. As of 6:59 p.m. ET, with shares once again trading, Apple was down more than $20 per share at $356.

Since Jobs re-joined Apple as CEO in 1997, the company has seen its share price rise nearly one-hundred fold. Recently, Apple took the title of world’s most valuable company from Exxon Mobil, though the oil giant has since regained a small lead.

[eld]

The beginning of the end for the overpriced and overhyped Taiwanese phone. Rejoice!!!

[tidus1203]

Bank of America shares are up 23% to $8.65 in premarket trading, from $6.99 yesterday, on news that Warren Buffett is buying a $5 billion stake.

Bank of America Shares Jump 23% on Buffett Rescue - MarketBeat - WSJ

That should support BAC for awhile... If they really have troubles then of course this won't last.

[Monseratto]

A healthy correction?

GOLD

[tidus1203]

Yep it still is a healthy correction... The Fib replacements are still intact...

Get ready for accumulation...

[uls]

Greece 2 yr yield

[uls]

B of A acknowledges the reality that it needs to raise capital

[uls]

Bank of America Shares Jump 23% on Buffett Rescue - MarketBeat - WSJ

That should support BAC for awhile... If they really have troubles then of course this won't last.

B of A's mortgage exposure is in the 10s of billions

lawsuits could cost B of A 10s of billions more

they'll need more than $5B

[uls]

How Long Can the ECB Prop Up Europe’s Sick Banks? - BusinessWeek

August 25, 2011, 11:01 AM EDT

How Long Can the ECB Prop Up Europe’s Sick Banks?

The region’s banks may have so much bad debt they won’t even lend to each other

The bottom line: Some European banks hold almost half a trillion euros in questionable government bonds. They’re relying on ECB funding to stay in business.

[uls]

uls page 138 8-5-2011

Fed and ECB currency swap

see that in the news in coming days

uls page 151 8-19-2011

soon the Fed will have to provide dollars to the ECB

UPDATE 1-Forex swaps with ECB total $500 million - NY Fed | News by Country | Reuters

UPDATE 1-Forex swaps with ECB total $500 million - NY Fed
Thu Aug 25, 2011 9:19pm GMT Print | Single Page [-] Text [+]

NEW YORK Aug 25 (Reuters) - The Federal Reserve provided $500 million of liquidity to the European Central Bank in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.

It was the first time the ECB had tapped the swap lines since the week ended March 2 when it swapped $70 million.

[Ry_Tower]

How Long Can the ECB Prop Up Europe’s Sick Banks? - BusinessWeek

Oo nga. Any ideas sir Uls? I was thinking that the ECB and the stronger countries will not make this problem grow worse naman.