by John Galt
March 4, 2012 21:30 ET
There is no doubt in my mind now. Technical issues do not matter. IBM or GS losing 30% does not matter. Oil at $20,000 per barrel, does not matter. The U.S. Dow Jones Industrial Average is heading for 15,000 if not higher as the one bit of news holding the market back was broken via Reuters tonight:
Libyan stock exchange says to re-open on March 15
(click on the title above to access article in full)
From the article:
“The Libyan Stock market will work with a new image,” he said. “For three years there was no investment fund set up in Libya, and there is no presence of foreign investors. In the next phase there will be a diversity in … the Libyan equities market.”
He said the market would re-open with five listed companies, down from the 13 who traded on the bourse before the conflict. He said the reduction was because some of the firms had not yet met the exchange’s regulatory requirements.
Think about it gang! Wall Street can now, from those five listed companies, create 100 derivatives off of 12 ETFs via 30 hedge funds in 15 banks financed with Federal Reserve and European Central Bank loans.
If that doesn’t put the DJIA over the top, I don’t know what will.
Carry on with the Ponzinomics and may the first investor in Libya win.
Until the Muslim Brotherhood orders that lucky soul beheaded.
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