By John Galt August 7, 2011 23:44 ET Do I really have to add much? From FOREX PROS website and just flashed up on BloombergTV: (CLICK TO ENLARGE/REDUCE CHART) AND here is INO.com’s version of the futures:
Daily Archives: 07/08/2011
8/7 V of Galt Sunday Special Archive is now Available
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8/7 Asian & U.S. Deathburger Discussion starts here at 4 p.m. ET
By John Galt August 6, 2011 Needless to say this will be a very busy thread as the moment the FOREX markets open right through the Asian nightmare an futures…. AUGUST 7, 2011 16:05 ET-(charts from NetDania.com) And they’re off…. Dollar down immediately against the Yen but stabilizing at 77.90. Against CHF wow, down over 1.60%: AUGUST 7, 2011 16:11 ET - EUR/CHF blowing up also down 0.87% but waiting for ECB press conference: 08.07.11 – 16:28 ET - EUR/USD HITTING HARD…NOW AT 1.44 RISING…
Shanghai Markets now down 20% from High, Absolutely Crashing tonight down over 4%
By John Galt August 7, 2011 23:15 ET Bloomberg flashed the headline and the pronounced drop is visible on this chart which has just recovered to -3.94%. Wow, what a bloodbath.
BREAKING 8/7 17:20 ET: Green Light for War #5 Saudi Arabia recalls Ambassador to Syria
By John Galt August 7, 2011 17:20 ET Breaking hard on the wires now. Waiting for King Abdullah bin Abdulaziz al-Saud to start his speech any second now. (Click on link to Reuters flash via title): SAUDI KING ABDULLAH SAYS EVENTS IN SYRIA UNACCEPTABLE – STATEMENT 07 Aug 2011 21:04 Source: Reuters SAUDI KING ABDULLAH SAYS EVENTS IN SYRIA UNACCEPTABLE – STATEMENT READ OUT ON AL ARABIYA TV from Al-Arabiya News: Saudi envoy to Syria called on for consultation: King Abdullah Monday, 08 August 2011…
BREAKING NEW 8/7 17:03 ET: Full Text of ECB Statement
By John Galt August 7, 2011 With liberty and monetization for all, courtesy of the European Central bank website (link is here): PRESS RELEASE 7 August 2011 – Statement by the President of the ECB 1. The Governing Council of the European Central Bank (ECB) welcomes the announcements made by the governments of Italy and Spain concerning new measures and reforms in the areas of fiscal and structural policies. The Governing Council considers a decisive and swift implementation by both governments as essential in order…
More bad Economic News: Turbo Timmy to Stay
By John Galt August 7, 2011 15:09 ET And you thought the S&P downgrade was bad news, this should be good for 100 Dow points to the downside and another $25 up for gold. From Reuters: Geithner to stay on as Treasury chief WASHINGTON | Sun Aug 7, 2011 2:36pm EDT (Reuters) – Treasury Secretary Timothy Geithner has told President Barack Obama that he intends to stay on the job, Treasury said in a statement on Sunday afternoon. “Secretary Geithner has let the president know…
8/7 V of Galt Asian Deathburger Market Show 8 p.m. ET then GLP at 9 pm LIVE
By John Galt August 6, 2011 Sunday will not be a dull time for the markets and I guess I had best cover it. On Sunday night at 8 p.m. ET, I will be doing a 1 hour live show to cover the opening of Asian markets and update U.S. futures in a thread here at the blog and then live on the air. AFTER the program is over, I will be switching over to Godlike Productions to do a live program with Rags, Phen…
Dagong Ratings Agency: Dollar Being Discarded by the World
By John Galt August 7, 2011 10:47 ET CNBC just broke the story (click on the title to read the story in full): Dollar to Be ‘Discarded’ by World: China Rating Agency By: Ee Sing Wong The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating. In…
Coming Here Soon: London Endures Worst Riots in Years
By John Galt August 7, 2011 10:22 ET Funny thing is none of the Sunday news programs, cable news networks, or local television stations with their “international news” mentioned a word of this. From Reuters this morning: London wakes up to aftermath of worst riots for years 5:59pm IST By Michael Holden and Adrian Croft LONDON (Reuters) – London picked itself up on Sunday from some of the worst violence seen in the British capital for years which politicians and police blamed on criminal thugs…
Seal Team 6 Copter Shoot Down: Is the CIA Erasing Evidence of the OBL Operation?
By John Galt August 7, 2011 09:30 ET As many of my readers and listeners know, I am not much for conspiracies from the extreme woo-woo land, but every now and then I will take a swim in the conspiracy pool and get a toe or two wet. This morning however, I think I’m diving into the deep end with this one and I hope you’ll follow my logic because the shooting down of the helicopter containing members of Seal Team Six which were involved…
8/7 Middle East Stock Markets: Nothing to see here, move along
By John Galt August 7, 2011 08:10 ET Uh, where are all the dramatic headlines one would expect to see at my blog on crashes worldwide? Not today thus far my fine audience….the camels are sleeping this one off: (quotes as of 0800 ET from BTFLive.net) I guess the Saudi royal family decided to buy stocks to keep their nation appearing as the only stable economy in the region. The only equity market really tanking is the only democratic nation in the region, Israel, which…
Anyone Who Says they know what Monday’s Market will look like is Lying
By John Galt August 7, 2011 Odds are fairly good that the three major Bubblevision networks will open tonight’s Asian markets with live coverage involving their major personalities and discussions as naseum about the evil of Standard and Poor’s and how the economy will be impacted by a political downgrade. There will also be the usual suspects uttering their stock predictions and prognostications advising the viewers to “stick to the buy and hold strategy over the long haul because stocks go up and stocks go…
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