I totally divorce myself from the violent commentary on site; however, there are some good questions raised about the economic crash.
"One thing is absolutely clear: The governments of the USA, Canada & Mexico are engaged in a conspiracy to merge the three countries without the knowledge or consent of "The People."
In furtherance of this conspiracy, the government of the United States is intentionally spending the nation into absolute, unrecoverable Bankruptcy with the intention that the monetary system collapses.
When the U.S. currency collapses, it will take with it, both the Canadian dollar and Mexican Peso because both countries are so heavily invested in the U.S. dollar through trade with the US.
During such a collapse, when hundreds of millions of average citizens face absolute destitution because their currencies have been wiped out, these Conspirators will turn to 'The People" of each nation and say "your only hope is to merge all three countries and make a new start."
The thinking is that the populations will rush to embrace the merger and forget all about our individual history, rights and systems. In one fell swoop, the Conspirators will clobber us into absolute despotism and we will be helpless to do anything because our money will have become worthless!
Maybe that's why the housing market was allowed to "tank?" Maybe that's why the Stock Markets are dropping hundreds of points per day lately? Maybe this is why oil has increased in price. . . . because the oil nations already know they're going to take a bath on the currency change when they have to exchange "Dollars" they're already holding which will be worth only "pennies" on the "Amero?"
Are you starting to grasp why so many things are going wrong lately? Does a lot of it start to make sense when put in the context of wiping out currencies in the name of globalization?"
Is that why the further dumps are being soft-sold on the "news" now?
"Dow Falls More Than 200 Points...
Wall Street pulled back sharply yesterday as investors worried about fundamental economic problems as well as the continuing fallout from credit market setbacks. The Dow Jones industrial average dropped more than 200 points.
Stocks were initially lifted when government data indicated that inflation remained in check. The downturn started after Wal-Mart Stores reported that profit would fall below expectations this year as consumers reined in spending. Home Depot, the home improvement chain, added to the slide when it said weakness in the housing market caused its quarterly profit to slide.
Confirmation that Sentinel Management Group, which oversees $1.6 billion in assets, is seeking to halt investor redemptions exacerbated the selling. Other funds are said to have similar problems.... The Federal Reserve, which has injected about $64 billion of liquidity into the banking system since Thursday, took no action yesterday, but said it stood ready to act again.
The Dow fell 207.61... to 13,028.92, putting it on the verge of falling back below the psychologically important 13,000 mark.... close to wiping out all its gains [this year].
The hardest hit sectors yesterday was financial services. Major investment banks have reported losses linked to mortgage-backed securities.... Retail stocks were also hit after Wal-Mart... lowered its profit forecast, blaming weak economic conditions for hurting consumer spending (AP)."
Not to worry!
"Subprime Problems Spread Into Commercial Loans" by Gretchen Morgenson and Jenny Anderson
Turmoil in the subprime mortgage market spread again yesterday — this time to a type of short-term security held by money market mutual funds. These funds have become the investment of choice for many people seeking a safe haven.
The amount of commercial paper in the United States has grown to $2.2 trillion... with about $1.2 trillion backed by residential mortgages, credit card receivables, car loans and other bonds. The major buyers include pension funds, insurance companies, hedge funds and short-term money market funds. Investors have flocked to money market funds.
[Ooooops!]
Such funds are sold to investors as the equivalent of cash, and their $1-a-share net asset value is considered inviolate. But if the funds experienced big losses, the value of the assets could be vulnerable. The S.& P acted a day after a $1.6 billion cash-management fund run by the Sentinel Management Group halted redemptions because it could not sell its assets at what it considered acceptable prices.
Until recently, the crisis in the credit markets has been limited to problems related to subprime mortgages, those given to borrowers with questionable credit histories. But... losses are rising in unexpected places.
The borrowers, companies that issue asset-backed commercial paper, have found it highly profitable.
Peter G. Crane, president of Crane Data, the publisher of a newsletter about money market mutual funds:
“If the stigma of mortgage-related extendable-asset-backed commercial paper spreads to asset-backed commercial paper as a whole, you could see bailout events. But the stuff that the money funds are invested in are the highest quality, so it’s the last thing to have trouble.”
[And the rich will have bailed out by then, leaving Joe Q. Public holding the BAG of SHIT!!!!
Ha-ha-ha!]
However, the investment strategies that once were considered conservative no longer are. The Sentinel fund that banned redemptions Monday advertised itself as risk-averse. In a letter to investors, Sentinel said that it had hoped to ride out the troubles but was unable to do so.
The letter said:
“We are concerned that we cannot meet any significant redemption requests without selling securities at deep discounts to their fair value and therefore causing unnecessary losses to our clients. We will continue to monitor the markets and we will raise cash as opportunities present themselves.”
[Whadda ya mean I CAN'T GET MY MONEY?!
I NEED THAT MONEY NOW!
See how this whole SHIT SYSTEM was designed to FUCK YOU in the ASS, Amurkn?
And you BOUGHT IN!
Ha-ha-ha!]
Sentinel officials did not return calls for comment.
Douglas A. Kass, general partner of Seabreeze Partners Management, an investment firm in Palm Beach, Fla., said the Sentinel disclosure and upheaval in commercial paper markets are examples of the risks investors take when they reach for higher yields.
“This is symptomatic of a whole body of investors, including money market and cash management funds, that are attempting to enhance yields, and this is the downside to that journey.”
[That's right.
It is YOUR FAULT for wanting to make GOBS of CASH like EVERYONE ELSE!
YOUR FAULT, Amurkn!]
On Monday, Coventree, a Canadian financial services company, said it could no longer issue asset-backed commercial paper because of a liquidity squeeze.
[Spreading out like an unwanted diarrhea blast that soils the underpants, huh, reader?
Oooooops, thought it was HOT FART MIST like this SHIT ECONOMY!!]
Coventree, in its third-quarter financial statement yesterday, said:
“The problems that initially seemed isolated to a few U.S. subprime mortgage lenders have led to broader concerns relating to debt capital markets generally, including the market for Canadian asset-backed commercial paper. Certain liquidity providers have advanced funding, some have disagreed that they have an obligation to fund, some are in discussions with the company, and some have not responded. There is no assurance that the liquidity providers will fund or be obligated to fund under the requisite liquidity agreements.”
[Translation: All the PROMISES we made you were BULLSHIT!]
