With 30 minutes remaining in the session, the Dow is staring at a loss of more than 400 points, and has now erased all of its 2011 gains. Oil plunged, gold is lower by $12 an ounce and the yield on the 10-year Treasury has fallen to 2.45%. The Nasdaq Composite is off 109 points, or 4.1%.
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2 comments:
A falling yield on Treasuries makes me think that people who previously held stocks changed their preference to Treasuries. This is good - people believe that the US will pay their debts now.
The cost of oil and gold dropping denotes a rising value in the dollar. Again, a good sign.
Checking my theory, the dollar is up vs. the Euro (1.6%), the Yen (2.8%), the British Pound (1.1%), and even the Canadian Dollar (1%).
So while you are prophesizing gloom and doom based on today's stock selloff (and I am not disagreeing with you), I would take today's overall picture to be very positive since it is an indication that people are preferring the dollar once again.
Preferring the dollar?
Currency prices (relative to each other) are manipulated by Global Bankers of whom the secret Federal Reserve is a member.
The stock market likewise is a rigged game - gambling.
It will be used as an excuse for QE3 - more counterfeiting of our money by the sleazy Federal Reserve.
I recommend people get out of the dollar entirely. It will collapse sooner or later as it is being printed into oblivion. The U.S. Dollar status as reserve currency will end very soon. Muslim Nations do not want it and are willing to face these invasions as a consequence of refusing to sell oil for dollars.
Invest in commodities. We will see MASSIVE inflation soon.
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