 |
 |
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
|
|||
 |
|||
|
|||
 |
|||
|
Global Markets Tumble Over Bear Stearns Bailout
- Text size
TOBY ANDERSON
Associated Press
March 17, 2008
Global markets plunged Monday on news that JPMorgan Chase, backed by the U.S. government, had to rescue troubled Bear Stearns and investors struggled to gauge how much worse financial markets could get.
“Its difficult to call where the bottom is,” said Richard Hunter, a broker at Hargreaves Lansdown in London.
Oil prices hit a record in Asian trading, U.S. stock index futures fell sharply and the dollar hit record lows.
JPMorgan said Sunday it would buy Bear Stearns for $236.2 million — $2 a share — in a stunning fall for one of the world’s largest and most venerable investment banks. The bank was dragged down by its exposure to bad mortgages, the same burden that has led to more than $150 billion in write-downs worldwide.
The Bank of England on Monday offered an extra 5 billion pounds — around $10.1 billion — of reserves for short-term money markets because of the dire conditions.
|
|
|
|
|
The U.K.’s benchmark FTSE 100 dipped 2.5 percent to 5,493.8 while France’s CAC 40 slid 2.7 percent to 4,473.39. Germany’s DAX slipped 3.4 percent. Financials were especially hard hit, with Switzerland’s UBS down 14.5 percent.
The head of the International Monetary Fund said Monday that the global financial crisis is more serious and more widespread than even a few weeks ago.
The “economic environment is still worsening,” said Dominique Strauss-Kahn.
Strauss-Kahn urged a global response, though he said central banks have been handling the crisis well.
Investors, however, were stunned by the latest bout of very bad news from Wall Street.
| WATCH ALEX JONES’ ENDGAME ONLINE NOW in its entirety. View more High quality trailers at www.endgamethemovie.com |
-
- Social bookmarks
- Email this article
-
- Print this page
- Share on Twitter
March 17th, 2008 at 7:11 am
My family have decided to forgo on buying an alternative supplement store business, and instead put all our investments into gold and silver. We are even thinking of using some equity on our house to buy gold and silver….
March 17th, 2008 at 9:02 am
I would like people’s opinions (especially AJ’s on air if he reads this) on the documentary “The Money Masters: How International Bankers Gained Control of America” and its solution for getting out of the Federal Reserve. It states that going back on a gold standard is NOT the answer because the bankers have all the gold (to paraphrase). It’s a 3 and a half hour detailed history of banking and the bankers. A must-see!
Thanks,
R.
March 17th, 2008 at 9:08 am
Gold has little pragmatic value outside of electronics and jewelry. I wouldn’t sell you bread for gold. But for bullets maybe so. Or guns or informational books we could work out a deal. Or other resources that can keep me warm or fed or clothed or offer protection. But gold is worthless without a civil society. It’s a fiat currency no matter what alex’s radio show owner tells you.
March 17th, 2008 at 9:21 am
Gold is worthless without a civil society ? That depends on your definition of a uncivil society doesn’t it ? Gold will always be valueable. People buy gold for security and or investment.
March 17th, 2008 at 9:40 am
FYI, That documentary doesn’t say that a gold standard is a bad thing per se, it just isn’t the answer to the present U.S. situation. There have been big downs while the dollar was backed by gold (mind you, the Fed was part of the equation), so that’s evidence that gold isn’t infallible. It suggests that the government start printing its own bills (like greenbacks) instead of bonds. To lessen the burden on society, banks would have to slowly raise it’s reserves from being a Fraction Reserve system to a 100% reserve system. When they get to that point, there’ll be no need for the Fed, so the Act can be repealed and the government will be in control of the money system with no debt. Again, this is a very simplified synopsis of what the documentary suggests.
I wish I could explain it better. Check that documentary out!
March 17th, 2008 at 9:43 am
No people buy gold cause they are irrational. Gold is pretty and doesn’t oxidize too much. It doesn’t feed me or clothe me or protect me. It only allows me to trade it to idiots for things of value. Here give me a fur and I will give you shiny beads. It’s so pretty and shiny. Look at the way it captures the light. and the light-headed.
March 17th, 2008 at 9:46 am
Next thing you know President Bush enacts the Gold Act like Theadore Roosevelt during the great Depression of 1934
Gold Act wil save us .
March 17th, 2008 at 1:09 pm
Where will you go to buy GOLD….
March 17th, 2008 at 1:14 pm
NOT EVERYONE CAN AFFORD GOLD!!!
March 17th, 2008 at 1:16 pm
Almost everyone can afford silver. 1 round, about $20.
March 17th, 2008 at 1:20 pm
Always look through your change. Quarters and dimes before 1965 contain the most silver.
March 17th, 2008 at 1:21 pm
Which is the better thing to buy, gold or silver?
March 17th, 2008 at 2:16 pm
Bob Says:
March 17th, 2008 at 9:46 am
Next thing you know President Bush enacts the Gold Act like Theadore Roosevelt during the great Depression of 1934
Gold Act wil save us .
Bob ,I think you mean Franklin Roosevelt (FDR) and the measure you’re talking about outlawed the private ownership of gold.
March 17th, 2008 at 2:19 pm
Reading these comments got me to wondering:
When people here talk about “buying gold” are they buying actual, tangible gold, or are they talking about buying a promise from some bank that some number they are given represents gold somewhere (like on the stock market). It seems to me that nothing but the tangible form would actually be worth anything. What good is your gold if someone else is holding it when TSHTF? If you are buying actual gold then where is the right place to store it? Safe deposit box (again, trusting a bank)? Or in a treasure chest with an accompanied treasure map? (Arrrrr!)
March 17th, 2008 at 3:37 pm
Wert, the best metals to buy in which you have tangible,physical ownership is, lead and copper, the bartering currancy of the near future.
March 17th, 2008 at 3:44 pm
fred when this goes down, there will be riots , the power is gonna go out for sure.
there is billions of dollars of copper in the power lines, when it starts and it goes out, I’m going shopping for power lnes.
March 17th, 2008 at 3:50 pm
Yea, that ain’t the variety of copper I was refering to.
March 17th, 2008 at 8:33 pm
It’s all going down!!!
March 18th, 2008 at 5:39 am
One thing you could do and it will mean some trillionaires will need to be brought down to billionaire status and billionaires will be brought down to millionaire status. They have experienced the good life at the expense of others. Its now time to humble themselves like TRUE ILLUMINATED ones and sacrafice.
Forgive everyones credit card debt. Everyone that owes on credit cards is zeroed out. That will buy enough time to make adjustments and tweaks to jumpstart or re engineer things.
People are dying trying to pay off their credit card debts and are barely spending anymore. You say if we did this it would tank the economy even more and we will be back in the same position down the road. I disagree
March 18th, 2008 at 4:55 pm
When the value of the dollar is based upon consumer index pricing and when our dollar is backed by debt that gets called credit, the real backing of our currency “slavery”
It works like this. When laws are passed making it impossible for debters to declare bankruptcy, it means their debt is guaranteed to be paid, which technically makes it a long term investment for banksters to harvest, which can then be technically referred to as a credit, which is then counted as collateral by the banksters. Wallah, this is how money is generated out of thin air, without any solid backing behind it.
When currency is minted under these false pretenses, it reduces the value of everyone’s savings by an amount equal to the false prestense money that has been printed. If they print 100 billion, then the sum total purchasing power of all dollars becomes 100 billion less through an inflationary process. This is how fiat money works, plain and simple. When this is done slowly over time, everyone eventually lives close to the bone, eventually becomes a borrower and debtor, to a new form of currency backed by slavery.
Because no one can remain free and independent when this type of currency is used, everyone becomes a slave and is only worth the work they can perform each day and everyone is always broke at the end of each day. This is what happens without sound money backed by gold, silver or some other solid and tangeable collateral. And because of how it works, it does not matter where one saves their money, which bank, which account, none of it matters.
Our founding fathers knew and understood this and that’s the EXACT reason our Constitution forbids forms of currency that are not backed by either gold or silver. Look at it this way, gold and silver has kept even with crude oil, gas, meat, wheat, medical costs and every other hard commodity out there. In fact, gold and silver have not gone up at all, but rather paper money when it has no solid backing, has become worth less by approximately 50% since the year 2000.
But, this fact can be hidden if we hire enough illegal immigrants to work for penny wages, buy cheap imports from Wally World and set the value of the dollar according to the consumer pricing index(CPI). This is really just a way to play with numbers and crop the data, and outright lie to Americans about the value of their hard earnings and life savings, which now amounts to about 4 cents on the dollar. I said four(4) cents/pennys! Back in the 1960’s, it was 40 cents of gold bullion backing each dollar and has been tanking down ever since, with the last drop off during this administration.
If you really want to invest in the future, buy into slave markets off shore, put your fellow Americans in the poor house and buy Wally until you can buy no more when you’re finally broke. But don’t woory about it, because Homeland Security will be there to rescue you with bottled water, if they can find it.
March 19th, 2008 at 8:28 pm
fellow members,
A while back, about mid February, I had a phone conversation, in which a well placed friend of mine was telling me that a former electrical engineer, cum economist, had prophesied, that within 6 weeks, we’d see J.P. Morgan/Chase file for bankruptcy. That blew my mind, but not really, ‘cuz I knew what kind of exposure to the derivatives bubble that bank had. In addition, as some of you may recall, Michael Ruppert, in his video, ‘Truth & Lies of 9-11′, had told us to watch for that – and THAT was taped in Nov. of ‘01!
Now apparently, a close rival, Bear Stearns is on life support. But guess who’s feeding the I.V. drip? That’s right, J.P. Morgan/Chase.
The average schmuck would look at this like it’s Bear Stearns that’s in trouble, and they’d be right. But what they don’t know is what our economist friend knows about J.P. Morgan/Chase. They also don’t know the funny part in the document I’ve attached to this, because they aren’t aware of the inner workings of the Federal Reserve system. The funny part was where ‘the Fed’ declines to answer why Bear’s rival, J.P. Morgan/Chase, was selected as the intermediary for the bailout funds. Well gee whiz whilligers, golly gee, you don’t suppose it has something to do with that bank being the flagship bank of the whole Federal Reserve system, do you? And since Rocky’s owned the bank since it’s inception PLUS having his stooges on the board at HIS Reserve, you don’t suppose that would also have anything to do with it, do you?
So here’s my take on the whole thing. Again, it’s just speculation and conjecture on my part, so I’ll give you what I know first. Maybe that will show you where I’m coming from on this concept. You’ve gotta set the wayback machine to the early ’90’s, and I’d just started to get The Spotlight newspaper. In one of them, there was a story of how Clinton had bailed out the Wall St. gazillionaires who’d lost their shirts investing in Mexico. It should’ve been – hey, you rolled the bones. If they came up snakes, oh well. Guess you shouldn’t have bet so much, and sucks to be you, and hostile lasagna, right?
Wrong. We all know who those Wall St. types were, and maybe, just maybe, they’d been the same ones who’d given big bad Billy the nod for the oval office when he was then unknown governor of Arkansas at the Bildeberger meeting held in Baaden Baaden, Germany, in ‘91. So Clinton unveiled a $20 billion dollar bailout of ‘Mexico’s economy’. Funny thing about that. It was the same Chase Manhattan that was given the nod as the conduit for those funds. Even funnier was the fact that the Chase, rather than ‘chase’ the large on that money, kept $5 billion of it in it’s vaults! That’s right – it never left. They took their ’slice’ right off the top! And that ’slice’ was 25%! Pretty stiff ‘fee’.
So, on that train of thought, can you think of a better way to bolster their own financial base, than by skimming straight off the conduit, on it’s way to Bear Stearns? And just like that, they solve their own insolvency, without the general public knowing what’s going on. Don’t forget, banks don’t have to disclose their assets or liabilities, just like the Queen of jolly old blighty, so who’s to know?
However, we WILL know that that’s what happened if they DON’T declare bankruptcy between now and the end of this month, right? Right.
When the sum aggregate total of the Fed can’t dig out J.P. Morgan/Chase, it’s all over but the cryin’. So you wanna believe, I’m gonna keep on watching this – CLOSELY!
March 19th, 2008 at 8:38 pm
Rhonda, thanks for that info! I love well written, important info from people who know what they’re talking about. This doesn’t look good for the nation, but most of saw this coming for quite a while, I’d think. Not the exact details, such as you’ve provided, but the fact the country is heading for disaster. I look forward to seeing more from you. God bless you!
March 19th, 2008 at 9:28 pm
Jess C. James,
So we meet here now. Interesting. I was just complimenting you in another area over what you said to Mr. Williams about Alex (Remember, never use his last name with his first here becaue it gets automatically deleted for some reason that might have to do with what you were suggesting in the area, surprisingly enough). Thank you for your acknowledgement of what I said in your comment #22 here. I am surprised that you took the time to read it all. That is gallant of you. Of course it is conjecture, but the evidence says it is not. It also shows that subliminal activity right out in the open at times does its job quite well. We will see. Keep up the good fight yourself.
Now back to my “fan” mail for me. I have a reputation of at least reading everyone who writes to me even if I cannot find the time to reply to them all. Later.
Rhonda
PS: This is comment number 23