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Rank: Member Joined: 11/13/2006 Posts: 551 Location: Nairobi
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@Hisah. Thank you, I read this story. Governments are desperate for cash and will jaw bone the banks that they bailed out in 2008 to stick to the Cyprus script. The IMF with their recommendation to confiscate 10% of European accounts are acting as political henchmen. Even Japan cannot help herself: http://www.scmp.com/news...ounts-raise-new-revenue
Capital is safe in few places. The stock markets are one safe haven. hisah wrote:@kk - Have you been following the withdrawal restrictions drama unfolding since a certain govt shutdown in Oct last yr? JPM then now HSBC... Cyprus bail in was a solid sneak preview. http://www.bbc.co.uk/news/business-25861717
Are bank runs about to pop up soon on a wide scale?
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Rand hits five-year low amid emerging market turmoil - http://news.yahoo.com/ra...-turmoil-135958610.html
Quote:South Africa's rand hit a fresh five year low on Monday as the currency came under sustained pressure amid a worldwide flight from emerging markets.
The South African unit, often seen as a bellwether for emerging market currencies, has been under pressure since the US Federal Reserve announced that it would trim back stimulus spending.
"The rand has now fallen by 25 percent against the dollar since last May," said Shilan Shah of Capital Economics.
South Africa has been dubbed one of the "Fragile Five" emerging economies which are struggling under a large current account deficit.
"There is clearly a danger that the rand falls much further over the coming months," said Shah.
The precipitous fall of the currency possess another headache for the South African Reserve Bank, which meets later this week.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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JPMorgan Technology VP Dies in Fall From London Headquarters - http://www.bloomberg.com...-office-police-say.html
Quote:A vice president in technology operations, Gabriel Magee, died after falling from JPMorgan Chase & Co. (JPM)’s London headquarters, the bank said today.
The 39-year-old fell from 25 Bank Street in the Canary Wharf area onto a ninth-floor roof, London’s Metropolitan Police said, having been called to the scene at 8:02 this morning.
Magee had worked for JPMorgan since 2004 in the corporate and investment bank’s technology support department, the New York-based lender said in a statement.
The 11-year-old skyscraper is 33 stories high, according to building-data provider Emporis. It was formerly the European headquarters of Lehman Brothers Holdings Inc., which filed for the largest bankruptcy in U.S. history in 2008. The police are not treating the death as suspicious and no arrests have been made. Accident at the morgue  **Markets hate confession** $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Billionaires Fuming Over Market Selloff That Sinks Magnit - http://www.bloomberg.com...f-russia-overnight.html
Quote:Magnit, Russia’s largest food retailer, is off to the worst start to a year since its 2008 listing in London while TCS has slid since a Nov. 15 report that Russia’s proposed ban on the sale of credit cards by mail would hurt its business. Analysts surveyed by Bloomberg predict record revenue for both companies even as Russia’s economy grows at the slowest pace since a 2009 recession.
Tinkov said he’s seen “a lot of stupidity, lack of logic and irrational behavior” since TCS was listed in London, according to comments posted on his Facebook account.
Billionaire rants... Welcome to volatility... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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This one will unravel just like its ccy (ZAR).  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@deal - since you a fun of JSE, hope you are defensive in this market. The circled point out classic upthrust that mark end of a rising trend - high vol spike as the top is set up. This is the monthly ETF for JSE. And it's been toppish since 2011?!?  As a hint, have a look at the gold market back in Aug 2011 during the all time highs... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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@hisah in that market...you buy Rand hedge stocks...there is this company called Steinhoff...they sell furnishers in Europe.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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U.S.-based emerging markets stock funds post $2.6 billion outflow - http://goo.gl/7MjsNY
Quote:Investors in funds based in the United States pulled $2.6 billion from emerging markets stock funds in the week ended January 29, marking their biggest net outflow since February 2011, data from Thomson Reuters' Lipper service showed on Thursday.
The turmoil in emerging markets also triggered outflows from U.S.-based emerging market bond funds of $606 million in the latest week, for the third consecutive week, Lipper added.
Investors in exchange-traded funds are thought to represent the institutional investor, including hedge funds.
Tjornehoj noted that it was the ETF investors who yanked the majority of their money from emerging markets equities, though "retail investors have been committing less to the sector. The headline risk is dominating the asset class."
Yep, proper sucker rally bull trap... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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This year as volatility spikes this movie will become relevant... I'm reminded of the quotes below... Quote:You're selling something that you know has no value? So that we may survive.
There are three ways of making a living in this business, be first, be smarter, or lie." $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Meanwhile in Zim: #155. MPS - 2014 "In this regard, we wish to advise exporters and the general transacting public that in addition to opening of accounts denominated in Botswana Pula, British Sterling Pound, Euro, South African Rand, United States Dollar, individuals and corporates can also open accounts denominated in the Australian Dollar (AUD), Chinese Yuan (CYN), Indian Rupee (INR) and Japanese Yen (JPY)." [Agro-Mineral Export base to reckon with] Zimbabwe's Central Bank adopts the Yuan among 3 other Asian currencies http://www.youtube.com/watch?v=PAgDaAtYWCQ
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Stocks slammed offical correction looms "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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A lot to be processed at the moment. There are the panic hammers & earnings season voting machines. Cloudy-overcast  Even C&G has been caught up here. Let's see. Night vision (money) goggles can be handy.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:JPMorgan Technology VP Dies in Fall From London Headquarters - http://www.bloomberg.com...-office-police-say.html
Quote:A vice president in technology operations, Gabriel Magee, died after falling from JPMorgan Chase & Co. (JPM)’s London headquarters, the bank said today.
The 39-year-old fell from 25 Bank Street in the Canary Wharf area onto a ninth-floor roof, London’s Metropolitan Police said, having been called to the scene at 8:02 this morning.
Magee had worked for JPMorgan since 2004 in the corporate and investment bank’s technology support department, the New York-based lender said in a statement.
The 11-year-old skyscraper is 33 stories high, according to building-data provider Emporis. It was formerly the European headquarters of Lehman Brothers Holdings Inc., which filed for the largest bankruptcy in U.S. history in 2008. The police are not treating the death as suspicious and no arrests have been made. Accident at the morgue **Markets hate confession** Within 6 days , 3 bankers dead...
Former Deutsche Bank executive found dead - http://goo.gl/BNrG0c
Former St. Louis Fed official found dead in Tacoma - http://goo.gl/GkLwRd
Quote: A former Deutsche Bank executive considered to be ''among the finest minds'' in his field has been found dead.
Bill Broeksmit, 58, died at his home in Chelsea, south west London, on January 26 and his death is not being treated as suspicious.
Quote:Russell Investments chief economist Mike Dueker was found dead Thursday, and police said it appeared he had taken his own life by jumping from a ramp near the Tacoma Narrows Bridge.
Meanwhile markets are tanking...
**Markets hate confessions**
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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hisah wrote:hisah wrote:JPMorgan Technology VP Dies in Fall From London Headquarters - http://www.bloomberg.com...-office-police-say.html
Quote:A vice president in technology operations, Gabriel Magee, died after falling from JPMorgan Chase & Co. (JPM)’s London headquarters, the bank said today.
The 39-year-old fell from 25 Bank Street in the Canary Wharf area onto a ninth-floor roof, London’s Metropolitan Police said, having been called to the scene at 8:02 this morning.
Magee had worked for JPMorgan since 2004 in the corporate and investment bank’s technology support department, the New York-based lender said in a statement.
The 11-year-old skyscraper is 33 stories high, according to building-data provider Emporis. It was formerly the European headquarters of Lehman Brothers Holdings Inc., which filed for the largest bankruptcy in U.S. history in 2008. The police are not treating the death as suspicious and no arrests have been made. Accident at the morgue **Markets hate confession** Within 6 days , 3 bankers dead...
Former Deutsche Bank executive found dead - http://goo.gl/BNrG0c
Former St. Louis Fed official found dead in Tacoma - http://goo.gl/GkLwRd
Quote: A former Deutsche Bank executive considered to be ''among the finest minds'' in his field has been found dead.
Bill Broeksmit, 58, died at his home in Chelsea, south west London, on January 26 and his death is not being treated as suspicious.
Quote:Russell Investments chief economist Mike Dueker was found dead Thursday, and police said it appeared he had taken his own life by jumping from a ramp near the Tacoma Narrows Bridge.
Meanwhile markets are tanking...
**Markets hate confessions**
Too much of a coincidence. What do they know? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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For those following the World wealth shift - In the headlines last week, Google sold off Motorola to Chinese giant Levono. China's number of billionaires hit record 168 billionaires in 2013 according to forbes "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley
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murchr wrote:For those following the World wealth shift - In the headlines last week, Google sold off Motorola to Chinese giant Levono. Good riddance. If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Mastermind wrote:murchr wrote:For those following the World wealth shift - In the headlines last week, Google sold off Motorola to Chinese giant Levono. Good riddance. And with this Google now wins the hardware fight for smartphones. The era of $500 plus smartphones and tablets is fast coming to an end. With android having cut out Apple's IOS using the free model, hardware OEMs will have to under price to survive. Nokia/Microsoft, Apple, blackberry etc will be forced into thin margins to stem the tide. If samsung sticks to its hardware only script, it too shall follow the above on the downside. Up next I expect Lenovo to unleash cheap smartphones with all features of those overpriced gadgets. The PC is now a cellphone... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Former US treasury official shares his views on why the emerging markets are taking it in the chin. Download the interview in mp3 format - http://www.kingworldnews...Paul_Craig_Roberts.html
**debasement or devaluation seems unavoidable from what I see. This thing called blackstone** $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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hisah wrote:Mastermind wrote:murchr wrote:For those following the World wealth shift - In the headlines last week, Google sold off Motorola to Chinese giant Levono. Good riddance. And with this Google now wins the hardware fight for smartphones. The era of $500 plus smartphones and tablets is fast coming to an end. With android having cut out Apple's IOS using the free model, hardware OEMs will have to under price to survive. Nokia/Microsoft, Apple, blackberry etc will be forced into thin margins to stem the tide. If samsung sticks to its hardware only script, it too shall follow the above on the downside. Up next I expect Lenovo to unleash cheap smartphones with all features of those overpriced gadgets. The PC is now a cellphone... They also bought IBM's Low end server business. The number 1 market for smart phones is China, so Lenovo is positioning itself, Its not so much about the hardware but the over 2000 patents that come with it. This will be interesting to watch, Apple on the other hand is really missing Steve. BBM is done "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Keep watching Europe...this week "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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