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hisah
#3371 Posted : Sunday, March 24, 2013 7:37:53 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
http://dealbook.nytimes....trade-halts-operations/

Somehow Intrade.com went off just a few days before the Cyprus 'surprise'. But everyone says Cyprus is just a small piece of the euro pie. If so, why does EU hang on instead of letting it default and kick it out of the euro? Is Cyprus that small? Contagion won't happen. Really?
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Sunday, March 24, 2013 7:38 AM | Reason: Not specified
karanjakinuthia
#3372 Posted : Sunday, March 24, 2013 10:13:28 AM
Rank: Member

Joined: 11/13/2006
Posts: 551
Location: Nairobi
"When more of the people's sustenance is exacted through the form of taxation than is necessary to meet the just obligations of government and expenses of its economical administration, such exaction becomes ruthless extortion and a violation of the fundamental principles of a free government." - Grover Cleveland, December 1886

"France’s top private sector bosses could see their salaries capped under a bill being tabled by the Socialist government, in the latest high-profile move aimed at punishing the rich.

The measure came as President Francois Hollande seeks to woo back left-wing supporters who are angry at his focus on the deficit and debt reduction and failure to stem rising unemployment. Their disapproval has helped turn him into the most unpopular French president ever after 10 months in office..."

Read more:

http://business.financia...nce-private-sector-pay/

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karanjakinuthia
#3373 Posted : Sunday, March 24, 2013 10:41:24 AM
Rank: Member

Joined: 11/13/2006
Posts: 551
Location: Nairobi
@Hisah. Indeed, gold has rebounded off the lows around $1560 and the U.S. Dollar continues to defy the doomsday scenario by acting as a safe haven as it did in the 1930s.

Bitcoin is acting as a scrip or substitute paper money the same way the U.S. had Depression Scrips due to a shortage of paper currency in the 1930s. This was a direct result of the thousands of bank failures and hoarding of money.










Even the American Civil War of 1861 to 1865 caused a drastic shortage of coinage resulting in scrip issuance.



hisah wrote:
@KK - Have a look at this... Capital flight into bitcoin... Gold is has also rebounded after the hard selloff last month fuelled by Cyprus spanner in the works.

http://www.bloomberg.com...euro-for-bitcoins-.html


Quote:
Worried your government is going to take your savings? There's an app for that.

Actually, there's an entire currency: Bitcoin, an online-only currency based on a decentralized network. It's unregulated, hard to track and increasingly common. Since Sunday, downloads of three Bitcoin-related apps have surged on Spanish charts, Bloomberg Businessweek reports.

The interest in Bitcoin coincided with news that the Cyprus government planned to tax savings accounts as part of the country's bailout program. The value of the online currency increased more than 20 percent in the past two days to $64, according to the latest price information.

The downside is it's a currency that has experienced price fluctuations, occasional hacking and account thefts, and is a favorite for black-market transactions, including almost 2 million a month in illegal online drug purchases at the Silk Road marketplace. That some Europeans are investing savings in Bitcoin isn't exactly a sign of confidence in European banking.

According to a European Central Bank report published in October, increased demand for Bitcoin "could have a negative impact on the reputation of central banks," especially if the public perceives Bitcoin's rise is due to "a central bank not doing its job properly."
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Cde Monomotapa
#3374 Posted : Sunday, March 24, 2013 11:14:18 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
That hurried move by the Brit Government to stuff a plane full of Euros destined to appease its troops based in Cyprus, helped recall how at the height of #Casinonomics GoZ was moved to do the following -> Zimbabwe troops 'eat elephants' http://news.bbc.co.uk/2/hi/africa/7820885.stm
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hisah
#3375 Posted : Sunday, March 24, 2013 10:06:24 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
BRICs summit - http://www.brics5.co.za/
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3376 Posted : Monday, March 25, 2013 5:33:21 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The dutch subprime deleveraging/unwinding continues - http://www.macrobusiness...ches-economy-for-monday/
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3377 Posted : Monday, March 25, 2013 6:22:22 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
http://www.marketwatch.c...-23?mod=wsj_share_tweet

This week the Cyprus drama will be determined - bailout or default.

My trading the news strategy
- Bailout failure will see global stocks selloff then recover in a month's time for the next rally cycle. Think Greece crisis and US downgrade past events.
- Successful bailout will see global stocks rally only to selloff hard in a few weeks time.

From the look of things a successful bailout is the likely setup. Stocks are quite high and a catalyst is needed to present a discount window.

Btw April will likely be a sellside in both cases! Market discounts must come...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3378 Posted : Monday, March 25, 2013 6:54:24 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Bullion as collateral permitted by Bank of Russia - http://www.4-traders.com...red-with-gold-16558214/

Hmmm... The Banker takes bullion in Russia... Something changing here...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3379 Posted : Monday, March 25, 2013 7:29:28 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Cyprus bailout + positive headlines = Perfect trade setup for the trap - http://www.cnbc.com/id/100574390

When GS puts an overweight rating on something, shitty deals abound...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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youcan'tstopusnow
#3380 Posted : Monday, March 25, 2013 9:30:35 AM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Visiting, Tanzania, South
Africa and Republic of
Congo on his first trip
abroad as president
following a visit to Russia, Xi is expected to build on
expanding economic
relations that many Africans see as a healthy
counterbalance to the
influence of the West.
The agreements with
Tanzania included plans to co-develop a new port and industrial zone complex, a concessional loan for communications
infrastructure and an
interest free loan to the
Tanzanian government.
http://www.reuters.com/a...0CG0KV20130324?irpc=932
GOD BLESS YOUR LIFE
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