World money system imploding right now ? - GoFuckYourself.com

spunkmaster · 02-16-2009, 11:15 PM

An unwind is taking form right now, this minute, (9:10PM ET) that may or may not be contained by international Central Bank action.

Even if central Europe does not financially implode the world money system today, it is just around the corner.

There are so many risks threatening us now that survival of any monetary status quo is doubtful.

Protect yourself.

It has hit the fan, right now, and all that is thanks to OTC derivative manufacturers and distributors.

http://www.jsmineset.com

INever · 02-16-2009, 11:16 PM

Does this mean no joins?

JD · 02-16-2009, 11:21 PM

Quote:

Originally Posted by INever

Does this mean no joins?

means "no food"

tony286 · 02-16-2009, 11:21 PM

that would be scary.

INever · 02-16-2009, 11:22 PM

so one can eat ass or eat grass.

spunkmaster · 02-16-2009, 11:27 PM

Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.

Ethersync · 02-16-2009, 11:31 PM

I've been following this all night too. Eastern Europe is about to explode and take Western Europe with it. Last year Bernanke (illegally) opened swap lines with all these other central banks around the world (they pull out dollars automatically as needed) and that means if Europe goes down we go down too in the US.

Everyone is waiting for the European markets to open to see if the Euro continues to crash or if this crisis is contained for today (it will hit us).

Seriously, pull out some cash people. We could be seeing forced bank holidays soon which means you will, if the banks are closed, be stuck with limited debit card withdrawals only soon.

tony286 · 02-16-2009, 11:31 PM

do you have a url? There is nothing on bloomberg about it so far.

INever · 02-16-2009, 11:36 PM

At http://uk.finance.yahoo.com/ it shows FTSE is down around 1.5%, nothing too dramatic. Do you have a link to the unwind?...wait, isn't WANTING dollars good for the US (and world) economy? We're supposed to be preventing the dollar form being DUMPED, ne?

Ethersync · 02-16-2009, 11:38 PM

Quote:

Originally Posted by tony404

do you have a url? There is nothing on bloomberg about it so far.

A few links here...

Quote:

RED ALERT: FX Dislocation In Process - Updated (11:47 PM)

8:17 CT

I do not know what is going on here, and I don't think I want to.

Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.

It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.

At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.

There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not "automatic selling"; this is forced liquidation.

Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."

The worse news is that if this happens Bernanke will have killed us (in the US) by extending those swap lines all over the planet during the last six months. These will become utterly uncollectable and they are massive, in the many hundreds of billions of dollars.

To those who are reading this, I hope if you're in the markets you are prepared for extreme levels of violence. You must expect that the authorities will try to arrest the destruction if they are able, but you must also be prepared for the possibility that we have reached a "critical mass" point beyond which "duck and cover" is the only winning strategy.

Unfortunately.

I hope I'm wrong; this is going to be a long night.

http://market-ticker.org/archives/80...n-Process.html

Quote:

An unwind is taking form right now, this minute, (9:10PM ET) that may or may not be contained by international Central Bank action.

Even if central Europe does not financially implode the world money system today, it is just around the corner.

There are so many risks threatening us now that survival of any monetary status quo is doubtful.

Protect yourself.

It has hit the fan, right now, and all that is thanks to OTC derivative manufacturers and distributors.

Respectfully yours,
Jim

http://www.jsmineset.com/

Ethersync · 02-16-2009, 11:41 PM

Quote:

Originally Posted by INever

At http://uk.finance.yahoo.com/ it shows FTSE is down around 1.5%, nothing too dramatic. Do you have a link to the unwind?...wait, isn't WANTING dollars good for the US (and world) economy? We're supposed to be preventing the dollar form being DUMPED, ne?

Wanting dollars is not a bad thing necessarily except that Bernanke has these damn swap lines which will drag us down with everyone else....

tony286 · 02-16-2009, 11:42 PM

is it on a real news source?

Barefootsies · 02-16-2009, 11:48 PM

Quote:

Originally Posted by tony404

is it on a real news source?

Ethersync · 02-16-2009, 11:53 PM

Quote:

Originally Posted by tony404

is it on a real news source?

The sources I gave you are far more reliable than "real" news sources. When there is a dislocation like this you can count on the mainstream news to show up late and cover the aftermath.

I sat here and watched the Euro, and most other major currencies, go nearly straight down to the dollar tonight. Europe is on the brink of going tits up. We will see in a few hours if this have this contained or not. This week is going to be scary.

Ethersync · 02-16-2009, 11:56 PM

Quote:

Eastern European currencies crumble as fears of debt crisis grow

Currencies have crumbled across Eastern Europe on mounting fears of a debt crisis as foreign creditors withdraw from the region.

Hungary?s forint fell to an all-time low on Monday, and Poland?s zloty slumped to the lowest in five years on plunging industrial output. Half of all loans to the private sector in Poland are in foreign currencies so borrowers face a severe debt shock after the 40pc fall of the zloty against the euro since August.

?We?re nearing the level were things could get out of hand,? said Hans Redeker, currency chief strategist at BNP Paribas.

The mushrooming crisis has already started to spill over into Germany's debt markets, lifting credit default swaps on German five-year bonds to a record 70 basis points. The gap between French and German CDS spreads has narrowed abruptly for the first time since the credit crisis began.

?Investors are beginning to ask whether Germany is going to have to pay for the rescue of Eastern and Central Europe,? he said.

A report by Moody?s released on Tuesday said the region?s banks were coming under severe stress as the property bust combines with a rising debt burden. ?Local currency depreciation is a major risk to East Europe banks,? it said.

There are contagion worries for Western banks that have lent $1.74 trillion (£1.22bn) to the ex-Soviet bloc -- split between $1 trillion in foreign loans and $700bn in local currency debt through subsidiaries.

Austria?s banks are the most exposed with the share of risk-weighted assets tied to the region reaching 54pc for Raffeisen and 38pc for Erste Bank. The exposure of Germany?s Bayern Bank is 48pc, Italy?s UniCredit is 45pc, and Swedbank is 29pc.

The region needs to roll over $400bn in foreign debts this year, equivalent to a third of total GDP, raising concerns that it may need a massive rescue programme from the International Monetary Fund and the European institutions.

Dominique Strauss-Kahn, the IMF?s chief, said he expected a ?second wave of countries to come knocking? after earlier bail-outs of Latvia, Hungary, Ukraine, and Belarus -- as well as Iceland and Pakistan. The fund is scrambing to raise more money to cover the possible eruption of major crises in several countries simultaneously. The Japanese have already agreed to supply an extra $200bn.

The European Bank for Reconstruction and Development says East Europe may need as much as ?400bn (£358bn) in help this year to refinance loans and inject fresh capital into the banking system. Austrian-led efforts to create to a pan-EU fighting fund to tackle the crisis early have garnered little support so far.

http://www.telegraph.co.uk/finance/f...isis-grow.html

spunkmaster · 02-16-2009, 11:57 PM

WoW what a mess !

tony286 · 02-16-2009, 11:57 PM

Quote:

Originally Posted by Ethersync

The sources I gave you are far more reliable than "real" news sources. When there is a dislocation like this you can count on the mainstream news to show up late and cover the aftermath.

I sat here and watched the Euro, and most other major currencies, go nearly straight down to the dollar tonight. Europe is on the brink of going tits up. We will see in a few hours if this have this contained or not. This week is going to be scary.

Bloomberg is true 24 hr financial news so if they dont pick it its not real until then.

DarkJedi · 02-16-2009, 11:58 PM

Ethersync · 02-16-2009, 11:59 PM

Quote:

Originally Posted by tony404

Bloomberg is true 24 hr financial news so if they dont pick it its not real until then.

Your ignorance never ceases to amaze me

BVF · 02-17-2009, 12:08 AM

Quote:

Originally Posted by tony404

Bloomberg is true 24 hr financial news so if they dont pick it its not real until then.

WOW!!!!!.....I can't believe you took the time out to not only type that shit but to actually hit submit.

dyna mo · 02-17-2009, 12:08 AM

it happened to iceland, i don't see why it couldn't happen to hungary, they've been in a shit storm financially for awhile now.

then it could easily domino through eu

tony286 · 02-17-2009, 12:11 AM

Quote:

Originally Posted by Ethersync

http://www.telegraph.co.uk/finance/f...isis-grow.html

Thank you just wanted a real news source. now we have one.

Ethersync · 02-17-2009, 12:13 AM

Quote:

Originally Posted by dyna mo

it happened to iceland, i don't see why it couldn't happen to hungary, they've been in a shit storm financially for awhile now.

then it could easily domino through eu

It's not only Hungary. It's Hungary, Austria, Ireland, Poland, Estonia, Latvia, Sweden, UK, Spain, Italy, Greece.... Europe is fucked folks. I've said it here countless times... And if Bernanke leaves these swap lines open the US is going down too.

pocketkangaroo · 02-17-2009, 12:17 AM

Can someone explain this in laymans terms for financial simpletons such as myself? Primarily what it means to us. =)

Ethersync · 02-17-2009, 12:43 AM

Quote:

Originally Posted by pocketkangaroo

Can someone explain this in laymans terms for financial simpletons such as myself? Primarily what it means to us. =)

It means we are at the beginning of Great Depression 2.0.

onwebcam · 02-17-2009, 01:15 AM

AgentCash · 02-17-2009, 02:55 AM

Sky still falling?

Yandros · 02-17-2009, 03:23 AM

Quote:

Originally Posted by AgentCash

Sky still falling?

If the sky is synonymous with the fractional reserve banking system, then yes.

The question is: how fast?

AlienQ - BANNED FOR LIFE · 02-17-2009, 03:27 AM

Oh noes world collapse! Financial Melt downs! Catastrophy, Anarchy! Hide your children!

If you live like me all this shit is just another day in the park...

J. Falcon · 02-17-2009, 03:47 AM

Quote:

Originally Posted by Davey Jones

Yandros · 02-17-2009, 03:48 AM

Quote:

Originally Posted by AlienQ

Oh noes world collapse! Financial Melt downs! Catastrophy, Anarchy! Hide your children!

If you live like me all this shit is just another day in the park...

So you live in a park?

Vendot · 02-17-2009, 03:50 AM

Does this explain why gold rallied this morning?

Vendot · 02-17-2009, 03:51 AM

Quote:

Originally Posted by Yandros

So you live in a park?

Ethersync · 02-17-2009, 07:27 AM

Quote:

Originally Posted by Vendot

Does this explain why gold rallied this morning?

Yes, it is exactly why.

The good news is things have settled down. There was clearly some sort of government intervention behind the scenes. The bad news is there has been no rebound after the intervention which is normally the case.

These are the currencies that got hit hard last night:

CZK
PLN
HUF
NZD
AUD
SEK
CAD
NOK
INR
EUR
BRL

CaptainHowdy · 02-17-2009, 07:39 AM

Revolution time?

BlackCrayon · 02-17-2009, 07:41 AM

Quote:

Originally Posted by Ethersync

Yes, it is exactly why.

The good news is things have settled down. There was clearly some sort of government intervention behind the scenes. The bad news is there has been no rebound after the intervention which is normally the case.

These are the currencies that got hit hard last night:

CZK
PLN
HUF
NZD
AUD
SEK
CAD
NOK
INR
EUR
BRL

I don't see much change in CAD. Only down about 2-3 cents from last week. Its pretty funny that this happened seeing as how everyone is predicting the dollar to fall.

ADL Colin · 02-17-2009, 07:48 AM

Quote:

Originally Posted by BlackCrayon

I don't see much change in CAD. Only down about 2-3 cents from last week. Its pretty funny that this happened seeing as how everyone is predicting the dollar to fall.

It seems a lot of people (especially on GFY!) did believe that but the "currency analysts" did pretty well with this one. And my man, Bill Gross! I remember him saying the Euro was overvalued at $1.60. Here is an article from July 2008.

------

Rising European interest rates have pushed the euro up nearly 35 percent against the dollar over the past three years, to a high of $1.60.

But a growing number of experts believe the economies of Europe will slump even further than the U.S., forcing the European Central Bank to reverse this month's interest-rate increase.

The euro will slip about 6.5 percent to $1.50 by year-end and then slide further to $1.45 by the middle of next year, according to the median of 37 currency analysts surveyed by Bloomberg News.

Gross, co-CEO of Pacific Investment Management Co. (Pimco), has turned bearish on the euro for the first time since the common European currency was created in 1999. Pimco runs the world's largest bond fund.

"We might have hit a point where the euro doesn't have a lot to stand on," Emanuele Ravano, co-head of European strategy for Pimco, tells Bloomberg.

"The euro is ultimately very overvalued. It could be quite a bit lower at some point over the next couple years."

Indeed, based on purchasing power parity, the euro is 30 percent overvalued against the dollar, according to the bond fund. Purchasing power parity means that $1 would buy the same amount of goods and services in the U.S. as its rate in euros would buy in Europe.

"When a currency gets between 25 and 30 percent overvalued, it tends" to revert to the mean, Ravano says. He says a euro drop to $1.5350 is in order.

The Economist's Big Mac Index, which measures purchasing power parity for the purchase of the McDonald's signature hamburger, points to the euro being 22 percent overvalued against the dollar.

As for economic growth, the 15 countries sharing the euro will produce an expansion of 1.4 percent next year, down from 1.7 percent in 2008, according to the median forecast of a Bloomberg survey.

The median U.S. estimate shows growth accelerating to 1.8 percent in 2009 from 1.5 percent this year.

French President Nicolas Sarkozy already has complained that the euro's strength is hurting European exports and could restrain economic growth. Exports from Germany, the continent's largest economy, plunged 3.2 percent in May, the most in four years.

"We're not far off the capitulation point for the euro," says Mitul Kotecha, head of foreign exchange research in London for the investment-banking unit of Credit Agricole.

He predicts the euro will drop to $1.52 by Sept. 30, and $1.45 by next April.

Falling European interest rates will drive the euro lower, experts say. The median forecast in a Bloomberg survey of economists suggests that the ECB will cut its key rate by 25 basis points to 4 percent by the middle of next year.

http://moneynews.newsmax.com/streett...17/113727.html

Agent 488 · 02-17-2009, 07:50 AM

anything happen?

ottyhotties · 02-17-2009, 08:28 AM

Dow down 270

Jon Clark - BANNED FOR LIFE · 02-17-2009, 08:47 AM

Quote:

Originally Posted by budsbabes

anything happen?

http://www.reuters.com/finance/markets

Ethersync · 02-17-2009, 10:03 AM

Austria is getting skull fucked today.

Agent 488 · 02-17-2009, 10:05 AM

shit happens.

http://cluborlov.blogspot.com/2009/0...practices.html

notime · 02-17-2009, 10:18 AM

Eric, Ice, can we still post hot chick pics on GFY when the whole world falls to shit ?

seeandsee · 02-17-2009, 10:25 AM

1 eur = 1.25648 usd

LiveDose · 02-17-2009, 10:28 AM

Everything will be fine...

ADL Colin · 02-17-2009, 10:48 AM

Quote:

Originally Posted by LiveDose

Everything will be fine...

Seen it all before ...

2012 · 02-17-2009, 11:56 AM

Quote:

Originally Posted by LiveDose

Everything will be fine...

Quote:

Originally Posted by ADL Colin

Seen it all before ...

yup yup okeedoke ...

Martin · 02-17-2009, 12:04 PM

Quote:

Originally Posted by INever

Does this mean no joins?

No No, everything is good. Joins haven't been better since are started tube advertising.

tranza · 02-17-2009, 12:21 PM

Quote:

Originally Posted by Yandros

If the sky is synonymous with the fractional reserve banking system, then yes.

The question is: how fast?

It's a good question...

ADL Colin · 02-17-2009, 12:32 PM

02-16-2009, 11:15 PM	#1
spunkmaster Confirmed User Join Date: Jan 2004 Posts: 2,052	World money system imploding right now ? An unwind is taking form right now, this minute, (9:10PM ET) that may or may not be contained by international Central Bank action. Even if central Europe does not financially implode the world money system today, it is just around the corner. There are so many risks threatening us now that survival of any monetary status quo is doubtful. Protect yourself. It has hit the fan, right now, and all that is thanks to OTC derivative manufacturers and distributors. http://www.jsmineset.com __________________

02-16-2009, 11:16 PM	#2
INever Confirmed User Join Date: Jan 2005 Location: .......in a niche, in orbit...... Posts: 3,613	Does this mean no joins? __________________ I love Camdough

02-16-2009, 11:22 PM	#5
INever Confirmed User Join Date: Jan 2005 Location: .......in a niche, in orbit...... Posts: 3,613	so one can eat ass or eat grass. __________________ I love Camdough

02-16-2009, 11:27 PM	#6
spunkmaster Confirmed User Join Date: Jan 2004 Posts: 2,052	Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading. __________________

02-16-2009, 11:36 PM	#9
INever Confirmed User Join Date: Jan 2005 Location: .......in a niche, in orbit...... Posts: 3,613	At http://uk.finance.yahoo.com/ it shows FTSE is down around 1.5%, nothing too dramatic. Do you have a link to the unwind?...wait, isn't WANTING dollars good for the US (and world) economy? We're supposed to be preventing the dollar form being DUMPED, ne? __________________ I love Camdough Last edited by INever; 02-16-2009 at 11:38 PM..

02-16-2009, 11:21 PM	#4
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	that would be scary.

02-16-2009, 11:31 PM	#7
Ethersync Confirmed User Join Date: Mar 2008 Location: London, Saint-Tropez, Bermuda, Moscow Posts: 5,289	I've been following this all night too. Eastern Europe is about to explode and take Western Europe with it. Last year Bernanke (illegally) opened swap lines with all these other central banks around the world (they pull out dollars automatically as needed) and that means if Europe goes down we go down too in the US. Everyone is waiting for the European markets to open to see if the Euro continues to crash or if this crisis is contained for today (it will hit us). Seriously, pull out some cash people. We could be seeing forced bank holidays soon which means you will, if the banks are closed, be stuck with limited debit card withdrawals only soon.

02-16-2009, 11:42 PM	#12
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	is it on a real news source?

02-16-2009, 11:57 PM	#16
spunkmaster Confirmed User Join Date: Jan 2004 Posts: 2,052	WoW what a mess ! __________________

02-16-2009, 11:58 PM	#18
DarkJedi No Refunds Issued. Industry Role: Join Date: Feb 2001 Location: GFY Posts: 28,300

02-17-2009, 12:08 AM	#21
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 65,352	it happened to iceland, i don't see why it couldn't happen to hungary, they've been in a shit storm financially for awhile now. then it could easily domino through eu

02-17-2009, 12:17 AM	#24
pocketkangaroo Confirmed User Join Date: Jan 2005 Location: Chicago, IL Posts: 8,452	Can someone explain this in laymans terms for financial simpletons such as myself? Primarily what it means to us. =)

02-17-2009, 01:15 AM	#26
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,673	__________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete.

02-17-2009, 02:55 AM	#27
AgentCash Confirmed User Join Date: Feb 2002 Posts: 720	Sky still falling?

02-17-2009, 03:27 AM	#29
AlienQ - BANNED FOR LIFE best designer on GFY Join Date: Mar 2003 Location: IALIEN.COM - High Definition Video and Photographic Productions -ICQ 78943384 Posts: 30,307	Oh noes world collapse! Financial Melt downs! Catastrophy, Anarchy! Hide your children! If you live like me all this shit is just another day in the park... __________________ NAKED HOSTING FTW!11 I'm On The INSANE PLAN $9.95/mo! \| The Alien Blog Adult News Worth Reading Updated Daily \| Content For Sale! 641 PICS 216 MINUTES OF VIDEO $350.00 \|ICQ: 78943384 \|

02-17-2009, 03:50 AM	#32
Vendot Confirmed User Industry Role: Join Date: May 2002 Location: Malaysia Posts: 3,376	Does this explain why gold rallied this morning?

02-17-2009, 07:39 AM	#35
CaptainHowdy Too lazy to set a custom title Industry Role: Join Date: Dec 2004 Location: Happy in the dark. Posts: 93,562	Revolution time?

02-17-2009, 07:50 AM	#38
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	anything happen?

02-17-2009, 08:28 AM	#39
ottyhotties Confirmed User Join Date: May 2005 Location: MI Posts: 188	Dow down 270

02-17-2009, 10:03 AM	#41
Ethersync Confirmed User Join Date: Mar 2008 Location: London, Saint-Tropez, Bermuda, Moscow Posts: 5,289	Austria is getting skull fucked today.

02-17-2009, 10:05 AM	#42
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	shit happens. http://cluborlov.blogspot.com/2009/0...practices.html

02-17-2009, 10:18 AM	#43
notime Confirmed User Industry Role: Join Date: Jun 2003 Location: cyberspace Posts: 8,021	Eric, Ice, can we still post hot chick pics on GFY when the whole world falls to shit ?

02-17-2009, 10:25 AM	#44
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	1 eur = 1.25648 usd __________________ BUY MY SIG - 50$/Year Contact here

02-17-2009, 10:28 AM	#45
LiveDose Show Yer Tits! Industry Role: Join Date: Feb 2002 Location: Somewhere Out there... Posts: 25,792	Everything will be fine... __________________ Scammer Alert: acer19 acer [email protected] [email protected] Money stolen using PayPal

02-17-2009, 12:32 PM	#50
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