My apology, in advance, to those of you who were logging in today hoping to find a post on a Treasure that I pass along, such as beautiful Wakaya Island.
Today marks the 13th anniversary of "Black Monday" when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong, spread west through international time zones to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) dropped by 508 points to 1738.74 (22.61%).
The recent "flash crash" that caused a similar drop in stock prices, and the increasing number of Sovereign Nations on the brink of bankruptcy make the likelihood of another market meltdown occurring, very real.
I have a report, dated August 2005, written by a Canadian Asset Management firm that I keep handy whenever I talk to others about how our government has surreptitiously intervened into our stock market, and our entire financial system since the 1987 crash, largely through it's shadowy and privately owed Federal Reserve System.
Leave it to the Canadians (a bulwark of sensibility and straightforwardness) to tell the world the truth about what our leaders have been doing for over two decades of free market manipulation.
If any of you are interested in a copy, please contact me.
Although I no longer have a direct affiliation with a Private Wealth organization, I can certainly refer you to a trusted Financial Advisor who understands the risk of another meltdown and can help you prepare for the next shock wave that will inevitably occur.
Showing posts with label Capital Markets. Show all posts
Showing posts with label Capital Markets. Show all posts
Tuesday, October 19, 2010
Wednesday, March 11, 2009
It's "Tick" Season
I attended an event hosted by UBS Private Wealth on Monday that featured a discussion with their Chief Lobbyist, John Savercool. He offered some very well-formed thoughts on where this current administration was focused in terms of programs and legislation. One of the things he mentioned was the possible re-institution of the "uptick" rule, and a suspension of the "mark-to-market" accounting rules that have forced so many Banks to write off huge numbers of non-performing loans.
While the Market responded favorably to these potential changes, there are still a huge number of debt-related issues on the table. Yes, consumer debt - primarily credit card debt - actually rose last month after contracting for almost three. But this is not necessarily a good thing. Perhaps you have noticed, as I have, that more and more people are using credit cards to pay for groceries and other consumables. This would stand to reason because once cash reserves or unemployment checks run out, this may be the only resort for the growing unemployed before they have to resort to food stamps.
Women of Wealth tend not to have these immediate concerns and hopefully you have received good advice from your current advisors and have a Plan of Action to support you during these difficult times. Still the debt that has been created through the liberalisation policies of the Federal Reserve for more than a decade will take a long time to work through - perhaps even decades to come.
Those of you that know me are aware of my distrust of the "Fractional Reserve" Banking system and its "pluck from air" creation of money with no backing (gold, silver, etc). Here is another take on the "quantitative easing" and "de-leveraging" of the banking system in a recent post by Jackie Zehner.
Bottom line is that, in my opinion, we should not be lured into a "sucker's rally" that has caused a temporary uptick in capital markets. Even though Citigroup reported profits for the first two months of this year, there are signs that more debt is about to default.
But don't just take my word for it. Pay a visit to your local supermarket and find out for yourself.
Until next post, continue to achieve, believe, receive. SDG - JBHIV
While the Market responded favorably to these potential changes, there are still a huge number of debt-related issues on the table. Yes, consumer debt - primarily credit card debt - actually rose last month after contracting for almost three. But this is not necessarily a good thing. Perhaps you have noticed, as I have, that more and more people are using credit cards to pay for groceries and other consumables. This would stand to reason because once cash reserves or unemployment checks run out, this may be the only resort for the growing unemployed before they have to resort to food stamps.
Women of Wealth tend not to have these immediate concerns and hopefully you have received good advice from your current advisors and have a Plan of Action to support you during these difficult times. Still the debt that has been created through the liberalisation policies of the Federal Reserve for more than a decade will take a long time to work through - perhaps even decades to come.
Those of you that know me are aware of my distrust of the "Fractional Reserve" Banking system and its "pluck from air" creation of money with no backing (gold, silver, etc). Here is another take on the "quantitative easing" and "de-leveraging" of the banking system in a recent post by Jackie Zehner.
Bottom line is that, in my opinion, we should not be lured into a "sucker's rally" that has caused a temporary uptick in capital markets. Even though Citigroup reported profits for the first two months of this year, there are signs that more debt is about to default.
But don't just take my word for it. Pay a visit to your local supermarket and find out for yourself.
Until next post, continue to achieve, believe, receive. SDG - JBHIV
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