Email #1:
'A large Chinese bank just last night ran out of liquidity and was bailed out by the government. Furthermore: "The seven-day repo rate, the benchmark rate for funding costs between banks, surged to 12.33% Thursday afternoon from the 8.26% rate at Wednesday's close. It had averaged around 3.30% this year before the liquidity crunch began at the end of last month." This is the same phenomenon that occurred globally in September 2008.'
Email #2:
'The U.S. market has DECLINED over the past month, the Japanese stock market has recently dropped 20%, the U.S. bond market sold-off, gold (GLD) is down 20% year-to-date (YTD), Chinese stocks (FXI) have fallen 19.69% YTD, emerging markets stocks (EEM) have depreciated 11.3% IN THE LAST MONTH, copper—a premiere asset considered to indicate growth or contraction, has contracted 18% YTD, etc... Investors should not ignore this massive deflation in global markets and assets.'
Well now a year ago I remember he said (having pencil and paper handy) the dollar would be dead and everything connected to paper would be worth the paper it is written on by December 1012. I have it word for word.
ReplyDeleteAnyone else remember that?
I am not denying it will happen but the timing was way off and I think I know why. The Elite thought the Middle East would be theirs by then however, it didn't happen and now Syria is not cooperating and giving them a hard time. Problems in Egypt also. Slowing things considerably.