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Stock Market Crash! (merged) Pt. 9

Discussions about the economic and financial ramifications of PEAK OIL

Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Mon 23 Sep 2019, 14:10:49

1933
June 05
FDR takes United States off gold standard
On June 5, 1933, the United States went off the gold standard, a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.


Well Roc has got himself into a "stupid loop"! Order 6102 was ruled by a court as not legal. Gold was never made totally illegal for US citizens. They could hold up to 5 oz, or about $6,000 in present money.

There was a need to strengthen Executive Order 6102, as the one prosecution under the order was ruled invalid by federal judge John M. Woolsey, on the grounds that the order was signed by the President, not the Secretary of the Treasury as required.

https://en.wikipedia.org/wiki/Executive_Order_6102

When did the U.S. go off the Gold Standard?

The short answer to the question of when the US abandoned the Gold Standard is…1971.


In 1946, the Bretton Woods System was enacted. Under this system, there was a system of fixed exchange rates that allowed other governments to sell their gold to the United States. The price was set at an incredible $35 an ounce.
The end of the gold standard came in 1971, when President Richard Nixon ended this practice. All formal links between major world currencies and actual commodities were broken with this change.

https://owninggold.com/gold-standard/

Billionaire Hedge Fund Manager Paul Singer Hedges Against Upcoming Market Crash

Billionaire hedge fund manager Paul Singer is the founder & CEO of Elliott Management. Singer is preparing to raise additional funds from investors to build up a war chest of cash to spend on new opportunities, as he anticipates a market downturn could be imminent, reported the Financial Times.
Elliott Management, a $38.3 billion activist fund, has spent the summer months stockpiling cash, closed a $2 billion co-investment fund in August to take companies private.

https://www.zerohedge.com/economics/bil ... rket-crash

It is about to begin, and it will be a one way trip. The oil age is ending.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby rockdoc123 » Mon 23 Sep 2019, 14:47:17

Well Roc has got himself into a "stupid loop"!


well, I guess you better inform the History Channel that they don't know.....history.

But keep trying to re-write history, maybe you can throw in a spurious correlation or two. :roll:
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Outcast_Searcher » Mon 23 Sep 2019, 14:51:57

shortonoil wrote: The oil age is ending.

Speaking of "stupid loop" (which you just accused rockdoc of), when you say the oil age is ending, again and again, month after month, year after year, and yet, in the real world, global oil production trends up over time and there is no objective evidence that's about to end -- that doesn't exactly make you intelligent.

And the groups who make credible moderate term estimates like the EIA and IEA, and use actual science and economics expertise to make those projections completely disagree with your claims as well.

But I know, you can "fix" that with a spate of name calling akin to a small child, as you're prone to do.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Mon 23 Sep 2019, 14:55:58

Silver up nearly 4% today.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Tue 24 Sep 2019, 08:28:49

shortonoil wrote: The oil age is ending


The world is now irreversibly, absolutely bankrupt. The next, and last great world wide depression is now only months away. The world is environmentally, economically, and thermodynamically bankrupt. We are now in the twilight of this civilization.
Image
Silver up nearly 4% today.


Not surprising.

I have about 100 lbs of the stuff. I used to buy 50/50 silver solder from my oil employer for $1 a pound. It was the scrap ends of 2 lb bars for soldering the leads in 30 thousand horse power electric motors. I wish now that I have bought a ton of it.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Tue 24 Sep 2019, 08:57:12

Fed's Term Repo 2x Oversubscribed As Banks Brace For Quarter End Funding Shortage
The NY Fed's first term repo operation in over a decade, which has a 14 day term and thus captures the liquidity-draining quarter end period, has just concluded, and it confirmed that banks are hunkering down ahead of quarter-end, by tendering some $62BN in securities for the $30BN operation, making it more than 2x oversubscribed.

https://www.zerohedge.com/markets/feds- ... g-shortage

With $331 trillion in debt on the world's books ($450,000 per man, woman, and child) who could be solvent enough to be in a position to borrow money? These must be no doc loans?
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby asg70 » Tue 24 Sep 2019, 09:32:24

Armageddon wrote:Silver up nearly 4% today.


Image

HALL OF SHAME:
-Short welched on a bet and should be shunned.
-Frequent-flyers should not cry crocodile-tears over climate-change.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Outcast_Searcher » Tue 24 Sep 2019, 14:41:51

Armageddon wrote:Silver up nearly 4% today.


Silver was down about .2% today. (Does that make it a "crash")?

Given the accuracy of your stock market predictions (or rather lack thereof) and the title of this thread, why aren't you posting the stock market returns every day? Because in your mind, only meaningless cherry picking matters?
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Outcast_Searcher » Tue 24 Sep 2019, 14:46:06

shortonoil wrote: The world is environmentally, economically, and thermodynamically bankrupt. We are now in the twilight of this civilization.

Wrong as per usual, especially re the thermodynamically part.

You see, as long as the sun is burning (it will be around for awhile), there's plenty of energy to capture, even if it is in things like wind and solar and geothermal and waves instead of in oil.

But of course, there's plenty of oil, and despite the failed ETP Bozo's theories, it sells at a price billions of customers find a good deal, and thus use it (re products derived from it).

Why not try getting something right FOR A CHANGE, and settling the bet you lost?
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Tue 24 Sep 2019, 15:58:57

Why not try getting something right FOR A CHANGE, and settling the bet you lost?


Did I hear skittles falling from under a Unicorn tail? OR, was that cries of help from the last survivor? Lessen learned! If you buy a time machine; make sure that it wasn't made in China, or Arkansas. His Wayback Machine must also be getting a little rusty.

Now back to our regularly scheduled broad cast - Oil is down! So the Saudi must have discovered 5.7 mb/d in the truck of some Royal Mercedes? Maybe Tulsi had something to say, and that was, "US service men are sick and tired of getting their asses shot off for some some Royal dipshit. We are getting out of the save a tyrant business".

The price of oil barely moved today. The market just told OPEC to take a hike. I am sure the military researched this well before they took action. Israel is not allowed to nuke anyone without their permission. It would be in breach of contract!!

Trouble, what trouble??
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Pops » Tue 24 Sep 2019, 16:46:23

Liquidity is drying up as Uncle Sugar borrows to pay for .1%ers tax windfall.
Fed again propping up banks to the tune of 400B

“Instead of just an overnight where we’re posting collateral for just one night on something, there’s apparently assets out there that no one wants to lend on for 14 days … I don’t know what’s being posted, but there are banks looking at this stuff and saying, I’m not sure if I’m going to get my money back in two weeks. It’s a cause for concern,” Tobik said.


You may remember this market froze entirely causing the crash of 09 because no one wanted to lend into it.

https://fortune.com/2019/09/23/repo-mar ... unnerving/
or google repo market
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Tue 24 Sep 2019, 18:43:09

U.S. consumer confidence fell more than forecast in September as Americans’ expectations for the economy and the job market deteriorated

They haven’t seen anything yet. Wait until they start hearing about the FED intervention in the coming months.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Tue 24 Sep 2019, 18:46:21

One Of Boeing's Top Buyers In India Said To Be Considering A 100-Jet Airbus Deal

I’m sure that’s good for the US economy. I’m sure Boeing will need bailed out down the road
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Outcast_Searcher » Wed 25 Sep 2019, 00:03:39

Armageddon wrote:One Of Boeing's Top Buyers In India Said To Be Considering A 100-Jet Airbus Deal

I’m sure that’s good for the US economy. I’m sure Boeing will need bailed out down the road

Heaven forbid any US company not get some international order. Congrats. You've proven it. Doom for SURE. :roll:
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby marmico » Wed 25 Sep 2019, 05:01:45

but there are banks looking at this stuff and saying, I’m not sure if I’m going to get my money back in two weeks. It’s a cause for concern,” Tobik said.


What a pile of crap. The collateral put to the FED by a primary dealer for the overnight or 14 day repo is US government guaranteed - treasuries, agency or agency backed mortgages.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Wed 25 Sep 2019, 07:55:22

What a pile of crap. The collateral put to the FED by a primary dealer for the overnight or 14 day repo is US government guaranteed - treasuries, agency or agency backed mortgages.


It is not the primary dealers that are the problem. It is banks who are putting up MBS, hog wash CLO, and other trash left over that no one ever wanted. The reason they are doing that is because they want to pay 10% rates instead of 2?? Sure! Then again we understand that you are still working on the basics:
Image

With $331 trillion in world debt floating around there is not much high quality collateral remaining. US Treasuries are just the cleanest dirty shirt in the laundry. It is not like the US government could pay off its debt without a wrinkle. If 5% of US government debt came back for collection, the lights would go off at the WH. The US is broke, and the rest of the world is broker. What is happening to the banks will be happening on Main Street very soon. Toxic sludge moves downhill at an accelerating rate. All the crap out there is suspended in a field. The gravity type, not the baseball one.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Wed 25 Sep 2019, 09:39:19

Outcast_Searcher wrote:
Armageddon wrote:One Of Boeing's Top Buyers In India Said To Be Considering A 100-Jet Airbus Deal

I’m sure that’s good for the US economy. I’m sure Boeing will need bailed out down the road

Heaven forbid any US company not get some international order. Congrats. You've proven it. Doom for SURE. :roll:



You’ll be saying that when the FED is bailing out Boeing with more billions. But who cares, it’s only money, right?
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby StarvingLion » Wed 25 Sep 2019, 11:21:30

Now they'll steal from bank accounts from the dozen or so left who actually have something more than $500 in the "bank".

Washingdumb is so broke it can't afford the gas to run the tanks to protect the capitol.

I have reports that Cog, The Rockspam, and Carnot were last seen in New Zealand with other CRIMS.
Cog's brain was in a jar left open and maggots ate it.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby StarvingLion » Wed 25 Sep 2019, 11:56:19

TOTAL COLLAPSE UPDATE:

The worthless junk stores in my Coal Town are increasing business hours late into the night. HAHAHAHAHAHA....there is nobody in the stores but thats okay its just a fucking dream of these worthless sacks of shit at the federal "reserve".

Meanwhile, the wothless shit local banks are asking questions if you take out too much "money".

Very soon, that fucking scam called The Progress Hoax will be revealed: What yuou worthless sacks of shits called lawyers, doctors and bankers and scientists can't pisss Diesel Fuel...thenz your worthless eddgeUKation aint worht a fucking gold rock.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby StarvingLion » Wed 25 Sep 2019, 12:00:29

Look, The Fake Price of Oil is Collapsing Again.

I guess this shit scam of worthless fuckers can't afford oil at anything more than $1.

Keep waving your worthless diplomas from the university scummers.

America is just a big fucking Slum with Slum Lords at the "Federal" "Rssdrever"
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