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<p><font color="#cc0000"><big>Alan Greenspan, once viewed as the
infallible architect of U.S.
prosperity, was called on the carpet yesterday, pilloried by a
congressional committee for decisions that contributed to the financial
crisis devastating world markets.
</big></font></p>
<font color="#cc0000"><big>The former chairman of the Federal Reserve
said the crisis had
shaken his very understanding of how markets work, and agreed that
certain financial derivatives should be regulated.<br>
"I made a mistake," Greenspan said, "in presuming that the
self-interests of organizations, specifically banks and others, were
such as that they were best capable of protecting their own
shareholders and their equity in the firms."
</big></font><br>
<u><i><b><br>
Marc's Notes:</b></i></u><br>
Finally the fool realizes what we have been telling you all along. His
policies were idiotic and he is an imbecile. Shaken the very
understanding on how markets work?<br>
You have got to be kidding me. Even high school econ students learn
about the damages of easy credit and bubble economies. And this idiot
was in charge of our Federal Reserve?<br>
He actually thought that banks would act in the interest of the
people? What a fool. Its no wonder we are in so much trouble now,
with a bozo like this in charge of our money.<br>
<br>
I just had to share this gem this morning.<span class="moz-smiley-s10"><span>
>:o </span></span><br>
<br>
Markets are down hard and the FEDS are in there buying LIKE CRAZY
trying to stop an all out meltdown. No one BUT the FED would be stupid
enough to be buying in front of this freight train, so it is them that
is supporting what little support there is today.<br>
<br>
The YEN is way up today, our other currencies are down. This is why we
hold MANY of them. Gold is down again and so is oil. I am buying a
small amount of USO this morning in an OPTION call. I have one already
and am adding one now. I also unloaded retailer short and bought
another. I also bought DOG for crash protection.<br>
<br>
Need to hedge or protect your stocks against a fall? BEAR or CONTRARY
funds like: BEARX RYURX SCC SKK SDS QID DOG SRS
SKF all will do this.<br>
This is not a recommendation to buy any of these. FYI only.
<a class="moz-txt-link-abbreviated" href="http://www.Yahoofinance">www.Yahoofinance</a> the symbols to check out the UP moves today in
these stocks.<br>
<br>
This will be a long a volatile day. Who knows how we will close. I
suspect the FEDS do NOT want a down close, or at least a very big down
close on a FRIDAY, so I would not be surprised to see them support this
market all day but who knows.<br>
<br>
Stay the course. Keep most your funds in T BILLS or BANK CDS that are
FDIC insured. Hedge with contrary funds. Oil and gold and currencies
for long term insurance.<br>
Our next stop could be 8100 7500 6500 5500 or even 2500
on the DOW. <br>
<br>
Be also prepared for news headlines on how much pensions, banks,
schools, cities, states and everyone is losing their pensions,
retirements, etc. The next statements will cause havoc in the markets
and on the news. This will cause more selling down the line. Real
estate will continue to plum to new lows. All those who bought this
summer and spring made the typical fools mistake of trying to catch a
falling knife. Now they will pay for their ignorance of economics. The
"real" real estate crash is NOT YET HAPPENED yet. Hard to believe eh?<br>
Retailers: Will get absolutely HAMMERED, many will go bankrupt. Mnay
names you know will not be around next spring and summer.<br>
Bet against them to make money. As I said, there is money in the
corner, go pick it up.<br>
<br>
NOTE:<br>
I had one friend that said I was all DOOM and GLOOM and he wouldn't
read my stuff anymore.<br>
Well, I didnt make this mess, I am just reporting on it, and trying to
help protect you from it.<br>
I suppose he didn't do anything but continue to hold his mutual funds.
Oh well, I guess all this "doom and gloom" will be on his statement in
2 weeks or so when he gets it.<br>
He never did ask me for help.<br>
Sometimes people are afraid to ask for my help. Please dont be. I
charge, true, but wouldn't you? Nobody works for free..<br>
<br>
Anyway, have to run. Much to watch. Many emails to answer.<br>
<br>
Please take some steps to protect yourselves. ( Have I said that
before?)<br>
<br>
All the best,<br>
MARC<br>
<br>
<small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small><small>____________________________________________________________________________</small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small></small><br>
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