[Money-matters] Money Update Oct 8 2008
Marc Cuniberti/Bay Area Process/KVMR FM/KFOK FM Radios
bayareaprocess at att.net
Wed Oct 8 14:10:06 UTC 2008
The Federal Reserve said it will bypass ailing banks and lend directly
to American corporations for the first time since the Great Depression,
and it hinted strongly at further interest-rate cuts -- a cocktail of
unconventional and conventional remedies for an economy whose prognosis
is deteriorating rapidly.
*LONDON (MarketWatch) -- The world's major central banks moved in
concert Wednesday to slash key interest rates, easing monetary policy
around the globe in an ongoing struggle to head off financial turmoil
that has threatened to flatten the international economy.
*Oct. 8 (Bloomberg) -- Russia, Indonesia, Ukraine and Romania shut their
stock exchanges after shares plummeted in the worst week for
emerging-markets in at least two decades.
_/*Marc's Notes:*/_
There is your coordinated RATE CUT, there is your first STOCK MARKET
CLOSING, there is ANOTHER BAIL OUT by lending to private corporations.
Boy, are these guys easy to predict or what? They are going to pour
every last dime of YOUR money into the hole, and THEN LET IT GO UNDER.
Good money after bad, money we will need to feed everybody when they
finish destroying our way of life. Terrible.
The FEDS are now almost powerless. They are out of ammo. They will still
try but they still dont get it.
IT WONT WORK. I wonder what it will take to get it thru their heads.
This IS the crash week we warned was possible. The average investor is
now panicking. The exit will be massive. The carnage unbelievable. I
hope you hedged with contrary funds.
If you want out, then SELL and move money to CDs T BILLS T BILL
Funds ( see previous emails)
If you think you have lost a lot now, wait a week. It could be a lot worse.
Markets are now illogical. The YEN is up while the Aussie dollar and
Canadian dollar is down. (Thats why we own all 3)
Gold is up but gold stocks may not be.
Consider using any rallies to get out of long positions.
HEDGE HEDGE HEDGE is the word.
A thousand point drop may be in the cards any day. THE LEMMINGS ARE
PANICKING.
The FEDS will be buying to stop a free fall, especially after a rate
cut. IF it continues to fall which I think likely, there is little else
they can do.
Keep cash on hand for a stock or bank shutdown. Get physical gold on
order. It is the only asset with a promise NOT attached to it.
Use contrary funds to protect against losses ( see previous emails)
Hold all positions unless you need to lighten up dividend payers to get
cash to HEDGE with a contrary fund.
Upcoming show is call in the entire hour, tomorrow at noon.
All the best for now,
Marc
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