[Money-matters] Money Update Friday Urgent

Fri Oct 24 15:09:10 UTC 2008

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.

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.
"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."
_/*
Marc's Notes:*/_
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?
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?
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.

I just had to share this gem this morning. >:o

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.

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.

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.
This is not a recommendation to buy any of these. FYI only.   
www.Yahoofinance    the symbols to check out the UP moves today in these 
stocks.

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.

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.
Our next stop could be   8100    7500    6500    5500    or even 2500  
on the DOW. 

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?
Retailers: Will get absolutely HAMMERED, many will go bankrupt. Mnay 
names you know will not be around next spring and summer.
Bet against them to make money. As I said, there is money in the corner, 
go pick it up.

NOTE:
I had one friend that said I was all DOOM and GLOOM and he wouldn't read 
my stuff anymore.
Well, I didnt make this mess, I am just reporting on it, and trying to 
help protect you from it.
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.
He never did ask me for help.
Sometimes people are afraid to ask for my help. Please dont be. I 
charge, true, but wouldn't you?  Nobody works for free..

Anyway, have to run. Much to watch. Many emails to answer.

Please take some steps to protect yourselves. ( Have I said that before?)

All the best,
MARC

____________________________________________________________________________

Do Not Reply to this message directly.

Direct all questions or comments to Moneymatters at kvmr.org. 
All comments or questions must be less then 3 sentences in length and 
must not contain any links or articles.

You can access past updates at:  
http://mailman.jtan.com/pipermail/money-matters-l/

This article is strictly for informational purposes only. It is not a 
solicitation to make any exchange, buy or sell any precious metal 
products, commodities, securities, stocks, warrants, options or other 
financial instruments. Marc Cuniberti, author of this article, does not 
accept culpability for losses and/ or damages arising from the use of 
this publication or any information contained herein. Investing involves 
risk. You can lose money. Please order up the prospectus on any and all 
securities you may be  planning to buy and do your own research before 
investing. Mr. Cuniberti may or may not hold the securities listed.

Produced and Hosted by Marc Cuniberti
Money Management Radio
"Money Matters"  and "Your Money Matters"
Northern California's  # 1   "alternative"  economic show.
"Know the Truth and the Truth shall set you free".
89.5  105.1  95.1  103.7   FM Radios throughout Northern California and 
the State Capitol.
Worldwide on the web at WWW.KVMR.ORG and WWW.KFOK.ORG.

-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://mailman.jtan.com/pipermail/money-matters-l/attachments/20081024/9cb04fbc/attachment.htm