"Savings Of Millions Of People Are Going To Vanish" in [Market-Ticker]

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User Info	"Savings Of Millions Of People Are Going To Vanish" in forum [Market-Ticker]
Hogman Posts: 7874 Incept: 2008-02-18 Derby City, USA	GS rules the world Well I'll Be Damned 2011-09-26 12:14:24 Permalink
Wearedoomed Posts: 3585 Incept: 2009-01-14 slightly red state Online	---------- And you, my father, there on the sad height, Curse, bless me now with your fierce tears, I pray. Do not go gentle into that good night. Rage, rage against the dying of the light. 2011-09-26 12:22:16 Permalink
Splashdown Posts: 556 Incept: 2010-04-05 Central Illinois	Ok...so how do we profit from it? He's talking USD and Treasuries. What else? 2011-09-26 12:22:25 Permalink
Lkinley Posts: 1138 Incept: 2008-03-31 Kitsap Peninsula WA	Inverse ETF funds. Be careful with the leveraged ones. ---------- Oh, THERE'S the kaboom. 2011-09-26 12:29:10 Permalink
Smacktle Posts: 1362 Incept: 2009-01-20 Texas	I think what he is saying is get out of the market and stay in USD somehow, treasuries, cash whatever. ---------- The faults of the burglar are the qualities of the financier. - George Bernard Shaw 2011-09-26 12:38:25 Permalink
Stemmit Posts: 4071 Incept: 2007-09-07 NYS	Ha, Ha, Ha... he's probably fired already for having a conscience and trying to inform- loved the BBC comments at the end that 'its best not to think about it'. Its sad that honest views such as this are forbidden to be spoken publicly in America. ---------- The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he who in the name of charity and goodwill shepherds the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost children. And I will execute great v Last modified: 2011-09-26 12:39:49 by stemmit 2011-09-26 12:38:59 Permalink
Gable Posts: 413 Incept: 2009-07-04	I am a bit confused. He says, "Savings Of Millions Of People Are Going To Vanish", but says USD and Treasuries are safe. Is he grouping stock market investments into "savings"? I tend to have a very narrow definition of "savings" as cash, checking accounts, savings account, CDs sitting in the credit union. If the USD and Treasuries are safe then my "savings" should be. Someone help the doofus here :) ---------- In all of history, no government became more honest, less corrupt, or granted its citizens more rights as it grew in size. E.L. 2011 Ellie's Law-As an online discussion about the failures of the Obama Administration continues, the probability someone shouting "It's Bush's Fault" approaches 1 2011-09-26 12:39:16 Permalink
Themortgagedude Posts: 8853 Incept: 2007-12-17 saint louis	Goldman rules the world. Well until they don't. Where did I put my rope??? ---------- I'm already visualizing you with duct tape over your mouth. 2011-09-26 12:43:04 Permalink
Abn0rmal Posts: 9261 Incept: 2009-01-10	The savings of millions of people vanished the instant those savings were malinvested. It's been going on for a century but the growing population and technological advances allowed banks and governments to pretend otherwise. Now they are running out of the ability to hide the losses. Last modified: 2011-09-26 12:43:45 by abn0rmal 2011-09-26 12:43:09 Permalink
Packetconductor Posts: 11 Incept: 2011-09-22 Ohio	I would think he means something along the lines of a money market fund or other non-backed instruments. Although, who knows if the FDIC would/could back the savings of anyone at a TBTF bank, if they failed. 2011-09-26 12:45:22 Permalink
Uncleoxidant Posts: 2200 Incept: 2007-07-10 Stumptown	Quote: I am a bit confused. He says, "Savings Of Millions Of People Are Going To Vanish", but says USD and Treasuries are safe. I think he's saying that Europe is toast. ---------- I am not a consumer. I am a Citizen! 2011-09-26 12:47:52 Permalink
Smacktle Posts: 1362 Incept: 2009-01-20 Texas	He's talking about 401Ks, Roth IRAs, pensions etc... invested in the stock market. Most people have no clue and have been told to stay long all their life, that the market always comes back and wins in the long run. My mom for example has a hefty sum invested in the market and won't get out because her financial adviser tells her to stay long the stock market. I just sent him this video and told him to get her out. She's probably going to end up living with me. ---------- The faults of the burglar are the qualities of the financier. - George Bernard Shaw 2011-09-26 12:56:08 Permalink
Mayorviolet Posts: 67 Incept: 2010-09-16 Philadelphia, PA Banned	You're not the only doofus, Vinnster. I don't get it ... we're going to lose our savings, but not if we pile into Treasuries and the dollar? What am I missing here? 2011-09-26 13:00:44 Permalink
Randy123 Posts: 5785 Incept: 2008-09-24 Earth Online	Which is why I recently bought a house. If the house vanishes, then I have a problem. ---------- China is the Enemy. Wake Up. New Normal. Same As The Old Awful. 2011-09-26 13:05:52 Permalink
Tesla Posts: 15542 Incept: 2008-04-03 State of Disbelief	That would be short-term only Treasuries and FRNs. We may be diseased, but we're not as diseased (yet) as the rest of the world, is the play. ---------- "Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams 2011-09-26 13:07:39 Permalink
Uncleoxidant Posts: 2200 Incept: 2007-07-10 Stumptown	Quote: I don't get it ... we're going to lose our savings, but not if we pile into Treasuries and the dollar? What am I missing here? All a matter of timing. Remember, he's talking on the BBC and he's in London. Millions in Europe will lose their savings, so he's saying get out of Euro denominated stuff. ...yes, eventually the same thing happens here in the US, but Europe blows first. Of course, if the delta time between the two events is only days or weeks then you're hosed either way. If the delta is a year or two... well, you've got a bit more time to prep if you're in the US. ---------- I am not a consumer. I am a Citizen! Last modified: 2011-09-26 13:27:28 by uncleoxidant 2011-09-26 13:09:44 Permalink
Jotapay Posts: 16733 Incept: 2008-08-26 Austin, Tx Online	Quote: What else? Mobile cash. Great time to start a business actually if you can buy equipment and create a service that people still want. Everyone else will be broke or near to it. 2011-09-26 13:13:09 Permalink
Vegasradar Posts: 8668 Incept: 2007-07-11	Quote: Which is why I recently bought a house. If the house vanishes, then I have a problem. ---------- Be the change you want to see in the world. ~Mahatma Gandhi 2011-09-26 13:18:43 Permalink
Burke13 Posts: 32 Incept: 2010-02-22 Texas	Interesting interview and I can't say I disagree with him. Does anyone know his name? I'd like to research his track record. 2011-09-26 13:18:51 Permalink
Connieg Posts: 860 Incept: 2008-06-08 Houston, TX	burke..Allesio Rastani...he will zig when market zags at a wrong time and his position will blow up (prediction). This guy evokes seriously bad karma. ---------- "Go long...something" Me Last modified: 2011-09-26 13:30:13 by connieg 2011-09-26 13:22:25 Permalink
Videopro Posts: 1895 Incept: 2007-08-03 L.A. Area	As far as insured deposits, CD's, etc., you only need to know the FDIC itself makes no bones about stating they are broke. Mere pennies on the dollar of insured deposits broke. Oh, sure, they have puportedly secured a multibillion dollar credit line from the Treasury should it be needed. However... Enter stage left a world-wide banking system meltdown brought on by soverign default and resultant unwinding of God-knows how many trillions of swaps... what do you think? Yes, he's right. VERY right. Millions WILL lose all the savings they have. Cash, treasuries... both have their own price/risk. In the end, i'm not sure there is any true safe haven for savings. With that in mind, of these asset classes you will be able to say 'He who loses least wins.' Unfortunately, that may be about as good as anyone could hope for in the scenario unfolding. ---------- "The Spinning Cyclone Of Deflation Is Fueled By Deficit Spending. An efficient asset destroying storm powered by the printing press". - Me When the Nazi's broke every law when coming to power, people in later years were asked, how were they allowed to do it? The answer was easy: They Simply Did It. 2011-09-26 13:23:04 Permalink
Widgeon Posts: 13481 Incept: 2007-08-30 Region formerly known as the United States	RE; USD & Treasuries. He states the caveat that he's a trader and he's trying to make money in any environment. I think he's merely saying long USD & Treasuries is the clearest trade he sees for now; UNTIL THAT CHANGES ... I don't think he's saying they re clear thing forever .... only until the next leg of the crisis begins to assert itself: what it is and whenever, as a trader he'll deal with it then. 2011-09-26 13:46:02 Permalink
Mangoelvis Posts: 1727 Incept: 2009-07-11 Las Vegas, NV Online	Does anyone know if European bank depositors are covered by an FDIC-like organization over there? And if so, how solvent is that organization? ---------- Evolutionarily speaking, sloths must taste terrible. 2011-09-26 13:51:55 Permalink
Pondmaster Posts: 114 Incept: 2009-06-30	Well KD , you and ZH placed this post almost simultaneously . Sobering !! Although our man is just a trader , he has some wisdom . But odd indeed that he stated Goldman Sachs rules the world . I am afraid he may be right . Anyone put in for thier own personal Goldman number so they can buy or sell. Gods work indeed!! Liars and hypocrites 2011-09-26 13:53:45 Permalink

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