Stock Market runs to The Bears

serf

Reach over 1000 points down today and The Feds would have to go to negative interest rates to help.

                                           serf

       https://www.cnbc.com/2020/02/24/us-futures-coronavirus-outbreak.html

 

The benchmark 10-year note yield fell to 1.372% on Monday, putting the key rate close to it all-time low around 1.36%. Yields move inversely to prices. Gold futures jumped 1.5% to around $1,674.5 per ounce and hit its highest level since January 2013.

BobJudy

I hope the feds stay out of it. This is coming from a guy that still has to much in the market. The virus will run its course and the markets will rebound. As for gold it's back up to 2013 levels. My portfolios are way over 2013 levels. If this virus destroys civilization, as some of the sky is falling pundits claim, gold won't do you a lot of good either. Those dumping stock and buying gold will lose their butt when the markets rebound and gold value retreats. Bob

serf

 You forget one thing,never let a good crisis go to waste,when all the phony ponzi fiat money gets hammered to oblivion because of all the credit default swaps and debt overloads with The Keynesian money theory in placement then a new world currency with gold backing it will replace it with a cashless society instead. All physical gold will be confiscated.

   It's time for the great haircut and paper money will cash out with at least a 50% cut. It will be the opposite of a jubilee, for cash holders governments treasury bonds and gold hoarders. 

Soros does not like it for all taxes will be collected at the point of sale and no derivative trades on currency to gain profits will be possible.

                                            serf

        https://www.swissamerica.com/secretwar.php At the 2019 World Economic Forum in Davos, Switzerland, radical billionaire George Soros called on President Donald Trump and other leaders to oppose China’s “social credit” use of AI, which he called a “mortal danger” that could “give Xi Jinping total control over the people.” It will, warned Soros, “subordinate the fate of the individual to the interests of the one-party state in ways unprecedented in history.” [8] “I find the social credit system frightening and abhorrent,” said Soros. “What I find particularly disturbing is that the instruments of control developed by artificial intelligence give an inherent advantage to authoritarian regimes…. For open societies, they pose a mortal threat.” [9] Yet in America, the leftist politicians Soros supports are imitating the “cashless” authoritarian tactics of Communist China to destroy constitutional rights.

Between 18% and 19% of total reportable income in the United States is effectively off the books, hidden from the government, according to a study by Edgar Feige of the University of Wisconsin-Madison and Richard Cebula of Jacksonville University in Florida. [45]

BobJudy

Currency, like gold, only has value if agreed upon by the system in which it is used as a medium of trade. Why have we assigned gold a value? It is not that scarce, a relatively weak metal with the only redeeming quality is that it is stable and a good conductor. Can't eat it, won't make a good blade, heavy and doesn't make good armor. Makes you wonder why our ancestors gave a largely ornamental element such value. Perhaps because it's use defeated counterfeiters unlike more easily obtainable materials. Survival depends on a lot more important things and currency or gold only act as a means of exchange to obtain them. An easier system than barter, so I don't see currency going anywhere or being gold backed in the near future. Bob

mac10

feel sorry for the workers that have the 401k accounts cause there are no pensions