bills_fan Posted September 24, 2008 Share Posted September 24, 2008 This quote is from I site I respect and consult daily. Anyone hearing anything about this from other sites/work/etc. that you could post? I have heard nothing. Last Friday, the U.S government waved the white flag and surrendered the capital market process when it banned short sales in the financials. It was a profoundly sad day for the free market system. I felt as if I lost a close friend of seventeen years that I was intimately involved with. Over the weekend, I discovered there might have been more to that decision than initially met the eye. There was chatter on the beltway that we may have been the victim of economic terrorism, a coordinated short raid that originated in London and Dubai. While the legitimacy of that remains to be seen, my source is well respected. Further, as the goals of terrorism are economic destruction and social upheaval, it makes intuitive sense. The stock market is the world’s largest thermometer and breaking the capital market construct—as some would say they did last week—would effectively achieve both goals. Full Article EDIT: Another site report on this... http://bigpicture.typepad.com/comments/200...r-attack-o.html Link to comment Share on other sites More sharing options...
GG Posted September 24, 2008 Share Posted September 24, 2008 This quote is from I site I respect and consult daily. Anyone hearing anything about this from other sites/work/etc. that you could post? I have heard nothing. Full Article Ok, answer the logical question, what do London & Dubai have to gain by bringing down the US financial system? Link to comment Share on other sites More sharing options...
bills_fan Posted September 24, 2008 Author Share Posted September 24, 2008 Ok, answer the logical question, what do London & Dubai have to gain by bringing down the US financial system? No clue, certainly not advocating this theory at all. Just asking if anyone else heard anything about this. Link to comment Share on other sites More sharing options...
GG Posted September 24, 2008 Share Posted September 24, 2008 No clue, certainly not advocating this theory at all. Just asking if anyone else heard anything about this. The only thing I heard is the conspiracy that Paulson dumped LEH to help out his GS buds. Link to comment Share on other sites More sharing options...
bills_fan Posted September 24, 2008 Author Share Posted September 24, 2008 The only thing I heard is the conspiracy that Paulson dumped LEH to help out his GS buds. I admit this has all the making of the moon-landing-was-staged crackpots, but the original site I linked to, Minyanville, has been a trusted resource of mine for years. To put that out there, would destroy all future credibility. That is the only reason I'm not dismissing this as a ghost story right now. Link to comment Share on other sites More sharing options...
bills_fan_in_raleigh Posted September 24, 2008 Share Posted September 24, 2008 Cowards. Come out of hiding you b*rds. I really think the source of this is internal with plain old greed versus those cowards hiding in the mountains. Link to comment Share on other sites More sharing options...
/dev/null Posted September 24, 2008 Share Posted September 24, 2008 Last Friday, the U.S government waved the white flag and surrendered the capital market process when it banned short sales in the financials If it was economic terrorism why did we wave a white flag? Shouldn't it have been a Green/Blue/Yellow/Orange/Red flag? Link to comment Share on other sites More sharing options...
/dev/null Posted September 24, 2008 Share Posted September 24, 2008 Cowards. Come out of hiding you b*rds. b*rds? Bards? I had a Bard in EQ Birds? Are you anti-avian? Byrds? Robert Byrd? Link to comment Share on other sites More sharing options...
Booster4324 Posted September 24, 2008 Share Posted September 24, 2008 Bards? I had a Bard in EQ MMO geek, oh wait... Link to comment Share on other sites More sharing options...
DC Tom Posted September 25, 2008 Share Posted September 25, 2008 This quote is from I site I respect and consult daily. Anyone hearing anything about this from other sites/work/etc. that you could post? I have heard nothing. Full Article EDIT: Another site report on this... http://bigpicture.typepad.com/comments/200...r-attack-o.html The ONLY reason I don't dismiss this out of hand is because the FBI is investigating the firms surrounding the market collapse, and it makes no sense to me why the FBI would be investigating. Otherwise...I call bull sh--. How much capital would it take to short the financial industry into oblivion? Link to comment Share on other sites More sharing options...
bills_fan Posted September 25, 2008 Author Share Posted September 25, 2008 The ONLY reason I don't dismiss this out of hand is because the FBI is investigating the firms surrounding the market collapse, and it makes no sense to me why the FBI would be investigating. Otherwise...I call bull sh--. How much capital would it take to short the financial industry into oblivion? I had thought of that, but the capital would be there due to oil revenues. I also thought the FBI investigation to be odd. Link to comment Share on other sites More sharing options...
DC Tom Posted September 25, 2008 Share Posted September 25, 2008 I had thought of that, but the capital would be there due to oil revenues. I also thought the FBI investigation to be odd. But HOW MUCH capital? The capital exists...but is there anyone with motive who has access to that much money? If you threw together Venezuela, Iran, al-Qaeda, Syria, Afghanistan, and Pakistan, I doubt they'd have the pooled capital to do it (you could add North Korea to the list...but the might be able to contribute, what, three cents?) It's possible that some private individuals, alone or together, could do it, like Soros' run on the pound 15 years ago, or the runs on the Pacific Rim currencies a decade ago...but I can't think of anyone who could capitalize such a venture that didn't have more to lose than they would to gain. Link to comment Share on other sites More sharing options...
Simon Posted September 25, 2008 Share Posted September 25, 2008 ...but I can't think of anyone who could capitalize such a venture that didn't have more to lose than they would to gain. If ideology were theoretically involved, that could be all but a moot point. But ideology likely stops a few zeroes short of the capital y'all are talking about. Link to comment Share on other sites More sharing options...
JimBob2232 Posted September 25, 2008 Share Posted September 25, 2008 How much capital would it take to short the financial industry into oblivion? Would you believe none? The whole concept of shorting a stock is selling a stock you do not have, and hoping to be able to buy it back later at a cheaper price than you paid for it. For example Sell 100 shares of GE stock (which you DO NOT OWN), make $3,000 Stock goes down to $25 Buy 100 stares of GE stock for $2500 to cover those shares you sold, but did not own Profit $500 Simplistic...but takes no money... Link to comment Share on other sites More sharing options...
meazza Posted September 25, 2008 Share Posted September 25, 2008 Would you believe none? The whole concept of shorting a stock is selling a stock you do not have, and hoping to be able to buy it back later at a cheaper price than you paid for it. For example Sell 100 shares of GE stock (which you DO NOT OWN), make $3,000 Stock goes down to $25 Buy 100 stares of GE stock for $2500 to cover those shares you sold, but did not own Profit $500 Simplistic...but takes no money... I know, just the other day one of our prime brokers called us and asked us to short about 100 Million of Goldman Sachs. Obviously we asked for no capital or margin. Very simplistic... Link to comment Share on other sites More sharing options...
GG Posted September 25, 2008 Share Posted September 25, 2008 But HOW MUCH capital? The capital exists...but is there anyone with motive who has access to that much money? If you threw together Venezuela, Iran, al-Qaeda, Syria, Afghanistan, and Pakistan, I doubt they'd have the pooled capital to do it (you could add North Korea to the list...but the might be able to contribute, what, three cents?) It's possible that some private individuals, alone or together, could do it, like Soros' run on the pound 15 years ago, or the runs on the Pacific Rim currencies a decade ago...but I can't think of anyone who could capitalize such a venture that didn't have more to lose than they would to gain. UAE sovereign funds definitely have that kind of capital, as do the Russians. Would give more credence to the conspiracy that it would come from Dubai after getting laundered through Cyprus. But it doesn't make sense for the FBI's involvement, as I understand they're looking at the firms' accounting statements, not the brokers' trading positions. Link to comment Share on other sites More sharing options...
LongLiveRalph Posted September 25, 2008 Share Posted September 25, 2008 It's clear what needs to be done. We'll go to London and Dubai, and we'll smoke 'em out. Smoke 'em out of their holes. And their Leerjets. Link to comment Share on other sites More sharing options...
meazza Posted September 25, 2008 Share Posted September 25, 2008 It's clear what needs to be done. We'll go to London and Dubai, and we'll smoke 'em out. Smoke 'em out of their holes. And their Leerjets. I agree. We land on palm island, enjoy the scenery... and then end up living there. Link to comment Share on other sites More sharing options...
DC Tom Posted September 25, 2008 Share Posted September 25, 2008 Would you believe none? The whole concept of shorting a stock is selling a stock you do not have, and hoping to be able to buy it back later at a cheaper price than you paid for it. For example Sell 100 shares of GE stock (which you DO NOT OWN), make $3,000 Stock goes down to $25 Buy 100 stares of GE stock for $2500 to cover those shares you sold, but did not own Profit $500 Simplistic...but takes no money... Yeah, except that it takes money to do it. !@#$ing moron. Really, learn something about it. Then get back to us. Link to comment Share on other sites More sharing options...
DC Tom Posted September 25, 2008 Share Posted September 25, 2008 UAE sovereign funds definitely have that kind of capital, as do the Russians. Would give more credence to the conspiracy that it would come from Dubai after getting laundered through Cyprus. But it doesn't make sense for the FBI's involvement, as I understand they're looking at the firms' accounting statements, not the brokers' trading positions. Doesn't make sense at all. Hell, the FBI's involvement doesn't make any sense...they're looking at the accounting statements? The FBI? Yeah, I know they have forensic accounting experience in-house for white-collar crime...but they're branching out in to corporate accounting and independent auditing now? Seriously, doesn't the SEC usually have jurisdiction over this sort of stuff? Link to comment Share on other sites More sharing options...
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