Comments on: Nationalised Banking System Will Come from Global Market Rout

By: Carlo

Carlo — Thu, 16 Oct 2008 02:20:40 +0000

I hear a Wall Street movie sequel is in the works.

Better be good...they can't blame not having enough material to work with

By: Coffee Addict

Coffee Addict — Sun, 12 Oct 2008 23:32:41 +0000

Bounce, bounce then a dead cat bounce. The remaining excess liquidity needs to be torched and this is happening as I type. The day traders will feed off the long term speculators.

Global (emergency) bank nationalisiation and guaranteed do not a boom create.

I did some reading on long term bear markets. I understand that during the 1930's there were a lot of rallies but a dead cat (from the past excesses of the 1920's) always emerged to extinguish the gains.

I agree with commentators who now predict uber inflation and I will plan accordingly.

By: David

David — Sat, 11 Oct 2008 23:30:11 +0000

If (when) banks are nationalised and we have one global currency and one global market controlled by some basically non - elected government, why would a market be allowed to exist where energy and other stocks are allowed to reward nasty capitalist types?

Surely when this mess is allowed to be declared over, we will all be allocated jobs, told where to live, what to eat and what to think.

I can’t say I look forward to it…

By: Tom Mckernan

Tom Mckernan — Sat, 11 Oct 2008 00:10:13 +0000

I reckon people are afraid of understanding the concept of money. For example, you activelly make something, or serve somebody, for money. This money is paided directly into your bank, each week. The bulk of your banked money does not physically exist and you never handle it anyway.

Similarly, if you trade shares, [which mostly nobody does now because everyone has become a long term holder, or investor if you the title better], your money shifts between banks. You never physically handle it and it does not physically exist.

If money has wings, meaning it's difficult to hold on to, what would you say about bank account figures that have no physical reality?

I think I know why those immigrants I saw as a child, always had large roles of paper money in their pockets.

Anyway, what do you know about the money that you have in numerical form? Its value and what determines that value? Inflation and deflation? Also, do you need to comprehend the principles which govern the value of your money?

I think that I'll go to an ATM and withdraw most of my money, because those big European labourers I saw as a child, with large roles of money, probably knew something which I need to know?

Regarding the principles which govern the value of your money, they are real. However, make sure you have some of the physical money where you can access it, while you learn about these principles

By: charles

charles — Fri, 10 Oct 2008 21:14:25 +0000

Gold falls as investors raise cash. A panic just isn't what it used to be is it.

By: Ian Lucas

Ian Lucas — Fri, 10 Oct 2008 20:54:53 +0000

"Do you think it's a coincidence that civil liberties decline as the State's influence on the economy grows?"

But growing State influence on the economy does not explain the Patriot Act, warrantless wiretaps and Guantanamo Bay.

Let's get real. Start with Lord Acton's dictum that power corrupts and absolute power corrupts absolutely. Expect power junkies to gravitate to positions of power, wherever these are located - in government, in unions and even in the sacred private sector. Accept that the only solution is eternal vigilance to keep the bastards honest.

Love your work generally, by the way.

By: Curt

Curt — Fri, 10 Oct 2008 15:52:49 +0000

I agree that the energy sector will be a good place to be, but not until the market crash is over.