The Gold and Silver bull now rides into 2014! Prices will gap even higher on Monday.
CIGA Bo Polny
What’s new? "Uncharted territory" equals acknowledging the current monetary experiment.
"The day will come when this period of exceptionally loose monetary policy… must end," she said in a speech to a global gathering of central bankers hosted by the US Federal Reserve in Jackson Hole, Wyoming, on Friday.
"We need to plan for that day, especially since we do not know exactly when it comes," said Ms Lagarde, the managing director of the International Monetary Fund.
"Just as with entry, exit will take us into uncharted territory."
“In spite of the glitches, investors have been drawn back into the markets by the continued strength in equities, and by the extended period of low interest rates available for bank accounts and Federal treasury notes.”
CIGA Wolfgang Rech
$5.7 trillion locked up by Nasdaq trading halt
August 22, 2013, 1:33 PM
asdaq’s unexplained trading halt Thursday locked up trading in stocks with a total market capitalization of $5.7 trillion.
The extraordinary halt in the trading of more than 2,000 issues listed on the Nasdaq COMP , came after an as yet undisclosed technical glitch.
It halted trading in the tech industry’s biggest names, including Apple AAPL , Google GOOG , Microsoft MSFT , Amazon.com AMZN and Cisco Systems CSCO . The five companies have a combined market cap of more than $1 trillion.
Glitches in trading tied to high-speed computer algorithms have occurred frequently in recent years, with the so-called flash crash in May 2010 marking the most widely noted instance of instability in the stock market’s infrastructure. But new rules aimed at preventing problems have been slow to be implemented.
On Tuesday, erroneous stock-option orders from Goldman Sachs flooded into American exchanges, in the latest example of technical problems in trading.
Very interesting. The Russians will have their tactical Naval port and airbase in the Mediterranean after all! That worked out rather well after all, yes?
Give me control of a nation’s money and I care not who makes the laws.
- Mayer Amschel Rothschild
Cyprus Bank’s Bailout Hands Ownership to Russian Plutocrats
By ANDREW HIGGINS
Published: August 21, 2013
LIMASSOL, Cyprus — When European leaders engineered a harsh bailout deal for this tiny Mediterranean nation in March, they cheered the end of an economic model fueled by a flood of cash from Russia. Wealthy Russians with money in Cyprus’s sickly banks lost billions.
But the Russians, though badly bruised, are now in a position to get something that has previously eluded even Moscow’s most audacious oligarchs: control of a so-called systemic financial institution in the European Union.
“They wanted to throw out the Russians but in the end, they delivered our main bank to the Russians,” said the Cypriot president, Nicos Anastasiades, in a June interview.
The March bailout hammered bank creditors and depositors in an early test of what has since become the official European Union policy of “bailing-in” banks. The policy is intended to force creditors and depositors to pay for a bank’s mistakes and to spare taxpayers from picking up the entire bill.