People that follow the markets remember the morning of August 24 well. The Dow fell over 1,000 points at the open, a number of stocks were halted altogether after falling more than their allowed limit, and chaos was more or less breaking out across the universe of global financial assets.
Submitted by Charles Hugh-Smith of OfTwoMinds blog, We are fast approaching the moment when the value of the counterfeit trust, the counterfeit assets and the counterfeit promises are revealed as fakes.
It appears, despite all the promises, all the lies, and all the constant propaganda, that foreign investors have finally seen right through Shinzo Abe's risible plan to revive the Japanese economy by crashing its currency (just like Russia?).
AIG will sell its aircraft leasing business. Mario Monti will resign from his position as a Prime Minister. DJIA on green as HP and other tech giants showed improvement. Uncertainty in gold prices as taxes are expected to rise.
Gold producers, ignored as global stocks rebounded in the past two years and investors turned to exchange-traded funds that track bullion, face closing mines or shutting themselves down after the metal’s worst slump in three decades this week made 15% of miners unprofitable.
Email conversations revealed by hackers show that Alibaba Group Holding Ltd’s (NYSE:BABA) CEO, Jack Ma, was interested in a possible partnership with Sony Corp (ADR) (NYSE:SNE) in an attempt to gain a strong hold in the motion picture production business.