Global markets crashing


#1

Well the title says it all… but I read this on teh BBC website and it was thought provoking.

“While shares are being pummelled today, the euro has moved sharply higher. It is up 0.85% against the dollar at $1.1484. At one point it hit $1.15. Analysts says that investors are switching funds into both the euro and the yen, which are seen as less risky investments. But what about the dollar? It is being undermined as investors think that an interest rate rise by the US Federal Reserve next month is increasingly unlikely.”

The migration of value has begun. It’s moving away from the $ and into other currencies. This will be of benefit to BTC IMO but, and it appears to be the case judging by the current price, BTC is not, as yet, one of those currencies considered to be a backstop.

As a user and small investor in BTC coins, I’ve had to make the judgement call and hold back on buying more as there’s clearly a chance this could get worse. This XT malarky has dented us at a time when we could have been flying due to the global markets. IF ever there was proof that XT was a dumb fking idea from the get go, then this period of time proves it.

And if that muppet at CoinWallet.eu goes ahead with his plan there will be trouble. Not just network wide but for him locally. Computer abuse to affect a commercial network of small traders whose income would be directly affected is not, and never will be, acceptable and I will protect my customers, clients and business using every legal means at my disposal.


#2

Almost like it was planned that way! hmmmmm… :astonished:


#3



#4

FTSE under 6000
let the bloodbath commence
brace yourselves for another bail in ? it’s carnage out there!
this is going to play out over weeks not days
Greece’s problems are about to compound AND be small in comparison IF China doesn’t get a grip soon, but many watchers have been predicting this bubble burst for some time. A property boom that had “inevitable collapse” written all over it.
The questions are “just how toxic to western markets is this?” and "how long is this downtrend going to last?"
there are in fact many more …
It will be interesting to see how the 1000 ATM’s in Greece plan goes as well as the Agristi island plan. Talking to Lee who is one of those involved, he says it has a lot of support with lots to do. The Beauty pageant idea is an interesting way to get attention … we will see how this all pans out…at least it has Mayoral support and in my experience, any support from the local administration is a boon.


#5

Chinese market down almost 10% (largest drop in almost 10 years)
Japanese market down 5% (largest drop in almost 3 years)

I still believe these crashing markets can be tied (at least partially) back to the destabilizing move of dropping the oil price so drastically and lifting the export limits in the middle east.

We can all hope for a massive global EMP to wipe out all servers that store debt records :slight_smile:


#6

Seen Mr Robot yet? If not…do, it’s great!

The crash now in China has been a long time coming… years in the making, but equally predictable.

The Oil element is an interesting one as the USA has gone from being a consumer to a producer, the world is awash with oil. huuuge finds in iraq (GKP et al) and fracking and other new methods of extraction means that oil is abundant. Add to this the growing renewables drive and resulting reduction of oil consumption and many industries that rely on it for their revenue are in trouble. Speculators are in ever worsening dire trouble and and it’s all going south for a lot of people around the world.
Again, it’s all been very predictable. One reason we made the house move this year and not hang it out any longer was because we believed a significant economic event was due, if not overdue. We were right…talk about relieved!
What concerns me the most is this belief that Austerity is a way out of this mess. IT’s been proven time and again to not be the way out of a crisis yet it’s a default position for many Governments. Punishing the workers for the failures of a group of people not elected or worse, in some cases not even skilled in the business of business, and with virtually no accountability in these systems, the perpetrators will, once again, go scott free


#7

Incessant government intervention is one of the major contributing factors to the stock market problems unfortunately. The constant stream of “QE” around the world, the chinese government a couple of weeks ago relaxed rules to flood more money in to the market to prop up prices (a mistake they’re about to repeat wth everyones pension money).

I don’t know where this notion that governments have an obligation to control the markets came from (Indeed I’ve been researching the history of this) but the reality is that because they’ve got their noses in to so many different pies, where they have no place being, the markets are so far out of whack that no one really knows what a proper market would look like.

What we’re seeing being played out now is the inevitable correction, which, if it were to run its natural course, would result in a market that is utterly shredded, almost destroyed and in a much better place to find it’s equilibrium Stocks, commodities, currencies, it’s all borked.

Unfortunately there’ll be “unilateral” action by major world governments again, more interventionism and then temporary stability, giving people the illusion that things are back to normal…at which point stocks etc will fly again as people try and ignore reality.

Until governments back out of where they don’t belong, this ride will keep occurring and people will keep getting burned.

Of course, in a natural market situation, people will get burned anyway, as the economic cycle moves from one point to another, but it wouldn’t be anything like this in scale, it’d just be the few unfortunate saps that put their money in the wrong place at the wrong moment. Right now, that’s every body.


#8

On the other hand, it proves that it is possible to ■■■■ something up even without a hard fork or some rogue devs or whatever. If just a RUMOR (rumour if you’re on the wrong side of the pond) of an interest rate change can send “global markets” into a tailspin then it makes Bitcoin - with or without XT - look like it’s doing just fine.


#9

Whose language are you using?! :stuck_out_tongue: :laughing:

There’s that, and the Chinese slowdown, coupled with their currency devaluation (actually, I approve of this move) , which actually put it in a better place long term. So many factors. It’s all been like an elephant balancing on a pin head for so long though that eventually it was going to falter. I’m amazed, each and every time, at how long it takes for peoples faith to waver.

Here’s an interesting question:

Here in ye olde estern world, we’ve had our interest rates artificially pegged at (depending on where you are) 0.25% to 0.5% for several years now, leaving marcoeconomic management with little more than a dog eared 2 of spades left to play.

What, in a natural market, would the interest rates likely be, right now, if they were a realistic valuation of market sentiment?

I’d plump for something fat and juicy like 15%.

I’ll try and rationalise that if you’d all like, but the resulting WOT would be so epic it’d make @cyberpinoy weep.


#10

Not by choice. You’d be all speaking Esperanto if I had my way :smile:

Just go ahead. This is a WOT thread I think.


#11

…sets out iron plates under wall street windows…


#12

fixed that for you :smile:


#13

hahahaha
you read my mind, was gonna post the same


#14

Not worth the effort, just move parked cars to avoid the splatter and go on with your lives.


#15

Its worth the effort, if it makes me happy. :stuck_out_tongue:


#16

I called it…

Anyone with a bit of brain (who can read or even watch factual documentaries) knew this was coming.

Russia and China are piling up on their gold reserves as well in preparation to exit the petro$. Should be fun.


#17

With the real thing, not “certificates”, Paper assets (gold/silver certificates) are trash as that game is all a ponzi for the uneducated investor.

Edit for clarification: there is estimated to be 1OZT of physical metal for every 100 paper OTZ., and that is thought to be a conservative estimate.


#18

Indeed. Apparently some countries are actually still backing their currency with commodities or gold reserves. The US and EUR not so much… we just print on demand.


#19

So you’re saying that my sales of Bitcoin-compatible mattresses might finally take off? Fantastic.

Hyperflex thermodynamic printing.


#20

I liked the rabbit version… the one where the BS just kept multiplying like real bunnehs!