Bear Sterns is insolvent -- stock drops 25%

The situation is dire Dollar down again oil up gold over 1000 Trust in government statistics has been shreded with todays fictious numbers of no inflation. And the selling in BSC yesterday had nothing to do with todays announcement of HELP WE ARE INSOLVENT. Stock only down 25% today.

Edited by zedor, 14 March 2008 - 09:53 AM.

As part of the agreement, JPMorgan and the New York Fed said they would provide funding for an initial period of up to 28 days, with the Fed providing funding to JPMorgan through its discount window.

The announcement did not indicate how much funding Bear Stearns would receive.

The news comes just days after Bear Stearns publicly denied market speculation that it was facing liquidity problems.

Bear Stearns CEO Alan Schwartz said in a statement that despite attempts to confront and dispel these rumors, the company's liquidity position had "significantly deteriorated" in the last 24 hours.

"We took this important step to restore confidence in us in the marketplace, strengthen our liquidity and allow us to continue normal operations," said Schwartz.

Yea and I am going to open an account with them now that I have read this. A company I can trust.

this is just a drop in the ocean if you compare it with the fed's book...

The situation is dire

Dollar down again oil up gold over 1000

Trust in government statistics has been shreded with todays fictious numbers of no inflation.

And the selling in BSC yesterday had nothing to do with todays announcement of HELP WE ARE INSOLVENT. Stock only down 25% today.

Personally I thinks its stupid to call the dollah funny money.

What money is used to buy everything you buy?
In what currency yuo pay taxes?
What currency is a lot of international trade undertaken?

In the dollar. A dollar is a dollar is a dollar. What else is it.

It is going down cos the chineese wont revvalue up quick enouh. That is international trade.

Personally i think its perfectly legal tender, and we saw similar in the yen and sterling and euro various periods. Thats life.

The situation is dire

Dollar down again oil up gold over 1000

Trust in government statistics has been shreded with todays fictious numbers of no inflation.

And the selling in BSC yesterday had nothing to do with todays announcement of HELP WE ARE INSOLVENT. Stock only down 25% today.

Personally I thinks its stupid to call the dollah funny money.

What money is used to buy everything you buy?
In what currency yuo pay taxes?
What currency is a lot of international trade undertaken?

In the dollar. A dollar is a dollar is a dollar. What else is it.

It is going down cos the chineese wont revvalue up quick enouh. That is international trade.

Personally i think its perfectly legal tender, and we saw similar in the yen and sterling and euro various periods. Thats life.

Personally I think its stupid to believe its anything but based on what is going on.

Funny money in the sense that what is bailing out Bear Sterns is one that the FED just creates out of thin air whenever they want to, no accountability, no reporting, no reserves nothing. Just entries in the computer. Where is this bail out money coming from ? The FEDs money tree in the back yard?

By suppressing the dissemination of M3 they have blatantly just created the stuff in huge torrents that like multiple stock offerings dilutes the holdings of those who already have the stuff. IE mine and yours. Hence the on going crash in the dollar vs other currencies and gold.

The world markets think the dollar has become funny money - yes its legal tender in the US but its value by all metrics is erroding very fast and the blatant creation of it is what is transforming it to monopoly money in the long run as we speak.

Edited by zedor, 14 March 2008 - 10:46 AM.

The situation is dire

Dollar down again oil up gold over 1000

Trust in government statistics has been shreded with todays fictious numbers of no inflation.

And the selling in BSC yesterday had nothing to do with todays announcement of HELP WE ARE INSOLVENT. Stock only down 25% today.

Personally I thinks its stupid to call the dollah funny money.

What money is used to buy everything you buy?
In what currency yuo pay taxes?
What currency is a lot of international trade undertaken?

In the dollar. A dollar is a dollar is a dollar. What else is it.

It is going down cos the chineese wont revvalue up quick enouh. That is international trade.

Personally i think its perfectly legal tender, and we saw similar in the yen and sterling and euro various periods. Thats life.

Personally I think its stupid to believe its anything but based on what is going on.

Funny money in the sense that what is bailing out Bear Sterns is one that the FED just creates out of thin air whenever they want to, no accountability, no reporting, no reserves nothing. Just entries in the computer. Where is this bail out money coming from ? The FEDs money tree in the back yard?

By suppressing the dissemination of M3 they have blatantly just created the stuff in huge torrents that like multiple stock offerings dilutes the holdings of those who already have the stuff. IE mine and yours. Hence the on going crash in the dollar vs other currencies and gold.

The world markets think the dollar has become funny money - yes its legal tender in the US but its value by all metrics is erroding very fast and the blatant creation of it is what is transforming it to monopoly money in the long run as we speak.

Seem to be a lot of delluded ideas people have on the dollar and markets IMO. I think its bulletin board stuff. Money supply increases yes, but everyone does that. Why dont people call the £ funny money? or the Yen?

I heard the Yen was printed much more than the dollar. no one calls that funny money.
P
What about the bank of england bailing out northern rock? no one says the GBP is funny money.

just seems stupid to me, but hey thats just one view.

The situation is dire

Dollar down again oil up gold over 1000

Trust in government statistics has been shreded with todays fictious numbers of no inflation.

And the selling in BSC yesterday had nothing to do with todays announcement of HELP WE ARE INSOLVENT. Stock only down 25% today.

Personally I thinks its stupid to call the dollah funny money.

What money is used to buy everything you buy?
In what currency yuo pay taxes?
What currency is a lot of international trade undertaken?

In the dollar. A dollar is a dollar is a dollar. What else is it.

It is going down cos the chineese wont revvalue up quick enouh. That is international trade.

Personally i think its perfectly legal tender, and we saw similar in the yen and sterling and euro various periods. Thats life.

yeah the woes of our economy were caused by everyone else. we can always find someone else to blame like the saudis for rocketing crude prices .

ed rader

The situation is dire

Dollar down again oil up gold over 1000

Trust in government statistics has been shreded with todays fictious numbers of no inflation.

And the selling in BSC yesterday had nothing to do with todays announcement of HELP WE ARE INSOLVENT. Stock only down 25% today.

Personally I thinks its stupid to call the dollah funny money.

What money is used to buy everything you buy?
In what currency yuo pay taxes?
What currency is a lot of international trade undertaken?

In the dollar. A dollar is a dollar is a dollar. What else is it.

It is going down cos the chineese wont revvalue up quick enouh. That is international trade.

Personally i think its perfectly legal tender, and we saw similar in the yen and sterling and euro various periods. Thats life.

yeah the woes of our economy were caused by everyone else. we can always find someone else to blame like the saudis for rocketing crude prices .

ed rader

Those trips to the middle east by our president are really going to meet with the OPECker heads to see how his cut on the revenue is going? We all know the IRAQ oil is being given to those OPECker heads? In return, they promise to keep our gas prices from just being shy of da Moon It is all a Camouflage when they say they are going to check out the conditions on the troops and for peace talks. Give me a break. Checks in the Mail and were are here to help.

Edited by skyymaster, 14 March 2008 - 11:31 AM.

The situation is dire

Dollar down again oil up gold over 1000

Trust in government statistics has been shreded with todays fictious numbers of no inflation.

And the selling in BSC yesterday had nothing to do with todays announcement of HELP WE ARE INSOLVENT. Stock only down 25% today.

Personally I thinks its stupid to call the dollah funny money.

What money is used to buy everything you buy?
In what currency yuo pay taxes?
What currency is a lot of international trade undertaken?

In the dollar. A dollar is a dollar is a dollar. What else is it.

It is going down cos the chineese wont revvalue up quick enouh. That is international trade.

Personally i think its perfectly legal tender, and we saw similar in the yen and sterling and euro various periods. Thats life.

Personally I think its stupid to believe its anything but based on what is going on.

Funny money in the sense that what is bailing out Bear Sterns is one that the FED just creates out of thin air whenever they want to, no accountability, no reporting, no reserves nothing. Just entries in the computer. Where is this bail out money coming from ? The FEDs money tree in the back yard?

By suppressing the dissemination of M3 they have blatantly just created the stuff in huge torrents that like multiple stock offerings dilutes the holdings of those who already have the stuff. IE mine and yours. Hence the on going crash in the dollar vs other currencies and gold.

The world markets think the dollar has become funny money - yes its legal tender in the US but its value by all metrics is erroding very fast and the blatant creation of it is what is transforming it to monopoly money in the long run as we speak.

Seem to be a lot of delluded ideas people have on the dollar and markets IMO. I think its bulletin board stuff. Money supply increases yes, but everyone does that. Why dont people call the £ funny money? or the Yen?

I heard the Yen was printed much more than the dollar. no one calls that funny money.
P
What about the bank of england bailing out northern rock? no one says the GBP is funny money.

just seems stupid to me, but hey thats just one view.

You have it all wrong on number of counts.
1. Britain did NOT bail out Northern Rock -- they nationalized it -- the government took it over. And maybe that is what should happen to Bear Sterns and have it be liquidated like the Carlyle group's hedge fund. It would put the fear of bad decisions back in the board room of banks and brokerages and prevent the never ending rinse repeat cycle.

2 Japan has reserves Britain has reserves. The US has no reserves. We have IOUs that's it, or in nice words T-bills. T-bills are not legal tender. And unlike we used to the FED now operates in secret with respect to money creation that's why its funny money -- no reserves and no transparency.

You have it all wrong on number of counts.
1. Britain did NOT bail out Northern Rock -- they nationalized it -- the government took it over. And maybe that is what should happen to Bear Sterns and have it be liquidated like the Carlyle group's hedge fund. It would put the fear of bad decisions back in the board room of banks and brokerages and prevent the never ending rinse repeat cycle.

2 Japan has reserves Britain has reserves. The US has no reserves. We have IOUs that's it, or in nice words T-bills. T-bills are not legal tender. And unlike we used to the FED now operates in secret with respect to money creation that's why its funny money -- no reserves and no transparency.

in US, it is all about sucking the poors blood, and giving it the rich, no?

Edited by fool_bush, 14 March 2008 - 11:41 AM.