STOCK MARKET WATCH, Friday October 19

[ozymandius]

Source: du

STOCK MARKET WATCH, Friday October 19, 2007

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 459 LONG DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 2470 DAYS
WHERE'S OSAMA BIN-LADEN? 2190 DAYS
DAYS SINCE ENRON COLLAPSE = 2151
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 10
Enron execs conveniently deceased = 3
Other Arrests of Execs = 54

---

U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES

---

AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90
Oil - $27.69/bbl
Gold - $266.70/oz.

AT THE CLOSING BELL ON October 18, 2007

Dow... 13,888.96 -3.58 (-0.03%)
Nasdaq... 2,799.31 +6.64 (+0.24%)
S&P 500... 1,540.08 -1.16 (-0.08%)
Gold future... 768.70 +6.40 (+0.83%)
30-Year Bond 4.78% -0.03 (-0.62%)
10-Yr Bond... 4.50% -0.04 (-0.95%)






GOLD, EURO, YEN, Loonie and Silver

---

PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

---

Read more: du

---

The Radical Fringe cartoon will return soon.

[ozymandius]

1. Market WrapUp: Global Exodus From US Dollar in Motion

BY GARY DORSCH

For the past five years, the official mantra of the US Treasury has been a “strong dollar is in our nation’s interest,” while at the same time reminding traders that “currency values should be set in a competitive marketplace based on underlying economic fundamentals.” Most traders interpret that riddle to mean the US Treasury favors an “orderly devaluation” of the dollar, and won’t intervene to support the greenback as long as its descent doesn’t turn into a nasty rout.

The US dollar has lost more than a third of its value against the the Euro since 2002, and half its value against the Brazilian real. The latest blow to the “strong dollar mantra” occurred on Sept 18th, when the Bernanke Fed slashed the fed funds rate by a larger than expected 0.50% to 4.75%, knocking the US$ Index below the psychological level, and to its lowest level in 15-years.

US Treasury chief Henry Paulson is focusing on booming US exports, which rose to a record $138 billion in August, up 38% from five years ago. A weaker US dollar also inflates the earnings of S&P 500 companies, which earn roughly 44% of their revenue from overseas, mostly in Euros. And Mr. Paulson, the commander and chief of the “Plunge Protection Team,” aims to offset weaker US homes prices with an inflated stock market to keep the US economy from slipping into recession.

-cut-

But the Bernanke Fed’s rate cut to 4.75% also ignited double-digit price increases for agricultural and energy commodities around the globe, and lifted gold 18% higher to $765 /oz, it’s highest in 28-years. The price of West Texas Sweet crude oil has increased by $19 per barrel since Mr. Bernanke began to flood the world with cheap US dollars. Soybeans have climbed 25% to $10 per bushel. Thus, Fed rate cuts, designed to bail out Wall Street brokers and bankers translates into sharply higher food and energy costs for the US and global consumers.

-cut-

Japan was a net seller of $24.8 of Treasuries, and China trimmed its holdings to $400.2 billion in August from $409 billion in July. Foreigners also sold $40.6 billion in US equities, a sharp reversal from net purchases of $21.2 billion the prior month. Foreigners are convinced that Mr. Bernanke has just begun a rate cutting campaign that can drive the dollar sharply lower, and are shifting their capital elsewhere.

http://www.financialsense.com/Market/wrapup.htm

[gateley]

70. I heard someone a LONG time ago predicting the Dollar would be destroyed.

I think that sums it up.

[ozymandius]

2. no goobermint reports due today n/t

[ozymandius]

3. Oil prices surpass $90 a barrel

SINGAPORE - Oil prices surpassed $90 a barrel for the first time in after-hours trading in New York before slipping back Friday in Asia.

Investors are being drawn to energy futures as a hedge against the weakening U.S. dollar. That, plus worries over tensions between Turkey and Kurdish rebels in northern Iraq, has lifted crude oil prices to new records for five straight days.

Light, sweet crude for November delivery rose to $90.02 a barrel in Thursday evening electronic trading on the New York Mercantile Exchange. By midafternoon Friday in Singapore, the contract had retreated to $89.44 a barrel.

-cut-

"The main way the weak U.S. dollar is actually relevant to oil and possibly other commodities such as gold, is that you may have seen some investment in those commodities as a hedge against U.S. dollar weakness and that has pushed up their price," said David Moore, commodity strategist at the Commonwealth Bank of Australia in Sydney.

Data released in recent weeks shows speculative buying of oil futures is on the rise. Many analysts feel the underlying fundamentals of supply and demand do not support oil prices of $90 a barrel.

http://news.yahoo.com/s/ap/oil_prices

[JNelson6563]

6. This is going to get real ugly

I believe the feces is gonna hit the fan soon on gas prices. Hoo-boy.

Julie

[ozymandius]

8. It's pretty clear that we're several miles up Shit Creek.

Question is - can we afford a paddle?

:hi:

[JNelson6563]

19. The price of paddles

At this rate we may need a couple of wheelbarrels full of USD to purchase paddles.

Oy.

Julie

[AnneD]

26. Morning Marketeers...

:donut: and lurkers. Did someone say paddles... I got ya paddles :spank:

Oh, you're thinking of something else.

Well, despite all the rah rah they may say, things are getting grim. One of our favourite eateries closed it's doors. Just not enough business. The food was great and on the weekends he had good traffic, but you can pay the bills on that. Costs were going up fast and he was competing against chains and couldn't compete with their bulk buying I guess. I guess it was better to cut his loses now. My daughter is upset because she wanted him to cater her senior recital. She is devastated as am I.

I broke the news to my Mom that we might move out of the country when we can legally retire from our jobs. I keep telling her that I feel less at home in my country than I ever have. We have these intense political conversations, and I love her dearly, but I am ready to pull my hair out at the lame excuses she makes for the Bush Administration. She still thinks that the MSM is truthful and that Fox is a legitimate news source:eyes: I put try to educate her, and I still love her, but thank GOD she doesn't vote. Anyway, she has a hard time understanding why I feel the way I do. This is one of the reasons why, if we relocate, I need to settle in an English speaking area. I would hate to take care of her in her declining years and no one around her being able to speak English. That would be too much I think.

I just think things are going down the tubes and I am fed up with the DEM's and don't hold out much hope for this election cycle. Hope I am wrong and time will tell-but we're at a precipice here. Unless congress (esp the DEMS)starts behaving like the loyal opposition, the average American is screwed.

Happy hunting and watch out for the bears.

[antigop]

31. I hear ya, AnneD. We've had the same conversation. n/t

[specimenfred1984]

47. We need people like you

Americans (We) need people like you. I know it's horrible constantly dealing with deluded "dead-enders" and selfish people who either don't give a damn or only have enough humanity left to call you every name in the book but, these mindless drones have seen their heyday, they've peaked and are now falling. The people that America needs the most right this very minute are people brave and willing enough to speak the truth.

Enough preaching from me, because I know it's going to be tough recovering from fascism. If you do leave, keep informing Americans from wherever you are because this country is still 1/2 full of propagandized robots who need a few good years of truth thrown at them, not to mention a whole shtload of regulation and enforcement and justice.

[TrogL]

82. Come to Canada

You'll have to get used to our version of English, eh?

[AnneD]

94. Canada is my first choice...

My hubby is from India and there are large Indian communities around so he'll feel comfortable. He is a musician and I am a Nurse so we have skills-even if they aren't valued much here. We are still young enough to start our own businesses. We have retirement-so we won't be a drain in our old age. I think we would make darn good Canadians-besides, I love Smarties-hey;)

[Roland99]

9. Crude tops $90 for first time in electronic trading

Crude tops $90 for first time in electronic trading
Weak dollar, Iraq supply fears, Pakistan bombing all push prices higher
http://www.marketwatch.com/news/story/crude-tops-90-hit-all-time/story.aspx?guid=%7B4C0359B1%2DCA76%2D44E7%2DBD3D%2DB2942D53E1A6%7D

The November-dated light-crude contract peaked at $90.02 a barrel before slipping back to trade down a penny at $89.46.

...

Along with continued fears over supply disruption in Iraq, the news of a bomb attack against former Pakistani Prime Minister Benazir Bhutto, which reportedly left at least 130 people dead, added to upward pressure on crude prices late in the previous session, said Edward Meir at MF Global.

While prices have been surging in recent sessions, volumes have been light, Meir said in a note to clients.

"This suggests that buyers are pushing prices higher in rather thin conditions with relative impunity -- perhaps not that surprising, as presumably there are not too many willing shorts out there," he said.

They're really pushing *anything* as a possible disruption and a reason to hike prices.

[ozymandius]

11. This is like Enron trading.

Everyone knows there's a guaranteed return on their investment in petroleum. I feel like we're being mugged, then mocked by our attacker.

[Roland99]

18. That's *exactly* what I said to someone the other day.

Enron on a worldwide scale.

[ozymandius]

4. Bank of America profit tumbles

NEW YORK (Reuters) - Bank of America Corp, the second-largest U.S. bank, posted a much larger-than-expected 32 percent drop in quarterly profit on Thursday, hurt by mounting credit losses and dismal investment banking results.

The news, the latest in a series of disappointing bank results, dampened confidence about the health of the U.S. consumer and the economy. Stocks fell, bond prices rose, and the dollar tumbled to a record low against the euro. Expectations rose that the Federal Reserve will cut interest rates this month.

"We knew the credit situation was going to be bad, but this was worse than expected," said Michael Mullaney, who helps invest $10 billion at Fiduciary Trust Co. in Boston and owns the bank's shares.

-cut-

Corporate and investment banking profit sank 93 percent to $100 million, from $1.43 billion, as revenue sank 44 percent. Results were hurt by a surprise $607 million trading loss, $247 million of write-downs for leveraged and other loans, and a $527 million loss from structured products, including mortgage debt.

http://news.yahoo.com/s/nm/20071018/bs_nm/bankofamerica_results_dc

[OrangeCountyDemocrat]

14. "WORSE THAN EXPECTED"

There are those Fucking Words AGAIN!!!

"We knew the credit situation was going to be bad, but this was worse than expected," said Michael Mullaney, who helps invest $10 billion at Fiduciary Trust Co. in Boston and owns the bank's shares.

God Damned MAGGOTS!

I know they'll be the first ones bailed out, but my wish would be for IDIOTS like Mullaney to be the first & last to Suffer.

I really think we need to start sending MORONS like him letters, with simply the words...."WORSE THAN EXPECTED!!" Tell them to get a Fucking Sign to put in his office that says..."WORSE THAN EXPECTED!!!!"

Piles Of Shit, that's all these overpaid Economists are.

[PassingFair]

20. Come on now, who could have foreseen....?

:sarcasm:

[Hugin]

30. The article says it was a big 'surprise'...

Right there in black and white. :eyes:

[Warpy]

39. P. T. Barnum was right, and these suckers always think

a bubble is going to expand forever.

Welcome to reality, assholes. Now why not fire a few of those wunderkind economists and hire a couple of grizzled old history professors?

You and your customers would be far better served.

[Hugin]

40. Lets hear it for tweed jackets with leather patches on the elbows...

*rah!*

[Warpy]

42. Actually, the ones I know dress like derelicts

but they've been a hell of a lot better at predicting what's going to happen with this economy than any of the highly paid financial oracles have been.

[Hugin]

43. No kidding, Warpy.

:thumbsup:

[ozymandius]

5. Non-Chinese toymakers eye that market

SHANGHAI, China - For 24 years, toymaker Yoshiritsu has resisted the pull to move to lower-cost China, sticking it out in more costly Japan to meet the exacting demands of its picky customers. But that strategy may be starting to pay off in a new market: China itself.

"We came to see what the market is like," said Hideyuki Noguchi, sales manager for Yoshiritsu, while demonstrating his LaQ brand blocks at the Shanghai Toy Fair. "So far, the reaction is good," he said, citing a number of inquiries. It was the company's first time participating in the annual fair.

-cut-

China's reputation as the world's toy workshop — it handles 60 percent of global toy manufacturing — has taken a battering amid recalls of Chinese-made toys with lead paint or magnets that could be swallowed.

So far, the uproar has had little impact on China's toy exports, which are up 28 percent in the first eight months of the year compared to the same period in 2006.

http://news.yahoo.com/s/ap/20071019/ap_on_bi_ge/china_toys

[ozymandius]

7. Cold medicines for children scrutinized

WASHINGTON - A further shakeup in the marketplace for cold and cough medicines used billions of times each year in treating the youngest children is likely, as government health advisers weigh options from an outright ban to more study.

The Food and Drug Administration expects a recommendation from the joint panel of outside experts late Friday, at the conclusion of a two-day meeting. Its purpose was to determine whether the widely used over-the-counter medicines are safe and work in young children.

The drug industry says the medicines, used 3.8 billion times a year in treating cold and cough symptoms in children, do work and are safe, but agrees more parent education is needed to avoid rare but fatal overdoses.

Pediatricians pushing for greater restrictions in how the medicines are marketed to parents insist the medicines not only don't work but can be dangerous as well.

http://news.yahoo.com/s/ap/20071019/ap_on_go_ca_st_pe/cold_medicines

---

As a parent of an exceptionally healthy child - we have used some of these products in the past, mainly for coughing and only with our pediatricians recommendation. Even recommended products are equally effective as administering water. So our only choice after expensive experiences with over-the-counter "remedies" has been to ride it out. Some herbal teas have been helpful with easing coughs however.

[ozymandius]

10. Growth figure limits FTSE losses

London equities stayed in neutral gear on Friday, after news of stronger-than-expected third quarter GDP growth dashed hopes of an interest rate cut in November.

The FTSE 100 was little changed on the day at 6,606.8, easing back by 3 points. Real estate stocks helped the FTSE 250 rise 0.1 per cent to 11,427.5.

News that GDP rose by 3.3 per cent in the third quarter compared to the previous year, its fastest annual rate of growth in three years, was enough to cool expectations of a November rate cut from the bank of England.

The quarterly increase of 0.8 per cent beat forecasts of 0.7 per cent and was up from 0.6 per cent in the previous quarter.

http://news.yahoo.com/s/ft/20071019/bs_ft/fto101920070547159311

[ozymandius]

12. House fails to override veto of SCHIP (because we cannot AFFORD it?)

WASHINGTON - House Democrats failed yesterday to override President Bush's veto of a bill to expand a children's health insurance program, coming within a dozen votes and promising to continue their push on what House Speaker Nancy Pelosi termed a "banner issue."

The 273-to-156 vote in the House of Representatives was the latest in a series of setbacks faced by the Democratic leadership on key issues that it has championed. When Bush announced his veto of the insurance legislation nearly a month ago, Democrats were optimistic that the program's popularity would leave Republicans wary of standing with the White House.

Yet a major push by the Democratic Congressional Campaign Committee, advocacy groups, and unions proved unable to convert a single Republican who had voted against the bill on Sept. 25.

Pelosi promised to return a new bill to the White House within two weeks, although she gave no indication that she was willing to compromise on the scope of the program or the tax on cigarettes proposed to finance it.

The bill would expand the State Children's Health Insurance Program by $35 billion with a goal of covering 10 million children from lower-income families. Republican critics said the program was a move toward "socialized medicine" by extending coverage to middle-class families and illegal immigrants.

http://www.boston.com/news/nation/washington/articles/2007/10/19/house_fails_to_override_veto_of_schip/

---

Meanwhile - just a few weeks ago...

Bush to ask 195 billion to fund Iraq, Afgan wars: report

WASHINGTON (AFP) — The White House will ask Congress next week to approve another massive spending measure for the wars in Iraq and Afghanistan totaling nearly 200 billion dollars, The Los Angeles Times reported on its website late Saturday.

Citing unnamed Pentagon officials, the newspaper said if President George W. Bush's spending request is approved, 2008 will be the most expensive year of the Iraq war.

US war costs have continued to grow because of the additional combat forces sent to Iraq this year and because of efforts to quickly ramp up production of new equipment, such as mine-resistant trucks, the report said.

The new trucks can cost three to six times as much as an armored Humvee, according to the paper.

The Bush administration said earlier this year that it probably would need 147.5 billion dollars for fiscal 2008, but Pentagon officials now say that and 47 billion dollars more will be required, The Times said.

http://afp.google.com/article/ALeqM5hDiUe4uOqmKp0AODHd9m2RDItHBQ

[OrangeCountyDemocrat]

16. Priorities

It's more important to drive our economy towards financial collapse, and get 4,000+ of our young soldiers KILLED, than spend money on something as ridiculous as Children's Health Care.

[AnneD]

27. I heard that...

GOP were furious with Pete Stark's remarks...and let me quote....

Then Rep. Pete Stark, D-Fremont, grumbled at Republicans: "You don't have money to fund the war or children. But you're going to spend it to blow up innocent people if we can get enough kids to grow old enough for you to send to Iraq to get their heads blown off for the president's amusement."

I heard they are demanding an apology...I hope he'll give one when hell freezes over.


http://www.mercurynews.com/lifeandstyleheadlines/ci_7222042

[Hugin]

32. How did I know this was coming?

I must be psychic. :eyes:

[AnneD]

69. I had hopes....

we worked so hard in our lobbying, and we got support from unexpected areas. And I thought, to cover their own asses-the GOP's would would vote for this because the cost was covered and it was budget neutral. Bush really sabotaged his party on this one. I knew Bush might veto it, but I thought the GOP had more sense than that.
Prag, pass me what ever it is you are smoking....:evilgrin:

[Hugin]

73. AnneD, my dear...

On days like this a pauper is king.

I'm high on life. (mostly) :smoke:

[AnneD]

88. I call...

BS....have a good weekend.:evilgrin:

[Buttercup McToots]

13. USD $77.51...@ 6:58

Gold went over $770 last night...
I think today might be interesting...
Good Morning
:donut:

[OrangeCountyDemocrat]

15. And I'm Suuurrrreee That CNBC Will Spend Time Discussing This

:sarcasm:

[4dsc]

50. I was just wonder the same thing

I wonder what the talking heads are saying about today's markets??

[Roland99]

93. There's some discontent re: the dollar...at least tonight.

[ozymandius]

17. Have a great day folks.

:donut: :donut: :donut:

I'm dashing out the door.

Ozy :hi:

[UpInArms]

21. dollar watch

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 77.484 Change -0.101 (-0.13%)

G7 Meeting to Cause Extensive Yen Volatility, How Can we Trade it?

http://www.dailyfx.com/story/topheadline/G7_Meeting_to_Cause_Extensive_1192714306123.html

Currency trading markets are likely to see extensive volatility in the week ahead, as forex speculators are largely unsure of what to expect from the weekend’s G7 summit in Washington DC. The event has historically forced extensive moves in the Japanese Yen and other major currencies, and this particular meeting should be no exception. Indeed, extended weakness in the Japanese Yen and the US dollar may produce a fairly significant shift in text regarding currency policies among the world’s Financial Ministers. The trade-weighted US Dollar index now remains at its lowest levels in nearly three decades, depreciating nearly five percent since the April G7 summit. The Japanese Yen remains similarly weak, and high-profile comments regarding Asian currencies are likely to make their way into the official statement from the G7 meeting.

The chart below plots the extreme movements in the Japanese Yen following the past three years of G7 events.



came in December, 2005, when the G7 statement made explicit reference to the hope that the Chinese Yuan would continue to appreciate against world currencies. This forced the USDJPY over 500 points lower in 30 days and marked a medium-term turn in Yen sentiment. A similarly pronounced tumble came on the following meeting in April, 2006; unchanged rhetoric following sharp Yen appreciation gave traders the green light to continue sending the USDJPY lower. The similar price reactions highlight an important dynamic in the market’s reactions to such communiqués: the lack of change can be just as market-moving as any notable shifts in rhetoric.

...more...

Dollar Awaits Its Fate Ahead of G-7

http://www.dailyfx.com/story/bio2/Dollar_Awaits_Its_Fate_Ahead_1192788951508.html

A relatively sparse economic calendar and the uncertainty surrounding the outcome of the G-7 meeting later today, kept the major currency pairs in tight ranges on the last trading night of the week. The EURUSD marked time, hovering near record highs, but the pair was somewhat depressed by the latest German PPI news which printed far cooler results than the market expected. The PPI numbers came in at 0.2% versus 0.4% projected while the annual rate slowed to 1.5% - far below ECB’s self imposed limit of 2.0%.

The strength of the euro is clearly having a deflationary impact on pricing in the Euro-zone and therefore raises fresh questions about the need for additional rate hikes from the ECB. Since Mr. Trichet and company have consistently reiterated the fact that their primary focus remains squarely on price levels, today’s report must be viewed as dovish by the market as it shows little need for the European monetary authorities to tighten policy at this time.

None of this may matter with respect to the direction of EURUSD which could continue to climb higher if the Fed decides to lower rates another 25bp in October. This week’s horrid housing and jobless claims data have raised the prospect of such a move to 75% according to the latest pricing of Fed Funds futures. However, Chairman Bernanke must be aware that further monetary easing so soon after the 50bp cut in September, would immediately spur speculation of yet more cuts before the year end and could easily push the EURUSD to the 1.4500 figure within a matter of weeks, destabilizing an already woefully weak dollar.

...more...

[Buttercup McToots]

24. USD $77.36...@9:19 am

:thumbsdown:

[UpInArms]

22. Gold hits 28-year high on dollar

http://www.reuters.com/article/hotStocksNews/idUST687920071019?sp=true

SINGAPORE (Reuters) - Gold rallied to its highest level in 28 years on Friday as investors poured money into the precious metal due a struggling U.S. dollar and tensions between Turkey and Iraq. Platinum held near a record high on supply concerns following the closure of two mines in South Africa. Anglo Platinum (AMSJ.J: Quote, Profile, Research), the world's biggest producer, said it expects to lose up to 1,300 ounces of refined platinum a day after it closed two more shafts at its largest mine.

Spot gold hit a high of $770 an ounce, its highest since January 1980, before dipping to $766.65/767.35, still above $763.90/764.70 seen late in New York on Thursday.

Gold has gained 20 percent this year on fund buying driven by record-high oil, the Federal Reserve's surprise move to cut interest rates by 50 basis points, a weak U.S. dollar and recently, tensions in northern Iraq.

"We'll get to $800 within this year. The dollar will get weaker year by year," said Yukuji Sonoda, a precious metals analyst at Daiichi Commodities in Tokyo.

A weaker dollar makes dollar-priced gold cheaper for holders of other currencies and lifts the metal's appeal as an alternative investment.

Gold hit a record high of $850 in January 1980. After adjusting for inflation, that level was equal to $2,079 an ounce at 2006 prices, according to metals consultancy GFMS Ltd.

...more...

[UpInArms]

23. $850 in January 1980. After adjusting for inflation, that level was equal to $2,079

and they keep telling us that there is "no inflation"!



I say that there is inflation and give us the double digit number that should be assigned - or quit "adjusting for inflation"!

[DemReadingDU]

29. Gold is high,

but it is too high to buy, and then lose the investment when gold decreases. Who can say that gold will increase forever?

:(

[CountAllVotes]

63. gold "bugs" (aka smart people) predict $3,000.00 an oz.

within the decade.

If this is true, $800.00 an oz. could be a great deal!

[DemReadingDU]

78. But, gold could also deflate back to $250 oz

It's a casino

:)



http://www.kitco.com/charts/historicalgold.html
to view the chart, check the box for multi year gold 1975 - 2007

[TrogL]

84. Gold bugs always say "buy gold"

Economy's good, "buy gold".

Economy sucks, "buy gold".

Stocks going up "trade everything and buy gold"

Stocks going down "trade everything and buy gold"

[Buttercup McToots]

75. Dem

Atleast gold is real....the dollar is paper and it's value
is falling fast...
Goldbugs are pedicting gold/silver to shoot the moon....

I plan on being in that spaceship
:)

[DemReadingDU]

77. Is it better to buy bars or coins of gold?

or is it better to buy shares to a gold index fund?

$800 is a big wallop to invest at 1 time for an ounce of gold.

[Buttercup McToots]

80. You could start there...

I buy shares of PM stocks outright...

physical
Places to look to buy gold and silver;
Try placing an advertisement in your local newspaper ie. coin collector buying old coins yady yada.....
Try asking the local bank tellers if they have old coins or find old coins you'll buy them.
Ebay and yahoo auctions,estate auctions
coin dealer/ precious metal dealers
local pawn shop

If you are buying to get in on the huge increase in prices many of us feel is just around the corner, you want to buy the most metal for your money and at the same time not buy anything that will have a discount when you sell it in the future. 100 oz. Silver bars did in the past and will in the future have a assay charge discount because of the number of tampered bars that showed up in the 80’s.

If you are buying as an insurance policy for when the frn’s (Federal Reserve Notes) become worthless, then you want to buy things that are most recognizable to the most people.

First, buy 90% silver dimes, which contains .0724 oz of silver, then buy 40% halves, which contain .1479 oz. of silver. Next, buy 90% quarters, which contain .181 oz of silver and then 90% halves, which contain .3619 oz. of silver. Above that, go into gold. start with 1/10, 1/4, 1/2, and finally, 1 ounce.




:)

[DemReadingDU]

85. Thanks for the tips

I want these
http://en.wikipedia.org/wiki/Gold_as_an_investment


:hi:

[Buttercup McToots]

86. Purtty

But I like those new presidental spouse coins...
sigh
I'm gonna get one...

Have a good weekend
Bye:hi:

[DemReadingDU]

87. Those are awesome

I've been collecting all the state quarters, and starting to collect the new presidential dollar coins. Now I need to collect the presidential spouse gold coins!
http://www.usmint.gov/mint_programs/firstSpouse/index.cfm?flash=yes

Have a great weekend!



:hi:

[CountAllVotes]

89. don't waste money on those coins

they a faux - made not of even silver muchless gold; zinc for the most part. You'd be better off buying silver eagles IMO.

They only gold coins made were the presidential spouse coins. Those buffalos are very cool too. Keep your eye open for one if you can.

Check here to buy/sell gold/silver, etc.: www.golddealer.com

I've done business w/them in the past. :thumbsup:

Lots of crooks in this "business" btw.

[DemReadingDU]

92. Oh, I get the coins as change from the store

and save them in a pretty folder for the grandkids. They're not for an 'investment'.

Gold and silver, however, would be for investment. I've been reading about precious metals, and realize I need to do something as the value of the dollar is decreasing almost every day. :(

Thanks for the link, I will check it out.
:)

[Buttercup McToots]

96. Thank you Count

Much appreciated:)

[Roland99]

25. 10 min. in and Dow is down 111!!

Dow 13,777.35 -111.61
Nasdaq 2,782.72 -16.59
S&P 500 1,527.29 -12.79
10 YR 4.47% -0.04
Oil $89.50 $0.03
Gold $773.40 $4.70


1 min. later...

Dow 13,759.71 -129.25

[AnneD]

28. Wonder if the...

sump pumps will work today.....

[Hugin]

35. It'll be a curbs day...

They have a number of band-aids at their disposal.

I just finished reading about Citi's plan for dumping all of those garbage SIVs, CDOs, and other assorted
flotsam into an off-the-books fund to let the real mortgages and other investments they mixed in to the
filler junk float to the top so they can scrape it off like cream... and THE TREASURY IS HEPPING!

I can't stand it.

[Buttercup McToots]

33. Ouch!

:wow:

[JNelson6563]

34. Blood everywhere

10:52 am

Dow 13,704.35 -184.61 -1.33%

Nasdaq 2,763.02 -36.29 -1.30%

S&P 500 1,522.42 -17.66 -1.15%

[OrangeCountyDemocrat]

36. HAPPY ANNIVERSARY!!!

Didn't realize that Today was 20th Anniversary of the "Crash."

Way to celebrate it guys!!

Stay Strong! I really want you to show how you feel. I know you can't match it, but for a real tribute, you gotta do better than -200.

Let's take it to -400 or -500. Make it an Anniversary To Remember!!

Watch out for the bears. Like myself.

[Hugin]

38. ...

:party:

[AnneD]

49. It was the closest that I had ever...

"timed" something. I had my stocks stop lossed and they sold on the Wed or Thursday before the crash. I was just holding on to the cash. Boy, when I went back in-I picked up some good bargins in the days that followed. This was before computers and all. If it devalues now, I don't know if I will buy or not. I still don't like the fundamentals of the economy.

:party: Wonder how they will pull this economy out of the crapper.

[Hugin]

54. I remember it like it was yesterday...

I was sitting in an early morning college class when we got the word. Just about everyone left early.

I was so totally broke in those days... I didn't lose a thing. In fact, by the end of the day I was worth
more than many of the people I knew. It was an odd reality. It was my Trump Moment.

It was very educational. I learned much about debt and why to avoid it on that October day in 1987.

:party:

[Maeve]

59. What I remember is casually telling a friend that the market was due for a correction

That day, while we were out shopping. Came home and found out the market had corrected itself no end...

Someone probably ought to say something here about those who do not remember the past...

[AnneD]

90. I remember....

Louis Rukeyser did a wonderful piece at the end of his show where he told folks to keep things in perspective.

"It's just your money. It's not your life. The figures on a broker's report mean little compared to that. The people who loved you a week ago still love you today." he said with that smile he always had.

I remember his broadcast the most. Good food for thought.

[Hugin]

37. O' ten hundred ET... Clunk!

Index Last Change % change
• DJIA 13683.62 -205.34 -1.48%
• NASDAQ 2756.41 -42.90 -1.53%
• S&P 500 1519.62 -20.46 -1.33%

[UpInArms]

41. Spitting into the wind: Fed adds just $3.25 bln in reserves via repos

http://www.reuters.com/article/bondsNews/idUSN1928460520071019

NEW YORK, Oct 19 (Reuters) - The U.S. Federal Reserve provided a modest amount of liquidity to the banking sector on Friday, adding $3.25 billion in temporary reserves to the banking system through three-day repurchase agreements.

This follow's an addition of $28.25 billion in three repurchase operations on Thursday, which is usually the most active day of the week for repos. Friday's operation was the lowest daily total this week.

Federal funds last traded in the market at 4.75 percent, matching the Fed's target rate of 4.75 percent but up from the 4.69 percent effective rate of the previous session.

In the three-day operation, dealers submitted a total of $56.3 billion worth of bids. Collateral accepted was comprised of $200 million in Treasuries and $3.05 billion in agency securities.

...a bit more...

[Hugin]

44. BREAKING: Clunk!

Index Last Change % change
• DJIA 13674.93 -214.03 -1.54%
• NASDAQ 2756.66 -42.65 -1.52%
• S&P 500 1518.75 -21.33 -1.39%

[Roland99]

45. Dow now -250

[AnneD]

53. I can't decide if our theme song should be...

Paul Simones Slip Sliding Away...or...

Steve Miller's Time Keeps On Slipping Into the Future.:think:

[Buttercup McToots]

62. 304...!

ewwww
It's all red and bloody...:yoiks:

[UpInArms]

46. Bernanke shows lack of humility by opening Piehole

14. Bernanke: Central banks shouldn't overreact to current data
10:00 AM ET, Oct 19, 2007 - 1 hour ago

15. Bernanke: Humility key in forecasting, managing economy
10:00 AM ET, Oct 19, 2007 - 1 hour ago

[KoKo]

48. An article Marketeers might find interesting... Dems .finance and politics...

Kind of goes along with Krugman's worry about all the donations going into the Democrats coffers and the strange bedfellows that are involved. It's a long read...and reporting was funded in part by the Nation Foundation.


http://www.realnews.org/stories/2007-10-16_hillary.html

[AnneD]

51. THIS....

is why I am not so comfortable with our government and why I am thinking of a change of scenery...met the new boss, same as the old boss.

[KoKo]

52. International Finance connections make it

hard to know who is the boss even in those places with "different scenery" though. :-( Globilization ....

[antigop]

68. Ain't that the truth! N/T

[CRH]

72. The future economic power that drives the politics in nation states, ...

is already safely in the hands of a global elite. It is the common economic self interest of these global elites, that will continue to shape the future political circuses in select nations.

Globalization has given the phrase 'the new world order', distinct meaning. As illustrated in the free trade agreements that subjugate the masses and the sovereignty of nation states, the internal politics and legislation of countries have been designated as inferior to global corporate profits.

When the politics become a liability to those profits, as the disorder caused by the Bush administration has done, then the corporate funding flows into the coffers of other corporate politicians. So Hillary receiving funding from Bush financiers, falls right in line, as does the two decade shift of the democratic party into being the junior partner of corporate politics. When a softer political approach throughout the world will provide a more predictable and stable profit environment, democratic administrations are acceptable, at only the price of shifting some of the larger profits away from military contractors and armaments, and into other sectors.

As for a country or locale that offers a different boss than the present, that might be hard to find, IMHO.

edit: for punctuation

[Roland99]

57. Which is why I support Kucinich.

[Roland99]

55. 12:24pm - Obviously the markets were oversold.

:sarcasm:

Dow 13,704.27 -184.69
Nasdaq 2,765.67 -33.64
S&P 500 1,522.46 -17.62
10 YR 4.41% -0.09
Oil $88.75 $-0.72
Gold $768.00 $-0.70

[Hugin]

56. Obviously.

:eyes:

[SidDithers]

58. Where's TrogL? I need my Loonie Watch!...

USD down more than 1% vs CAD so far today.

1 USD = .9641 CAD at ~1:20 pm ET today.

Sid

[Warpy]

60. Try this site

http://www.xe.com/

It updates frequently.

[TrogL]

83. Sorry I'm late

it's down below

[SidDithers]

97. No worries...

just gotten in the habit of checking your post lately, and it's usually up by my lunchtime.

:hi:

Sid

[dweller]

61. CBS radio news

just said Dow down 280?

thought i'd check here, but don't see any recent updates...

dp

edit: just caught McToots update upthread.

[capi888]

64. Dow down 337

Nt

[AnneD]

65. Wonder how many....

surprised eCONomists there are on the weekly wrap ups tonight. :eyes:

[spinbaby]

67. More than 350 now

How long will it take Chimpy to whine that the economy's good?

[UpInArms]

66. 7 minutes to close - DOW down 352 points

Dow 13,536.57 352.39 (2.54%)
Nasdaq 2,730.79 68.52 (2.45%)
S&P 500 1,502.70 37.38 (2.43%)
10-Yr Bond 4.401% 0.102

NYSE Volume 2,607,922,250
Nasdaq Volume 2,189,505,000

3:30 pm : The bears are in control as the market slips further. The three major indices are at new session lows and down at least 2.3%.

The energy sector (-3.8%) is currently the main laggard. The sector, however, is still the leader this year, as it is up 31.9% year-to-date.

The ten-year note closed up 26/32, pushing its yield down to 4.39%

Next week brings another barrage of earnings reports. Some notable names set to report on Monday include, Merck (MRK 53.52, +0.13), American Express (AXP 57.44, -1.22), Apple (AAPL 172.48, -1.02) and Texas Instruments (TXN 33.98, -0.42)

DJ30 -322.54 NASDAQ -67.00 SP500 -35.74 NASDAQ Dec/Adv/Vol 2405/546/1.88 bln NYSE Dec/Adv/Vol 2652/594/1.29 bln

3:00 pm : Downward pressure persists, as the indices trade into new session lows. The major indices are now trading with losses close to 2.0%.

The financial sector (-2.5%) continues to lag. All of its industries are in the red, with investment banks & brokerages (-4.0%) down the most.

Defensive sectors are performing slightly better. The telecom (-0.4%), consumer staples (-0.5%), healthcare (-0.7%) and utilities (-1.7%) sectors are performing relatively well. DJ30 -282.89 NASDAQ -52.87 SP500 -30.02 NASDAQ Dec/Adv/Vol 2302/630/1.70 bln NYSE Dec/Adv/Vol 2616/623/1.17 bln

[Hugin]

71. 16:00 ET: For whom does the bell toll?

Index Last Change % change
• DJIA 13522.02 -366.94 -2.64%
• NASDAQ 2725.16 -74.15 -2.65%
• S&P 500 1500.63 -39.45 -2.56%

[Deja Q]

74. Well, the banks need to clean up their mess. I don't think another rate cut will help much.

Not in the long term, especially if everybody is kooked out because of fears of a plunging dollar value and inflation - isn't that what happens when the interest rate is cut, as it had in August?

[AnneD]

76. And pumping money....

won't solve the problem either.

[MilesColtrane]

79. Cue Mr. Fagen and Mr. Becker

When Black Friday comes I'll stand down by the door
And catch all the grey men as they dive from the fourteenth floor
When Black Friday comes I'll collect everything I'm owed
And before my friends find out I'll be on the road

When Black Friday falls you know it's got to be
Don't let it fall on me

When Black Friday comes I'll fly down to Muswellbrook
Gonna strike all the big red words from my little black book
Gonna do just what I please, gonna wear no socks and shoes
With nothing to do but feed all the Kangaroos

When Black Friday comes I'll be on that hill
You know I will



When Black Friday comes I'm gonna dig myself a hole
Gonna lay down in it till I satisfy my soul
Gonna let the world pass by me, the Archbishop gonna sanctify me
And if he don't come across I' m gonna let it roll

When Black Friday comes I'm gonna stake my claim
I guess I'll change my name

[TrogL]

81. Loonie Watch

(better late than never)

Highlights

Current:



30-day and 90-day vs.greenback:



30-day vs. Euro, Yen, UK Pound and Swiss Franc




Currency Comparison: http://members.shaw.ca/trogl/looniewatch.html

Detailed analysis: http://quotes.ino.com/exchanges/?r=CME_CD

Up-to-the-minute graph: http://quotes.ino.com/chart/?s=CME_CD.Y%24%24&v=s&w=5&t=l&a=1

Historical values http://www.x-rates.com/d/USD/CAD/data30.html

2007-09-19 Wednesday, September 19 0.985513 USD
2007-09-20 Thursday, September 20 0.998901 USD
2007-09-21 Friday, September 21 0.999201 USD
2007-09-24 Monday, September 24 0.998901 USD
2007-09-25 Tuesday, September 25 0.9995 USD
2007-09-26 Wednesday, September 26 0.99552 USD
2007-09-27 Thursday, September 27 0.99691 USD
2007-09-28 Friday, September 28 1.00412 USD
2007-10-01 Monday, October 1 1.00715 USD
2007-10-02 Tuesday, October 2 0.9998 USD
2007-10-03 Wednesday, October 3 1.00392 USD
2007-10-04 Thursday, October 4 1.002 USD
2007-10-05 Friday, October 5 1.01885 USD
2007-10-08 Monday, October 8 1.01885 USD
2007-10-09 Tuesday, October 9 1.01564 USD
2007-10-10 Wednesday, October 10 1.01906 USD
2007-10-11 Thursday, October 11 1.02627 USD
2007-10-12 Friday, October 12 1.02701 USD
2007-10-15 Monday, October 15 1.02501 USD
2007-10-16 Tuesday, October 16 1.0227 USD
2007-10-17 Wednesday, October 17 1.02712 USD
2007-10-18 Thursday, October 18 1.02743 USD
2007-10-19 Friday, October 19 1.03767 USD


Current values

http://quotes.ino.com/exchanges/?r=CME_CD)

Market            Open   High    Low   Last  Change    Pct 
CD.Y$$ Cash        1.0346 1.0378 1.0344 1.0366 +0.0093 +0.91% 
CD.Z07 Dec 2007    1.0352 1.0383 1.0348 1.0368 +0.0095 +0.92% 
CD.H08 Mar 2008    1.0355 1.0372 1.0355 1.0367 +0.0093 +0.91% 
CD.M08 Jun 2008    1.0283 1.0283 1.0247 1.0367 +0.0093 +0.91% 
CD.U08 Sep 2008    1.0360 1.0378 1.0360 1.0364 +0.0092 +0.90% 
CD.Z08 Dec 2008    0.9530 0.9530 0.9530 1.0355 +0.0085 +0.83% 
CD.H09 Mar 2009    1.0055 1.0060 1.0050 1.0346 +0.0078 +0.76% 

Other combinations:

AU.Z07 AUSTRALIAN $/US$ Dec (NYBOT)          0.89275 -0.00015 
HY.Z07 CANADIAN $/JAPANESE YEN Dec (NYBOT) 118.20    +0.20 
GB.Z07 EURO/BRITISH POUND Dec (NYBOT)        0.69890 -0.00225 
EP.Z07 EURO/CANADIAN $ Dec (NYBOT)           1.3803  -0.0128 
EJ.Z07 EURO/JAPANESE YEN Sep (NYBOT)       163.18    -1.24 

Blather (from http://quotes.ino.com/exchanges/?r=CME_CD)

The December Canadian Dollar gapped up and closed sharply higher on Friday marking an upside breakout of this week's trading range as it extends this fall's rally into uncharted territory. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought, diverging but are turning bullish signaling that sideways to higher prices are possible near-term. Upside targets are hard to project if December extends this fall's rally into new uncharted territory. Closes below the 20-day moving average crossing at 1.0132 are needed to confirm that a short-term top has been posted. First resistance is Today's high crossing at 1.0383. First support is today's gap crossing at 102.77 then the 10-day moving average crossing at 1.0243.


Analysis

CBC morning drive-in mentioned a pulp mill closing in Drayton Valley. They loonie's so high that the lumber is unmarketable at current prices.

I was calling for a $1.03 by Friday so it's right on time. If things keep crashing the way they are, I can't begin to predict a top.

[JNelson6563]

91. Break out the power-washers

That's the only way they'll get all this blood cleaned up in time for Monday.

Nasty stuff!

Julie

[AnneD]

95. Don't forget the hazmat suits...

Universal precautions you know:spray: