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Didn't expect this big of a jump in the DOW today.

Discussion in 'Off Topic' started by OLDNEWBIE, Dec 18, 2013.

  1. OLDNEWBIE

    OLDNEWBIE State of Flux Well-Known Member

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    “This is a toe in the tapering water, the absolute minimum reduction the Fed could announce without looking timid,” economist Ian Shepherdson of Pantheon Macroeconomics wrote in a note to clients following the announcement. “Still, it is the first step away from incremental easing since July 2006, so it is significant"


    I sold a big, (for me, loose change for some of you!) position I was holding today. I don't know what's going on but I thought Taper = market down.
    The only thing I can see is Bernanke is still going to print money until unemployment is better than 6.5 % or something like that and this that he did today was just for show.
    Anyway I got out when it jumped, what are you informed gamblers doing today?
     
  2. Burt Gummer

    Burt Gummer Portland Completely Out of Ammo

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  3. 3MTA3

    3MTA3 DMZ between Liberty and Tyranny Behind Enemy Lines Bronze Supporter

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    The bubble is always biggest when it bursts. How many of them do we need to see before we recognize that ANY bubble in the market is just a way to transfer money from the small fry to the big guy. If you aren't buying when others are selling or the opposite you are the sheep that's getting fleeced. Your best bet is to get out of currencies altogether. Quantitative Easing is just a way for the Government to impose a tax on you without even passing a law. Here is an oversimplified explanation:

    Suppose there are only $100 in the world. Each dollar has a set value in what it can purchase, let's say a loaf of bread is $1, and you have $4, so you can buy 4 loaves of bread. The Government "borrows" $100 from the Fed for QE. There are now $200 in the world. The buying power of your dollar goes down 50% due to inflation caused by supply and demand. Your $4 now buys 2 loaves of bread instead of 4. What has happened is that some, in this case half, the buying power of your hard earned cash has been transferred from your pocket to the Government. What is a tax that isn't a tax...

    You have no control of how much purchasing power the Government will take from your cash/investments. None, whatsoever. There is no incentive for the Government to take mercy on you, especially since 99% have no idea what is going on even if you spelled it out for them fifty different ways.
     
  4. BAMCIS

    BAMCIS Eugene Well-Known Member

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    Gold
     
  5. Certaindeaf

    Certaindeaf SE Portland Well-Known Member

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    They always say buy low sell high.. what's gold now, $5/lb? just kidding!
     
  6. OLDNEWBIE

    OLDNEWBIE State of Flux Well-Known Member

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    Gold won't see another big jump until someone produces concrete evidence that Ft.Knox is indeed empty.:noway: