currency market saying something huge is up.

[muldoon]

Last night for no real apparent reason almost every currency on the planet began devaluing huge and the dollar surged.  The dollar is up big, someone somewhere wants/needs dollars in a way I have never seen from casual observation.  This is a liquidation somewhere, and a big one. 

Gold silver have completely dislocated from tracking an inverse of the dollar and are shooting back up. 

I'm trying to find the source but not having much luck yet.  Anyone else track these things? 

[peternap]

I've been w jumped watching it Muldoon, but I don't have a clue. Gold has jumped $28.00 and silver $.42. That would seem logical considering the market, but it hasn't been preforming logically for a while now.

The dollar has me completely puzzled. The Asian markets tanked because of banking worries, but the dollar should have fallen as well. On top of the other bad news, the US Marshall's are at another investment firm because of massive fraud.

That wouldn't do anything to the dollar except adding weight to currency that should be sinking.

Strange!

[Windpower]

http://www.kitco.com/

I keep tabs on kitco routinely

the dollar is up a few cents against th Euro

gold seems to have gotten its second wind

IMO these markets are highly manipulated by the City of London and NY banksters

I do not see any fundamentals that would strengthen the dollar

I just read a very depressing report put out by GEAB 32

http://www.leap2020.eu/GEAB-N-22-is-available!-Global-systemic-crisis-September-2008-Phase-of-collapse-of-US-real-economy_a1298.html

Things do not look very bright for the US
They are predicting a very major 'dislocation' for the US and UK at the end of 2009

dislocation = collapse

[peternap]

I'm taking my financial advice today, from Dr. Seuss!

"I Suggest We Stay in Doors Tonight. I Suggest We Lock Ourselves in Tight. Our Problems are Imence. I Wouldn't Go Out on Grinch Night for $ one dollar and fifty cents!"

[Windpower]

DOW below 7600

there have been predictions that a DJ close below 7561 would put the next resistence level at  


gulp


best case 6600 or so

worst case   3600 ?!?!?

I wish I had put the 401k into cash earlier

but at least I can watch the DOW now with out stomach pains


 http://www.urbansurvival.com/lastweek.htm

[peternap]

I've seen it drop like this way too often....but for some reason, it feels bad today. Gut instinct, yeah...but I've learned to listen to it.

[Windpower]

gold is up in every currency too

I have only seen this a couple times at kitco

most in the 3 to 6 % too

pretty big one day change

damn I wish I was 10 months older I'd pull the 401K now

although I am tempted to just suck it up and take the 10% hit 

[muldoon]

DOW below 7600
there have been predictions that a DJ close below 7561 would put the next resistence level at  
gulp
best case 6600 or so
worst case   3600 ?!?!?
I wish I had put the 401k into cash earlier
but at least I can watch the DOW now with out stomach pains

Back on feb 2nd, I posted my targets were 5500 or 2000 for INDU.  5500 is a healthy drop, 2000 is a panic drop.
http://countryplans.com/smf/index.php?topic=6240.msg81426#msg81426

While I am the first to admit my track record is terrible at predicting dates, I generally get the trends right. 

In russia the exchanges were shut down, both MICEX and RTS halted on lock limits.  When resumed, they fell another 7-8%. 
Nothing on bloomberg or cnbc about either of these when I left the house.

Gold is trading on fear.   I agree on with peternap on the instinct feels wrong comment.  There are patterns to money flows, one thing goes up another goes down, big moves and complete reversals of patterns spook me.  It not being on the news spooks me even more. 

[ScottA]

My guess is whom ever is buying dollars in Asia is going to use those dollars to finance the 787 billion dollar bailout Obama is about to sign. The same bailout that congress never even read.

[Bishopknight]

I had the same thought at you muldoon. Something is afoot.

[Windpower]

I do not know what is going on here, and I don't think I want to.

Someone, apparently someone in Asia, wants dollars.  A LOT of dollars.  There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.

It originated at approximately 7:15 CT this evening and originated out of Asia somewhere.  All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on.  The Asian stock markets got walloped at the same time in coordinated waves of forced selling.


more here

http://market-ticker.denninger.net/archives/801-RED-ALERT-FX-Dislocation-In-Process.html

[NM_Shooter]

Yeah... I don't get it.  We're printing money like mad, and somebody is buying it up?  WTH?