China Diapers
Established member
- Messages
- 536
- Likes
- 35
That's a scary, and big chart.
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
The banks are wobbling like a lot of jellies.
I for one hope they don't collapse because a lot of people will suffer terribly in a new dark age. If the banks collapse through sheer incompetence and greed it will be a tragedy of gi-normous proportions imho
I for one hope they don't collapse because a lot of people will suffer terribly in a new dark age. If the banks collapse through sheer incompetence and greed it will be a tragedy of gi-normous proportions imho
Mr. Crabs
Established member
- Messages
- 598
- Likes
- 3
I've got a hunch the Eurosystem is going to fall and drag the US stock market back into another recession, as profit taking will be necessary in restoring liquidity in stressed markets. So the probable effect would be the financial sector consolidating considering it is overweight currently, but of course this is all my opinion. I expect we have a quarter or 2 before the fireworks are set off by the banking sector.
I figure it's only appropriate the economy gets taken down after we breach new highs after one of the quickest market runs in the history of the market. Profit taking would be only natural, and with the Eurosystem near shock the FED will need an 'excuse' to increase the money supply.
Atilla
Legendary member
- Messages
- 20,848
- Likes
- 4,028
My view is right now we have a lot of opportunity.
Markets will come through this and there will inevitably be some losers but by the same token there will equally be lots of winners too. Those who borrowed will have debts written off and creditors who have lent their excess money may well lose it.
Like energy, money and wealth cannot be destroyed. It simply changes hands. One mans expenditure is anothers income.
As before people can talk it up or talk it down. Sit on the fence etc.
Much ado about nothing.
Good times and new highs just round the corner.
Markets will come through this and there will inevitably be some losers but by the same token there will equally be lots of winners too. Those who borrowed will have debts written off and creditors who have lent their excess money may well lose it.
Like energy, money and wealth cannot be destroyed. It simply changes hands. One mans expenditure is anothers income.
As before people can talk it up or talk it down. Sit on the fence etc.
Much ado about nothing.
Good times and new highs just round the corner.
Atilla
Legendary member
- Messages
- 20,848
- Likes
- 4,028
That's very deep Pat
I don't see armed gangs looting. I see poor people with bowls begging.
Open your heart and your arms.
Happiness is a state of mind. Be your happy go lucky self.
Feast your eyes on these numbers!
Attachments
Last edited:
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
That's very deep Pat
I don't see armed gangs looting. I see poor people with bowls begging.
Open your heart and your arms.
Happiness is a state of mind. Be your happy go lucky self.
Feast your eyes on these numbers!
Must'nt let the situation get one down I guess.
Atilla
Legendary member
- Messages
- 20,848
- Likes
- 4,028
Big hand for Weighted Average who becomes the 3rd participant to take two golds in this quarter.
As we approach the last week of forecast Gaffs has managed to maintain his lead. 6 players are in the running for winning the 1st quarters competition.
Well done to the serial bears timsk & wackypete who have done well for a 2nd week in 12. :clap:
Also, good calls equally by VieGeld, malaguti and carlosd who managed to get the turn right.
Sadly, there will be no mention of any bulls this week.
Podium winners are... :clap::clap::clap:
Vicorka . . . . . . . . . . . Weighted Average . . . . . . . . . Plain old Average
As we approach the last week of forecast Gaffs has managed to maintain his lead. 6 players are in the running for winning the 1st quarters competition.
Well done to the serial bears timsk & wackypete who have done well for a 2nd week in 12. :clap:
Also, good calls equally by VieGeld, malaguti and carlosd who managed to get the turn right.
Sadly, there will be no mention of any bulls this week.
Podium winners are... :clap::clap::clap:
Vicorka . . . . . . . . . . . Weighted Average . . . . . . . . . Plain old Average
Attachments
Last edited:
M
malaguti
well done all; I'll stick to my 1530 again this week...on second thoughts I'm going to say up to 1565
Last edited by a moderator:
timsk
Legendary member
- Messages
- 8,721
- Likes
- 3,421
Well, I suspect it was down to pure luck on Peter's part. Skill and judgement on my part of course. Not!
1,530 for next week please Atilla.
Tim.
Atilla
Legendary member
- Messages
- 20,848
- Likes
- 4,028
Well, I suspect it was down to pure luck on Peter's part. Skill and judgement on my part of course. Not!
1,530 for next week please Atilla.
Tim.
Wise young man once said that even a broken watch tells the correct time twice a day.
Best of luck and well done for sticking to your guns.
VielGeld
Experienced member
- Messages
- 1,422
- Likes
- 179
Gosh darn it. My price would have been hit if the week ended on Thursday.
Swell, can't complain I got a point nonetheless. Congrats to the winners and to the perma-bears in here. :cheesy:
The way it's behaving, I'm thinking it's going up next week. May post Monday morning to see where it's headed first.
Swell, can't complain I got a point nonetheless. Congrats to the winners and to the perma-bears in here. :cheesy:
The way it's behaving, I'm thinking it's going up next week. May post Monday morning to see where it's headed first.
samspade79
Established member
- Messages
- 576
- Likes
- 25
1582
Looks like the gap down last monday was the retrace everyone was waiting on, the Dow sat through a channel all week between 14380-400 and 14500-520 give or take. A beak out on monday should send the dow through to 14620-50 so we might sit around there all week being a short week and all.
So I think we might head to 1570 on the S&P.
1570 for me.
Unless a Cyprus collapses and sends us to 1470 lol.
:cheesy:
So I think we might head to 1570 on the S&P.
1570 for me.
Unless a Cyprus collapses and sends us to 1470 lol.
:cheesy:
Last edited:
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Britain’s largest banks have a combined exposure to Cyprus of more than £1bn, raising the prospect of new losses for the lenders.
Fillings from Barclays (LSE: BARC.L - news) , Lloyds Banking Group (Other OTC: LLOBF - news) , HSBC (LSE: HSBA.L - news) and Royal Bank of Scotland (LSE: RBS.L - news) , show a total exposure to the troubled Mediterranean island of £1.06bn.
Although a tiny fraction of their assets, the collapse of the Cypriot economy could see the banks nursing losses of tens or even hundreds of millions of pounds amid the country’s worsening financial crisis.
Barclays has the largest gross exposure to Cyprus, with £431m of lending and other links to Cypriots, including £102m of exposure to the country’s banks, £120m of corporate lending and £44m of residential mortgages.
RBS has the second biggest exposure of £377m, with £274m of corporate lending linked to Cyprus, as well as £15m of personal lending. Crucially, RBS has no exposure to Cypriot banks, though it does have £2m of assets linked to “other financial institutions”.
In its latest annual report RBS told shareholders that its links to Cyprus comprised mainly “lending to special purpose vehicles incorporated in Cyprus, but with assets and cash flows largely elsewhere”.
HSBC ’s $400m (£265m) exposure to Cyprus is not broken down in detail by the bank, which only discloses that its on-balance sheet assets consist “primarily of loans and advances to other financial institutions and corporates”.
Lloyds has the smallest exposure of the UK’s four largest banks, with £102m of Cyprus-linked corporate lending and £2m of bank exposure.
The main risk to the banks would be the exit of Cyprus from the euro, which could lead to losses of about 40pc of the value of their assets if the loans were redenominated into a new local currency, according to economists’ estimates.
Direct exposures to Cyprus’s main banks are likely to be small to non-existent, meaning any closure or restructuring of one of the country’s main lenders will have a minimal impact on British banks.
Last week, Cyprus’s main banks were forced to remain closed as European officials, local politicians and the Russian government discussed a potential multi-billion bail-out.
Cyprus has in recent years become one of the main offshore centres for Russian money and thousands of Russians live in the country.
Jim O’Neill, outgoing chairman of Goldman Sachs Asset Management, said the eurzone had revealed again that it was a group of 17 countries with very different interests.
He said that most deals seemed to be about what politicians thought they could “get away with” in their parliaments.
“The European Monetary Union (EMU) in effect continues to be a union of 17 countries that don’t see their collective shared interests as the same,” Mr O’Neill said.
“Much decision making is not actually decided by the European Union or eurozone bodies but by key politicians whose main criteria is what they 'can get away with’ with respect to their parliaments.
“Can EMU ultimately survive, or indeed, can EMU survive with this system? Behind the scenes, who is going to win the battle over the immediate resolution of the Cyprus dilemma Moscow or Berlin?”
...
.
Fillings from Barclays (LSE: BARC.L - news) , Lloyds Banking Group (Other OTC: LLOBF - news) , HSBC (LSE: HSBA.L - news) and Royal Bank of Scotland (LSE: RBS.L - news) , show a total exposure to the troubled Mediterranean island of £1.06bn.
Although a tiny fraction of their assets, the collapse of the Cypriot economy could see the banks nursing losses of tens or even hundreds of millions of pounds amid the country’s worsening financial crisis.
Barclays has the largest gross exposure to Cyprus, with £431m of lending and other links to Cypriots, including £102m of exposure to the country’s banks, £120m of corporate lending and £44m of residential mortgages.
RBS has the second biggest exposure of £377m, with £274m of corporate lending linked to Cyprus, as well as £15m of personal lending. Crucially, RBS has no exposure to Cypriot banks, though it does have £2m of assets linked to “other financial institutions”.
In its latest annual report RBS told shareholders that its links to Cyprus comprised mainly “lending to special purpose vehicles incorporated in Cyprus, but with assets and cash flows largely elsewhere”.
HSBC ’s $400m (£265m) exposure to Cyprus is not broken down in detail by the bank, which only discloses that its on-balance sheet assets consist “primarily of loans and advances to other financial institutions and corporates”.
Lloyds has the smallest exposure of the UK’s four largest banks, with £102m of Cyprus-linked corporate lending and £2m of bank exposure.
The main risk to the banks would be the exit of Cyprus from the euro, which could lead to losses of about 40pc of the value of their assets if the loans were redenominated into a new local currency, according to economists’ estimates.
Direct exposures to Cyprus’s main banks are likely to be small to non-existent, meaning any closure or restructuring of one of the country’s main lenders will have a minimal impact on British banks.
Last week, Cyprus’s main banks were forced to remain closed as European officials, local politicians and the Russian government discussed a potential multi-billion bail-out.
Cyprus has in recent years become one of the main offshore centres for Russian money and thousands of Russians live in the country.
Jim O’Neill, outgoing chairman of Goldman Sachs Asset Management, said the eurzone had revealed again that it was a group of 17 countries with very different interests.
He said that most deals seemed to be about what politicians thought they could “get away with” in their parliaments.
“The European Monetary Union (EMU) in effect continues to be a union of 17 countries that don’t see their collective shared interests as the same,” Mr O’Neill said.
“Much decision making is not actually decided by the European Union or eurozone bodies but by key politicians whose main criteria is what they 'can get away with’ with respect to their parliaments.
“Can EMU ultimately survive, or indeed, can EMU survive with this system? Behind the scenes, who is going to win the battle over the immediate resolution of the Cyprus dilemma Moscow or Berlin?”
...
.
