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Like Iceland was :cool:

ES closed approx. 1085 today on GLOBEX, down 2.2%. Europe down 3.5%. Martin Luther King day 2008 (Jerome Kerviel Day) I believe we got a Fed rate cut right into the open after the holiday, just in time to save the day. I presume this won't happen this time around :cool:

Plenty of liquidity in European markets. All down 3%.

In other news Cyprus drops 11.5% http://www.bloomberg.com/apps/quote?ticker=CYSMMAPA%3AIND :cool:

Good timing with this apocalyptic video game set in Dubai, announced in November 2009. A glimpse into the future? :cool: <object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/i5ZswWcpinw&hl=en_US&fs=1&"></param><param name="allowFullScreen"...

Deja Vu of Martin Luther King Day 2008 :cool:

Prechter on gold: Feb 27, 2009 http://www.reuters.com/article/hotStocksNews/idUSTRE51Q48420090227 On Monday, Prechter forecast that gold had just peaked, at $1,000 an ounce. Nov 04, 2009...

Some of Prechter's gems (from http://www.cxoadvisory.com/gurus/Prechter/), including the recent 200% short call. Note how he was screaming fire as he was "once-in-a-lifetime-bearish" in Oct 2003 after a similar bull move and then he stayed bearish all the way up like a deer in the headlights...

http://www.marketwatch.com/story/elliott-wave-adviser-now-aggressively-bearish-2009-11-25 "But what is news is that, earlier this week, he became even more aggressively bearish than usual: He is now recommending that traders allocate 200% of their stock trading portfolios to shorting the...

Sounds like the Sheiks were betting that this global slump was just a minor bump in the road and things would come roaring back in no time :cool:

Thank God we have websites like John William's Shadowstats ( http://www.shadowstats.com/alternate_data) to remind us we've actually been in one constant, giant recession since 1987! Now THAT is more credible than any non-sense the government fudges in their weekly releases?

Timely commentary on "commodities as a long-term hedge/diversification" dated July 2008 (!), from Hussman, pulling the curtain on the diversification BS: http://hussmanfunds.com/wmc/wmc080707.htm: Never gets old :cool:

More specifically, magically discovering the benefits of diversification exactly when asset prices are rising. How much "diversification" of assets into gold would we be seeing today if Gold had dropped to $600 over the last 12 months? I tell you how much: zero. Our brain is wired to allows...

http://dictionary.reference.com/browse/outline

I always hear "diversification" and "insurance against XZY" and "hedging" during big buying sprees of commodities and also gold. People find all kinds of rationalizations why they have to own a certain asset. Once it backfires the true motive more most is quickly uncovered: speculation...

The keyword here is speculation, nothing else. People always have to find out the hard way.

100% quantitative and mechanical. Takes out the element of psychology and emotion, simplifying things (for me).

Ivan, so true. It would be too funny.

Right. Whenever something gets revised, it is manipulated. Whenever an economic datapoint is positive, it is manipulated. Whenever it is negative, it simply reflects reality! Never underestimate the human desire to spin conspiracy theories and their need to feel they know better than the...

Own and run a secluded farm, outside of wherever the war happens. Be fully self sufficient (livestock, crops etc.). Plenty of guns and ammo. Keep some physical gold in stashes across the globe, e.g. Canada, Switzerland and Australia.