Speaking of Bear Stearns, watch gold, every time it gets close to $1,000 - big financial news comes out, such as a major bankruptcy, etc. The chart is screaming out as a bullish inverted head & shoulders, we could be witnessing huge news coming out soon. Perhaps the GM bankruptcy will trigger a whole host of financial events?
Tomorrow is significant numbers wise = 13.05.2009 (05/13/2009) or => 9.11
It's the date before the excursion to the Bilderberg meeting in Greece, I'd imagine we may even see some significant news occur this Sunday, that's a popular date to air financial laundry, especially after a meeting of the elite of the elites.
I don't think the fear of nationalization of the banks in our country is over, and a reminder is coming soon. Basically the banks are already nationalized in the sense that they are all under private control of the Federal Reserve bank which has the ability to do as it pleases regarding interest rates, and creating or destroying the available money supply.
Ok let's see what happens tomorrow. Retail sales numbers are going to be horrible, but pay attention to any other news which may come out. At this point it should be blatantly clear that GM is bankrupt, it's only a matter of how much our newly-installed socialist government is going to give them. Didn't they just give Chrysler 8 billion to go bankrupt then get taken over by Fiat, what a great deal for Fiat? Who will benefit the most from a GM bankruptcy? Imagine if the same happens to GM except an Asian-based car company takes them over at the hands of free government cheese...
The bigger question is what are the ramifications through the entire financial system of a GM bankruptcy? They are basically a large bank in and of themselves, things are going to get interesting here.
Rumors already out that this Bilderberg meeting will be about a global depression, discussed? Should it be quick or long and drawn out. I'm sure there will be warring factions amongst the elite ranks, keep an eye out and follow the money... Keep an eye to the news here...
Market futures:
*** VALUE CHANGE % CHANGE
Dow 8,418.00 -18.00 -0.21
S&P 500 904.80 -2.00 -0.22
NASDAQ 100 1,381.00 -4.00 -0.29
HI-HO SILVER !!!
