Replies to post #549269 on Zeev's Turnips Patch-No Politics (ZEEV)

[FinancialAdvisor]

westpacific, the whole world and their globally-tied central banks all operate the same way, we're printing money but big red China is buying it. It's an everlasting ponzi scheme. Eventually all paper currencies come to an end, so it'll be interesting the day when the Federal Reserve Note parts ways with the world like the German Mark did.

[was hotlinktuna]

Saw this on China: AP
Stocks Point Lower on China Market Drop
Wednesday May 30, 8:13 am ET
By Madlen Read, AP Business Writer
Stocks Poised to Open Lower After Drop in Chinese Stocks, Ahead of Fed Minutes


NEW YORK (AP) -- Stocks pointed to a sharply lower opening Wednesday as investors responded to a plunge in Chinese stocks and grew wary ahead of the Federal Reserve's release of minutes from its latest meeting.
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Most on Wall Street were hoping the minutes, scheduled to be made public at 2 p.m., would indicate that policy makers are leaning more toward a rate cut by the end of the year than a rate hike.

Meanwhile, a tumble in Chinese stocks rippled through the global markets. When Beijing tripled a tax on stock trading to cool the country's market boom, the main Shanghai Composite Index dropped 6.5 percent and the Shenzhen Composite Index for China's smaller second market slid 7.2 percent.

The retreats in other Asian and European markets did not appear as dramatic as on Feb. 27, when investors around the world recoiled at a 9 percent slide in the Shanghai index.

On Wednesday, Japan's Nikkei stock average fell 0.48 percent; Britain's FTSE 100 fell 0.92 percent; Germany's DAX index dropped 1.18 percent, and France's CAC-40 declined 1.04 percent.

Still, investors were jittery, especially after comments last week from former Federal Reserve Chairman Alan Greenspan, who said the Chinese markets could experience a significant pullback.

Dow Jones industrial futures expiring in June fell 63, or 0.47 percent, to 13,495.

Standard & Poor's 500 index futures fell 7.70, or 0.51 percent, to 1,514.80.

Nasdaq 100 index futures dropped 11.25, or 0.59 percent, to 1,895.25.

Stocks advanced modestly on Tuesday after the long holiday weekend in choppy trading, erratic ahead of the Fed minutes but ultimately lifted by strong consumer confidence data and takeover activity.

In corporate news, Pulte Homes Inc. said late Tuesday it will slash about 16 percent of its work force, or about 1,900 jobs, to save the homebuilder an estimated $200 million a year before taxes.

Bookseller Borders Group Inc. reported late Tuesday a wider loss in the first quarter than in the year-ago period, citing a difficult sales climate.

And the takeover trend continued. Late Tuesday, hardware, software and technology accessory distributor CDW Corp. confirmed that it will be bought by a private equity company for $7.3 billion, while eSpeed Inc., a publicly owned electronic trading house controlled by Cantor Fitzgerald, said it is buying BGC Partners, the New York bond-trading firm's privately held brokerage unit, in a $1.3 billion deal.

The dollar was mixed against other major currencies, while gold prices fell.

Crude oil futures fell 12 cents to $63.03 a barrel in preopening electronic trading on the New York Mercantile Exchange.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com