Thursday, October 13, 2011

Big Trouble Brewing


This is a piece out today from Chris Martenson. Chris is a very thoughtful analyst and, as he says, not given to hyperbole. Also, tomorrow I will be travelling, so I may not get to post. Have a good weekend.

"I do not toss around the idea of a market crash lightly.  If you've been following me long enough, you know that only in very rare instances do I issue a cautionary Alert (I've only issued four since my website launched in 2008), and I am generally not given to hyperbole.

Let's be clear: I'm not issuing an Alert at this time. But I am concerned that a materially adverse disruption to the financial markets is increasingly likely in the near future.

Perhaps a definition will be helpful as we begin. A 'market crash' is an event where there are no bids to meet a wall of selling. The actual amount of the percentage decline is less important to note than the amount of chaos, or loss of control, that a given market experiences. Some like to say that a market downdraft requires a decline of 10%, or maybe even 15% or 20% (or more), in order to qualify as a 'crash.' For me, the key factor is not so much the amount of the decline, but the pace of the decline...more"

Gold in New Zealand dollars: $1862.73 per oz
Previous all time high: $2284.16 per oz (19 Aug, 2011)

Silver in New Zealand dollars: $54.08 per oz
Previous all time high: $59.19
per oz (30 Apr, 2011)
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