The Fresh Prince of Saudi Arabia is upping his stake in Citigroup Inc. [[C]] to 5% and said they (Citi) have secured 50 billion in private funding.
Excuse me? 50 fucking billion.
That has to be dilutive.
Bottom line: Citigroup Inc. [[C]] is too big to fail and to save. It’s one of those conundrums that must keep the Treasury and Fed Chiefs up at night. Under normal circumstances, Citi should rally on this news and drag this whore of a market, by the hair, with it. However, we’re just in death spiral mode now, saddled by crashing commodity and employment markets.
Just watch C.
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He’s doubling down like Joe Lewis possibly. Where the fuck did they get the “private funding” and why is it dilutive (private funding). Does this mean they have been or about to be short of funds?
Fme.
C
Conundrum
Crash
Cunt
Good mornin’ everybody!
Fly, is the low round number of 50 a possible bounce point for oil, even if it is only a short lived temporary bounce?
Are you selling out the other 50% of DUG? Looking at DIG?
Fly-
Citi is not the only whore on the street that will get beat down by those shitty assets on their books.
Who do you think is next to be beat up?
MS? GS?
I have been shorting GS for months now and counting coin on the way. Does she go to 40? or even 30?
Euro/yen falling not good.
Rick Santelli for Treasury Secretary!!
Get this fool Art Hogan off my Screen. Fuck this asshat.
pay attention—
Hip Hip – I agree!!! Santelli is the only one on CNBC with brains. He tells it like it is.
Nice one, mrkcbill!
-DT
front month oil under $50/barrel.
So that’s it. Oil sands is unprofitable and so is a lot of deep-sea drilling.
If people were smart they’d lock in all the oil they can at these prices. It’ll take months — but supply at these prices will eventually dry up.
I announced it here on iBC yesterday at 4:02pm, but you all ignored me.
T MOE…seriously, Art Hogan is not a stupid man. He has more knowledge in his left pinky than you have in your entire body. So he took a chance, called a bottom based on the facts at that time. Shit happens, things change. Hell, the Fly changes his take on the market every 5 minutes…why is Art Hogan an asshat then? Get a grip you friggin douchebag.
Phil
The towel head is going to increase his stake by $340 at market levels… big fucking deal..
His current holding is 4% at market rate so going up 1% is crap.
Sir douch, they would if they could actually borrow the money they need to increase supply, and if they actually had the cashflow to pay for whatever they borrow.
Banks are dead, they have no reason to exist, they don’t even lend anymore.
no need to make fun of towels.
The Trade Artist
Robert Prechter Explains the Price Effects of Inflation and Deflation
Posted: 19 Nov 2008 09:08 PM CST
November 19, 2008
Editor’s Note: On Nov. 19, 2008, the U.S. Labor Department reported a 1 percent drop in the consumer price index for October 2008. The drop marked the largest decline in 61 years, and it was the first decline in that measure in nearly a quarter of a century. The 1 percent drop was twice as large as many mainstream analysts had forecast. Such a large decline in consumer prices is forcing U.S. policymakers to rethink the possibility of deflation in America. For more on deflation, we turn to Robert Prechter, the man who literally wrote a book on how to survive it. The following article, adapted from Prechter’s book Conquer the Crash – You Can Survive and Prosper in a Deflationary Depression, will help you understand exactly what to expect from deflation.
In addition to this article, visit Elliott Wave International to download the free 8-page report, Inflation vs. Deflation. It contains details on which threat you should prepare for and steps you can take to protect your money.
By Robert Prechter, CMT
Before explaining the price effects of inflation and deflation, we must define the terms inflation, deflation, money, credit and debt.
Webster’s says, “Inflation is an increase in the volume of money and credit relative to available goods,” and “Deflation is a contraction in the volume of money and credit relative to available goods.”
Money is a socially accepted medium of exchange, value storage and final payment. A specified amount of that medium also serves as a unit of account.
According to its two financial definitions, credit may be summarized as a right to access money. Credit can be held by the owner of the money, in the form of a warehouse receipt for a money deposit, which today is a checking account at a bank. Credit can also be transferred by the owner or by the owner’s custodial institution to a borrower in exchange for a fee or fees – called interest – as specified in a repayment contract called a bond, note, bill or just plain IOU, which is debt. In today’s economy, most credit is lent, so people often use the terms “credit” and “debt” interchangeably, as money lent by one entity is simultaneously money borrowed by another.
When the volume of money and credit rises relative to the volume of goods available, the relative value of each unit of money falls, making prices for goods generally rise. When the volume of money and credit falls relative to the volume of goods available, the relative value of each unit of money rises, making prices of goods generally fall. Though many people find it difficult to do, the proper way to conceive of these changes is that the value of units of money are rising and falling, not the values of goods.
The most common misunderstanding about inflation and deflation – echoed even by some renowned economists – is the idea that inflation is rising prices and deflation is falling prices. General price changes, though, are simply effects of inflation and deflation.
The price effects of inflation can occur in goods, which most people recognize as relating to inflation, or in investment assets, which people do not generally recognize as relating to inflation. The inflation of the 1970s induced dramatic price rises in gold, silver and commodities. The inflation of the 1980s and 1990s induced dramatic price rises in stock certificates and real estate. This difference in effect is due to differences in the social psychology that accompanies inflation and disinflation, respectively.
The price effects of deflation are simpler. They tend to occur across the board, in goods and investment assets simultaneously.
…………….
For more information on deflation and inflation, including money-saving steps for protecting your wealth, download Elliott Wave International’s free 8-page report, Inflation vs. Deflation.
Robert Prechter, Certified Market Technician, is the founder and CEO of Elliott Wave International, author of Wall Street best-sellers Conquer the Crash and Elliott Wave Principle and editor of The Elliott Wave Theorist monthly market letter since 1979.
I am making a call right now, everything is going to zero. Its over with. Sell it all.
By the way that includes SRS, SKF and the other inverses. Pretty soon people will become so negative they will sell those too and they will go to zero.
Phil-
Fuck you, Fuck Art Hogan and his left pinky, and Fuck his bottom. I guess I was too stupid to go long on his bottom call and watch all evaporate in this shit hole of a market. I stay with my dumb ass and short this bitch all the way down and short Art Hogan
hello fives
glad to see that the tarp has proved to be worthless. maybe they should call it taraq.
Fuck Art Hogan and his left pinky, and Fuck his bottom.
You absolutely sure that’s what you wanna do, moe?
GE, C and BAC all in the danger zone.
T MOE…who you are speaks so loudly…people can’t hear what you are trying to say.
Please move to a yahoo board where you belong.
soon to be parabolic
HK just took a shit, maybe we can get under 10 today. I shorted some at the open.
Prepare to bleed through your eyeballs. The market will never be green again you fucks. Die die die.
ROM will be at zero in a day or two.
I am still short some GS. May cover a few here at 52. I still think she goes to 40 if the rest of the banks continue to bleed
We’re gonna need a bigger boat!
anyone remember what the color green looks like?
Still short AXP and COF those bastards are going to die in this environment. Along with MCO and Ambac
j- If you want to see green look at SKF over the past month. Now thats green!!!
Or you could look at my account and DevilDog’s
Or mine. I’ve been harping on the Direxion 3x iETFs since their release.
Alright fuckers. Covered all my shorts. Going long here and will continue to add via selling calls on SKF SRS QID SDS SMN . Rally 1000 points in the next 30 hrs. Sentiment is way too negative. If the world ends we are all dead. If it doesn’t I am rich. I win either way.
Foreign investors recently are buying our T-Bonds and Notes like crazy. Sept 07 = 13.2B vs. Sept 08 = 115.4B
Reference:
http://www.ustreas.gov/press/releases/hp1278.htm
Check this out:
Asian oil producing countries including Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States)-
August ’08 = US TBonds (+$1,363M), Agency Bonds Net (-$3,027M)
Sept ’08 = US TBonds (+$6,765M), Agency Bonds (-$1,490M)
Reference: http://www.ustreas.gov/tic/snetus.txt
$50B yes that’s dilutive, C has a market cap of ~$30B – 40B
I bought 500 BGU for a lotto ticket
RIMM coming back down to more sensible levels. I knew that big spike was a head fake. What enterprises are going to spend the money to outfit their workforce with new blackberries when they have no money to spend
Continuing jobless claims at 4.01MM highest level since Dec 1982.
I like your thinking T Moe. I shorted AXP and MOC but covered last week for a nice profit. I wish I still had them on but I’m not going to get back in now. I did just buy some puts on JPM yesterday. I refuse to believe with C and BAC trading so low that JPM won’t be there soon.
Fuck it all!!!! I’m so sick of it. In the words of Gordon Gekko before he hung up the phone with Budd Fox, “Dump It”.
CAP-
Why don’t you quit lying an admit you are long, and have been long since this fucking escapade started. You probably bought C at 9.92.
50 B was describing as “extra funding”, El. Extra funding has fuck all to do with the equity side of the balance sheet.
Fortune Cookie = DUG $60
j,
if that’s what you want to believe…it will be either debt or equity which are both on the balance sheet unless you know of some new accounting convention
long 500 QLD and 500 BGU
Donny, I don’t dought your call, just shouldn’t there be a bounce before you get there?
Mr. Fly,
Here is a video for information meltdown:
http://www.youtube.com/watch?v=kGSbadw0sD8
Grandpa-
Absolutely … there will be a bounce before we get there.
This is easy just short anything and you make money
UYM might see the 8s today…….
Anyone trying a little long action (she said sweetly) ovah heah?
why long right now? we’re cutting down a bear continuation flag
Senor Tropicanna- Its probably as cheap to fly to Romania than it has been in a long time.
If you aren’t going to at least test longs now, then when? When everything is at 0? I truly suck at trading, but I think you at least have to try at this level.
Fly-
How high can the VIX go before we see a bounce back in the S&P
We are now in the range of the 2002 lows.
If we could get some squeeze momentum going I could pay for a least a dozen hot dogs here
What this all comes down too is this. The street is coming to the realization that several of the nations largest banks are not going to survive this fucking debacle. There’s simply too many Alt-A (ponzi scheme) mortgages that starting to blow up.
We’re about to retest the “Too Big To Fail” theory.
Buying UYG here, “flaming motocross bike off the cliff with ET in the basket” -style.
Also have orders in at $3.55.
We are 37% below the 200 day MVA in SPX.
Last time? 1932 bear bottom.
Just…. nucking… futz!
___
Is SiriusXM going to make it?
fourteen cents/share
I like Jake’s idea … I think we’re gonna bounce. UYG is a great high-beta hedge.
C on all 4’s TAKING IT
Donny —
You can fly ET, you can Flyyyyyy!
Whhhhhheeeeeeeeeeeeeeeeeeeeeee!
(ploof!)
____