winkinatchaNot that I think I need it, but thanyou for the...

winkinatcha

Not that I think I need it, but thanyou for the support.

I appreciate in particular your comment regarding my motives.

You are spot on in that regard.

I don't get a lot of support here for some reason. Not that I am looking for it mind but the abuse is troubling. Not because it hurts my feelings, I am a big boy but because the level of ignorence out there notivated by Self Interest.

I know it is a bitter pill to swallow but my fears are genuine and contrary to what a few people have written, not a blantant down ramping at all.

I have nothing at all to gain personally from my comments. I give them as a warning to the unsuspecting who read threads such as the one we are currently on entitled
"indicators that suggest a bottom".

The interesting thing about the person who created this thread, is that nowhere in this so called argument or justification for this title, does he/she give any real constructive examples to justify the title.

In point of fact, many {not all} of the examples point to the opposite and some of the comments used to justify that come from brokers etc....well - ever heard a broker talk down the market?

Look - I gave a few examples of what I think we are seeing here in my previous posts but there are many other aspects of this current drama being played out around the world of similar weight, if not greater.

To my mind, the next two "issues" to hit will be;

1 rising national debt and default by nations on that debt caused in large part by the strength in the US dollar, and

2 Debt swapping instruments on that debt held.

I talked about national debt in my previous post so I will try to explain the latter.

I have alluded to it in some of my previous posts here {perhaps not on this thread}.

Debt Swapping Instruments.

These instruments, held by many hundreds of thousands of people and "organizations" are the ticking time bomb waiting to explode. They are not properly regulated by insurence.

What occured was that when many of these so called "deals" were done in the US in the housing market and other markets, so called "Sub Prime Loans" was that these same debt instruments were packaged up and sold onto the next player, so to speak.

To cut through a very long story in regard to these debts, we are getting to the point where these instruments are falling due and non of the players have the cash to pay out to the other player. In other words these instruments are worth a big fat ZERO! NOTHING.

So they are all looking at each other, petrafied knowing they do not have the cash to cover their position or to pay the other player.

This in turn is going to cause a chain reaction the like of which has never been seen before as these instruments are held all around the world.

They are like a malignant cancer.

It will begin slowly and build into the gratest financial catasrophie in history. This has never before occured on this scale before. It has the potential to cause a complete breakdown of the world financial system and all the cash held in reserve will not help.

Now few observers are prepared to call just what the level or amount is but I have read that one person commented that it could be in the TRILLIONS OF DOLLARS. 55 trillion was mentioned though this may turn out to be a very conservative figure.

Asian political leaders, the Chinese Premire in particular made comment last night that the world finacial system is in need of review. It clearly is as I believe he and perhaps other "pollies" have a real handle on the extent of the problem

I could continue but I think I may have explained my concerns for now.

So I get very upset when I read people on Hot Copper telling others that this is the time to get back into the share market because we are at or near the bottom.

We are nowhere near the bottom imo and all the worlds indexes have a lot further to drop before any stabilization of the situation which could take many years.

In the meantime we are headed for, imo a depression the likes of which has NEVER before been seen.