Russia: The Stock Market Gained so Fast that they had to Close Again!
Hello,Seems the Russian Stock Market is a real roller coaster.....
"Trading on the RTS and Micex was halted on Friday morning with the indicesjumping phenomenally in the first hours trade. Friday is the first days trade after the RTS and Micex were closed on Wednesday to allow regulators and the exchanges to reconcile a repo backlog, triggered by a major share slump on Monday and Tuesday. During this time the government announced a $45 Billion liquidity injection into the financial system, and announced additional measures to underpin the stock market.
The RTS key index gained more than 12 per cent and the MICEX index rose by more than 15 per cent, and at 11.05 Moscow time (07.05 GMT) both Russia’s major stock exchanges suspended trade in all shares." (Link)
I understand their thoughts and I think that they are on to something. The market opened at 10:30 am and due to the fact that everyone in the world knows that the stocks are very, very, and very undervalued in Russia, by 11:00 am Moscow shut the doors again to stop the 12% increase and ensuing calumnious results. In a half hour the best deal in stocks on earth were getting ready to flame again but in the opposite direction that was happening two days before.
Seems that a lot of business people outside the Russian borders (USA) did the usual panic and run. Now they are trying to get back in the door after realizing that they messed up. The Russian financial system is sound, strong and out of debt. Unlike the American financial system that is broke, unsound, $10,000,000,000,000 dollars in debt and prints money for any reason.
I myself hope that Russia is careful who (internationals) they allow to play in Russian finances. Seems like this is a good time to clean out the undesirables.
Kyle & Svet
comments always welcome.
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Kyle,
You are too generous in describing the US debt level. $10 Trillion is only what the US government admits to owing. Just before these latest bailouts hit, the former chairman and president of the GAO, the government's very own accounting office, calculated the US debt to be five times that amount....$53 Trillion. These latest bailouts just happen to have an no-limit clause to them. Hence the Freddie Mac and Sallie Mae bailout will add another $10 Trillion.
Best I can tell the US government has accrued $63 Trillion in liabilities and counting!!!!!!
It's criminal and I'd have no problem seeing Paulson, Bernanke and pals hanging, quite literally, from the Congressional balcony. They are no better than thieves! Immoral and corrupt!
In the past week alone they have conspired to steal at least $10 Trillion from the US taxpayer......as in me! Most of Congress has been complicit as will the judicial branch will follow.
Conspiring and complicit thievery....Another tenant to add to the 'Bush Doctrine'.
http://www.energybulletin.net/print/23259
This link will take you to a presentation given by a Russian who lived through the Soviet collapse. He cites many interesting parallels to our current situation.
Interestingly enough, the US government still feels that it can squeeze the US taxpayer for $1 billion, in humanitarian aid I'm sure, to send to poor Georgia!
Hey Blackseabrew,
I just watched a Ron Paul video and he just put it at 75 trillion dollars... That is.... well - that is... JUST PLAIN STUPID!
I really do not know of any other words that fit.
Good link and I just got done reading the very long article, I think that I will do an article on that link. Thanks..
Then Ron Paul talked about the Bill before congress about sending Georgia a billion dollars. He is like why do we not help our own country out first?
Maybe the USA can reach the next level of numbers before China repossesses the country... I think it is quadrillion! Now that is a worth while debt. Think big... :) (sarcasm)
Kyle