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Sorry - the fact I like Astronomy and CCR means I couldn't resist:In the wee hours of Tuesday morning, the full moon will grow dark and red as it passes through the center of the Earth's shadow for the first time in seven years.Can't wait to see the Musketeers' reactions. They enjoyed the meteor shower we got up in the middle of the night for a couple years ago. Of course, the hot chocolate probably had something to do with that, since it was March, not August.
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Market Crash Forecast Suggests New 9/11
Mystery trader bets on huge downturn that could only be preceded by catastrophe
A mystery trader risks losing around $1 billion dollars after placing 245,000 put options on the Dow Jones Eurostoxx 50 index, leading many analysts to speculate that a stock market crash preceded by a new 9/11 style catastrophe could take place within the next month.
The anonymous trader only stands to make money if the market crashes by a third to a half before September 21st, which is when the put options expire. A put option is a financial contract between two parties, the buyer and the writer (seller) of the option, in which the buyer stands to benefit only if the price of the asset falls.
"The sales are being referred to by market traders as "bin Laden trades" because only an event on the scale of 9-11 could make these short-sell options valuable," reports financial blogger Marc Parent. Online Financial News first reported on the story.
The trader stands to make around $2 billion from their investment should an event trigger a market crash before the third week in September.
Such a cataclysmic jolt could only happen as a result of two factors, China dumping its vast dollar reserves in reaction to the sub-prime mortgage collapse, which it has threatened to do, or a massive terror attack on the same scale or larger than 9/11.
9/11 itself was foreshadowed by unprecedented put options that were placed on United and American Airlines. Though the Securities and Exchange Commission refused to reveal who placed the options, private researchers traced the investments back to the Deutsche Bank owned Banker’s Trust, which was formerly headed by then Executive Director of the CIA, Buzzy Krongard.
Put options on Morgan Stanley and Merrill Lynch, two of the World Trade Center's most prominent occupants, also spiked in the days before 9/11.
News of the suspicious trades is dovetailed by the comments of Former US Treasury secretary Larry Summers yesterday, who told ABC News that the risk of a recession in the U.S. was greater that at any time since 9/11.
You know, Ken, I do try periodically to write something relatively apolitical here... ;)
I'm reaching the conclusion we're at a stage in history where those who aren't sleepwalking are best served by keeping a low profile and storing away for the storm ahead. Anything else is just spitting into the building headwinds.
Now, about the eclipse: the kids DID in fact enjoy it. I was amazed how easily they got out of bed at that bizarre hour... no hot chocolate enticement required this time!
:) :)
Apolitical?? Really?
I'm sure, that somewhere in the world that event had political ramifications. ;)
Just not in our household... :)
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