Bitcoin Forum

http://www.reddit.com/r/farright/comments/1wwn77/pulling_together_some_posts_from_the_pol_thread/

I work as a stock broker for Piper Jaffray located in Los Angeles. What happened yesterday left me absolutely stunned in disbelief.
I manage the portfolios for more than half of our richest clients and my boss called me into his office and told me to cash them all out immediately. My obvious thought was that there was going to be a crash but it was strange that he was so adamant about cashing them out. He clearly knew something so I asked him what was up. He spilled the beans and said look, we are going into a currency crisis. Major banks are going to default in the next 3 weeks. The stock markets are going to go in a violent downward trend not only here but all around the world. The currencies of the world are going to move in every direction and there's no predicting which ones will still be standing after this is all over. It will spill into the bond markets here and it will be interesting to see what the fed will do. He warned whatever the fed did it was not going to help and not solve any problem. When I asked who told him this. My boss said he talked to a buddy of his who happens to be an executive in JP Morgan. I asked what triggers it and he said the Chinese trust default is going to cause a domino effect which will spill into every market and every currency in the world. He also said this coming week from the 27th to the 31st will have volatile trading and that this collapse is imminent within the next 3 weeks.
I am dumping all my stocks and bonds but the problem is holding dollars is not a safe haven as well. I'm in the process of putting my dollars in precious metals, property, Swiss francs, Vietnamese Dong, Nigerian Naira, Russian Ruble, and Mexican Pesos. Why not Yuan? It's not safe at all, they are dependent on the consumerism of other nations. Why buy currency of third world countries? They don't have much industry to be affected. They have more of an agricultural and energy based economy.
If anyone has questions please ask, especially if it is advice on what to do with your assets.

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If this is true (which is already happening stocks are crashing atm and 4 banksters and counting are dying (suicide or murder?) all within a week) then this might be a volatile month for bitcoin as well, definitely feb-april before summer imo

Or perhaps there is an angry man form the 2008 financial crisis that left him bankrupt and is now hunting them down 1 by 1 almost like V for Vendetta.
Instead of reporting it as assassinations or murder, they immediately dismiss and close the case that is an apparent suicide.

buy when there's blood on the streets

The Chinese investment trust didn't default. It was restructured and the investors only lost their interest payments. I wouldn't be confident about the Ruble being a good hedge  ::)

would this move bitcoin price up or down??

anyway this smells like fud

Investor comments about bitcoin in this thread XD

http://www.reddit.com/r/economy/comments/1w8cge/insider_spills_beans_on_financial_market/cezv33a

weird also

he made that post 8 days ago.

the supposed suicides started 6 days ago correct?

/r/thishappend


Why didn't he just type out this whole name and emailed his letter of resignation along with it?

Any chance of you showing some proof that you actually work as a stock broker at Piper? If not then this is a ridiculous claim.

We have been in the eye of the storm for the past 5 years.


No, only one direction. Down. None of the worlds fiat currencies will be left after this.


The sellof in the S&P 500 has already started.
But the endgame will be played in the bond market.
The fed will do the ONE single thing that they have done for the past 100 years which is print more money.
The result is massive hyperinflation of the USD leading to it's de-throning as world reserve currency status.
A new cryptocurrency will take the place of the USD as world reserve currency, probably not before World War 3.


Agreed.

To the moon!!! ┗(°0°)┛ ..○

that is not me that wrote that.

I found it on reddit but am just saying, he made that post 8 days ago BEFORE the bankers started commiting suicide(or murdered)
just wanted thoughts and opinions? maybe a tinfoil had too :) jk but yeah just trying to look at it openly without spreading fud

heres HIS original post

http://www.reddit.com/r/economy/comments/1w8cge/insider_spills_beans_on_financial_market/

8 days ago.

edit: he posted 8 days ago (jan 27th), the 1st banker died 9 days ago (26th)

Vietnamese Dong, ???? why not iraqi dinar why we're at it..... think thats the 1st time i've head VND come out of the mouth of an " investor"

so you're saying Dong came out of his mouth? meaning it went in at one time as well..

Thank god everyone is allowed here, not just investors.... hilarity is endless.

Hmm is there any difference between the tradition stock market and bitcoin market ? Does the stock market basically mean only greed and fear ?
I thought it was more complex.

Not much difference, constant theft, greed, and manipulators everywhere. Bitcoin is already ran by the rich. As funny as it is. No poor people own bitcoin, nor will be helped by it invention... Poor people have nothing, this will continue regardless of bitcoin.

ouch .....

Hi all -

A comment from my friend, the # 1 performing financial advisor in San Diego, in the business for 35 years:

"I can tell by the choice of words used in the post, that the person who wrote it does not even work in the financial services industry as a financial advisor or money manager.  Pay no attention."

-B-

The lazy English grammar gives it away.

I believed the money printing => hyperinflation theory for a while.

Then I decided thats exactly what we are being sold.

I think the reality is that all that QE isn't going into the economy in the way one might think.

The banks have been running the fractional reserves / derivatives racket for the longest time. All the talk of toxic assets is cover for the real problem, which is that the big bank balances sheets are so stuffed with trillions of dollars of imaginary money that its now untenable.

QE isn't putting money into the economy, its unwinding the debt merry go round.

It's huge transfer of debt away from the banking system, into /dev/null, so that the banks can get back to business as usual. Its the mother of all bail outs, only this time its in secret. Do you really think the numbers we were sold, were the true extent of the problem? I believe they gave us the tip of the iceberg. Throw out a red herring so no-one asks any more questions...

Thats why we won't see hyperinflation, because none of that money will ever make it near the actual economy. It's all being sucked up by the banks. Thats why the market is going to do exactly the opposite of what MSM says, just like it always does.

Since 2008 the promise of the *real* crash has been flaunted. You ain't seen nothin' yet, apparently. Yet the last 5 years have proved to be a great run for equities. S&P and DOW are both up around 100%, NASDAQ not far off 200%.

Everyone is talking about the stock market crashing the last few days. Sure its down 5 or 6%, but then its also had a pretty much straight run up the last 4 months. Seems like a health retest to me.

Meh, what do I know. I think a sound investment strategy is 90% crypto ;)

Largely in agreement with this.

The central banks are giving out QE funny-money with strings attached that prevent the banks from using it in ways that may release the 'inflation genie', such as physical purchases of precious metals and retail lending. The retail banks are being flooded with cheap money that they are terrified to lend out into the economy. For one, they would rather spend it themselves than lend it as they are extremely worried about the purchasing power of fiat currency over longer term contracts. This is why the banks are not lending and we have simultaneously seen huge upwards movement in 'banker' markets like equities, bonds, fine art and even cryptos to a certain extent. They are worried that if they lend the money to the people, they will use it to 'vote with their feet' and move hugely into physical commodities & cryptos and out of the debt backed assets which they hold on their books in huge quantities.


I'm not so sure about that. Wha's happening is that for the past 5 year, fear has been trumping greed. Bankers have pushed up equities, bonds, property & fine art and have supressed precious metals. This is all being financed on-margin from the fed with unlimited cheap money that the common man does not have access to. It's a phony recovery, financed with counterfeit dollars from the fed.

But when the writing is on the wall for these bankers, and they start commiting suicide en-masse, this money will massively panic out of every debt-backed asset that has been created over the past 30-40 years and back into sound money and physical assets that are not derived from the monetisation of debt.

These debt markets are bubbles of epic proportion, the bond market especially, and they are looking for a pin.