Ishman: ISX Open and New York Stock Exchange Holiday: Coincidence?
It appears Iraq is trying to open their ISX on Jan 18, and we've been advised the RI is expected to be released concurrent with the re-launching of the ISX.
And the NYSE has declared a holiday for Martin Luther King Day on Mon, Jan 19.
This is a lovely coincidence. If I were releasing the RI, this weekend would seem about as perfect as the PTB could desire, especially in the wake of the de-coupling of the CHF from the EUR.**
ExchangeToday: OK midnight tonight is a great time or 2-4 am tomorrow!!!
RCH: Because the exchanges , and banks in the US are closed
This can happen any time , not just be fore 6 AM EST.
WE HAVE AN OPEN WEEK END !! I Believe.
TruckerBabe: Hummm?? Taxes about to be raised on the rich?
Just saw this online few min. ago. makes me wonder if this is one of the reason's for some of the delays? idk? who knows?! but go figure? right when there are about to be thousands of millionaires? hummm? now this?
Irene: President Barack Obama is proposing new taxes on the wealthiest Americans
President Barack Obama is proposing new taxes on the wealthiest Americans that would limit their profits from investments and make it harder for them to pass assets to heirs.
[wycoffjul] I've been reading some things today where some's opinion are that this Swiss thing wasn't as big as a surprise to the IMF as it was played off to be.
I hope they are right because now if the US doesn't go another country will do the same and so on till the US gets the message.
Here is one I was reading. http://www.dinarrecaps.com/our-blog/frank26-and-ktfa-members-thoughts-saturday-morning
Already Blessed: TONY SAYS ..AFTER ALL OF THE DISASTERS THAT OCCURED ON FRIDAY AROUND THE WORLD...HE IS CURIOUS TO SEE WHAT HAPPENS IF THIS HASN'T OCCURRED BY THE TIME THE MARKET OPENS ON SUNDAY.
Taxmom: Surge of Swiss Franc Triggers Hundreds of Millions in Losses- from Bix Weir
Just days after the Swiss "threw Napalm on the FX derivatives" we are starting to understand the true carnage associated with the volatility. The following are just some of the headlines relating to the destructions...
Surge of Swiss Franc Triggers Hundreds of Millions in Losses
"Banks, brokers and individual investors were left with hundreds of millions of dollars in losses a day after an unexpected surge in the Swiss franc sent shock waves through markets."
"FXCM Inc., a major U.S. retail foreign-exchange broker, emerged as the biggest victim so far and had to be rescued by an emergency $300 million lifeline from investment firm Leucadia National Corp."
"Citigroup Inc. and Deutsche Bank AG will each lose about $150 million on the franc's appreciation, said people familiar with the firms."
"Among hedge funds suffering losses: Discovery Capital Management LLC, a South Norwalk, Conn., firm that manages $14.7 billion, and Comac Capital LLP, which oversees $1.2 billion in London."
Barclays lost 'tens of millions' of dollars on Swiss franc moves
"British bank Barclays (BARC.L) lost tens of millions of dollars from the volatile moves in the Swiss franc on Thursday, an industry source said on Friday."
"Several banking sources said most major banks were likely to have lost money from the unprecedented surge in the value of the franc after the Swiss central bank abandoned a cap on the currency."
Saxo Bank says it will revisit Swiss Trades
"Once we are better able to establish the market liquidity, all executed fills will be revisited and amended to more accurate levels," Saxo Bank said in a statement. "This may result in a worse execution rate than the originally filled level."
Interactive Brokers Lost $120 Million on the Swiss Franc
"Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) Due to the sudden move in the value of the Swiss Franc ("CHF") yesterday, several of our customers suffered losses in excess of their deposit with us. Such debits amount to approximately $120 million, less than 2.5% of our net worth."
Casualties from Swiss Shock Spread from New York to New Zealand
"HSBC Customers:"The majority of clients in a franc position were on the losing side and sustained losses amounting to far greater than their account equity," Global Brokers NZ director David Johnson said in a statement dated Jan. 15 and posted on the website of affiliated company Excel Markets. All of the firm's client funds are in segregated accounts and "100 percent of positive client equity or balance is safe and withdrawable immediately," Johnson said."
Alpari UK Currency Broker Folds over Swiss Franc Turmoil
"FXCM said on Thursday it might not be able to meet certain regulatory capital requirements due to "unprecedented volatility" after clients suffered losses of $225m."
And this is just the beginning!
May the Road you choose be the Right Road.