Saturday, October 11, 2008

Are we being Suckered or just Punched?

I heard it on Fox cable news this AM. A guest, whose name I didn't catch explained how they saw the problems in the World of Finance as possibly a product of Economic Terrorism.
They went on to suggest that foreign interests may be buying and selling large amounts of stocks for the purpose of destabilizing the World Economy and using hi-tech tools to conceal their identity.
As I recall the guest's comments went without much response from others on the show and they moved along with the earlier line of discussion.
That made me think of last week when during one of the market slides I opted to bail-out of two stock holdings with using my on-line broker connection and was then amazed with how quickly both sales executed. Pow! It was instant action and quite unlike the usual slow buyer response I suffered during past market slides.
Then I wondered, who was so willing and anxious to buy shares of a stock that even I knew was headed for the tank . . . and continued to slide long after I had cut the cord?
Who were these buyers? Were they suicidal or just have money to burn? Who is to benefit from losing money? The better question, who could be harmed if the buyers later intentionally dumped them to institute another decline?
Come to think of it, what better time for such Terrorism Activity than when the US is already upside-down with internal complications resulting from the sub-prime fiasco.
Most folks working at the World Trade Center in NYC didn't deal in coconut shells and coffee beans, now did they?

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