Credit Suisse: Finance Meets Philately

Central Banks:



Stock market reaction in Hong Kong:

Don,t worry the U.S. Fed Reserve will on this coming Wednesday at 2:00 ,will announce a change in policy and reduce interest rates {this will be temporary } , this should turn the stock markets around . We could see a 500 to 700 point move up in the DOW .
This move will be timed to give me a chance to spend more money at Wednesday's stamp auction and pick up some lots before the end of the auction from my profits .......

Talk about a plan for the Fed to further undermine its credibility.

Markets expect a 25 bp rise with a possibility of unchanged rates.
Fortunately, the ECB did not do such a stupid thing as lowering rates but did as their charter told them to do.

Heck with this , stock market already up 650 points since I last posted here . Bank stocks are up nicely , time to cut and run . shutting down the position got enough for the stamp auction tomorrow ,going after two country lots at Dutch Country Auctions and one junk lot Thursday . Enough of this ,time for a run {6 miles round trip } to McDonald for a 99 cents Ice coffee .

Just a side note here ---- I am not surprised about this banking crisis but am surprised about the new di-nakesick's we got with this internet . what is it ? We now can have a run on a bank before both the bank community and also a run where the FED'S can not move fast enough .......do you understand this 70 billions dollars was removed from these two banks before the banks ,the press and the government could react to what happen . SHOCKING !!!!

What wasn't shocking is that Gov. Newsom got the FED to listen to him that if it did not cover deposits over the existing $250,000 deposit insurance level that he himself would be wiped out as his personal and wineries' (yes more than one) cash was deposited in the SVB. Funny there is a law in California against a politician doing that taking political actions which directly benefit oneself. Of course when there is a one political party dictatorship, and the party likes the action, then it is okay.

Additionally the Governor knew that if SVB failed taking the amounts over $250,000 off of the table (including his own), there would be wholesale bankruptcies and layoffs in the tech sector in California which would have greatly reduced California tax income for one or two years (or more depending on the carry-forward losses sustained). Also many layoffs as a result SO, yeah the Democratic Federal Leaders can't let their poster child and well for political contributions state to suffer financially.; especially with the level of political donations coming from Silicon Valley folks.

Now if it was a fossil fuel supporting bank, ha-ha-ha.... folks would be selling pencil or apples or what ever sells on corners now-a-days.

Good to hear money was made by floortrader (and I trust others) to support the stamp community. Gentlemen, start you bidding!!!

That's it? I do 20 miles.

:"do you understand this 70 billions dollars was removed from these two banks before the banks ,the press and the government could react to what happen . SHOCKING !!!!"

Get used to big things happening that fast

Senator's Huff and Puff are already talking about changing that. Who are you to have control over your own finances!!!

PS: Looks like my (and your) tax dollars will be going to Roku and Etsy amongst many others including Chinese owned companies. The system works just fine. Sit down and shut up.

Today is Wednesday 2:15 and the FEDS ,just gave us a big nothing . Rates are up 1/4 of a point . Glad I got out the other day and cashed out . Today purchased at Dutch Country Stamp Auctions already a Belgium Parcel Post collection , more lots later today but happy everything worked out .

Still ,don't like the way we had the run on a few banks ,that is scary ,just a matter of a few hours a bank with billions can be destroyed ,before anyone can lift a finger .

The George Constanza of NYSE predictions; whatever Floortrader says simply do the opposite?

WAIT A MINUTE ----- I got my rally of 500 to 700 points rally and then the message between brokers was mixed ,some said 1/2 point up others said a hard break down for the market .......so screw it, grapped my $1800. + profit and said I am out of here. Hey--- let me spend it in peace .Wife had to take her cut too .

Hopefully no one listened to your first prediction and didn't notice that you cashed out early... Kudos to you and spend in peace, perhaps you can buy lunch and a side dish of crow?
Don

20 March:




The Fed did what it should do; i.e., combat inflation, not cause a stock rally. And the financial markets correctly predicted this.

Spend my earnings at Dutch Auctions , got the Belgium , today bought a Iceland specialized ,then the Seychelles lot and a junk box of 102 cards and glassines .

Don,t worry Dutch Country will announce a change in policy and reduce lot estimates {this will be temporary } , this should turn the stamp markets around . We could see a 500 to 700 percent move up in the auctions .