Financial market expert Jim Cramer of CNBC’s Mad Money relayed information he’s heard indicating that the steep stock market plunges we’ve seen in recent weeks could be the result of “financial terrorism.”
Cramer’s been talking to the short sellers he knows, and that’s the theory they’ve been putting forward. His sources said that it’s doubtful that the market’s traditional short sellers are behind the negative action we’ve seen lately. So there is the possibility that someone else has been trying to wreak havoc in the markets rather than just profit from the problems of Goldman Sachs, Morgan Stanley and others.
Cramer, who was merely relaying what he heard, did say that, given the fact that the U.S. is in a “financial nationally emergency,” the “financial terrorism thing, to me, has to be put on the table just because the regular short sellers are not doing this.”
Professional short-sellers, the ones with the power to move markets, are a close-knit group. Like any group of folks in an industry, each knows what the others are doing. Their livelihood depends on intense research into market sentiment. If this were normal short-selling, they’d have known it and foreseen it.
Clearly media-stoked panic has something to do with the plunges; stocks in industries entirely uneffected by the credit crisis nose-dived right along with financial stocks during the turbulence. It was rather interesting, however, to see foreign investors come sniffing around for bargains confidently when everyone else was running in the other direction. Wonder what they knew that American investors didn’t.
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CNBC, Credit Crisis, Economy, Stock Market1 Response to “Cramer: Market Plunges Could Be Financial Terrorism”
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1edit35 on Sep 20, 2008 at 8:43 am:
I have long suspected that George Soros, along with the trillions in oil money from the MidEast, have been creating shell accounts in order to sway markets to the downside.
Soros did it before by shorting the ?? dollar, and other commodities…. a
The sooner the US begins developing its own energy, the sooner we will be able to control our own financial destiny by starving these cretins of the very funds they use to harm the US.
Ironically, sMurphy and do-nothing Obama are so in the tank mentally with Soros and the financial-enemies of America that it’s frightening….. frightening in the fact that both Democrats can’t see that they are promoting the enemies who want to destroy the very thing which gives them freedom and prosperity.
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