It is already nuts yes, but has the chance to get even nuttier. It just seems like at least putting some of your cash in gold or silver is only prudent at this stage.
My question is even though the accounts are FDIC insured I wonder how long it would talk to actually see your money. Having to wait more than a few days could create HUGE problems for individuals and business. Was there any delay for the people at Indymac???
Does anyone see this whole situations as a black swan? Maybe not in the sense of getting long and holding, but at least for a short term swing (call it a dark gray swan). I think there are a lot of scare tactics being used, and this kind of stuff is common at market lows. We haven't even tested the lows of last wk (es), there are restrictions on shorting, etc. As much as I don't like Neil Cavuto, he said earlier today (speaking to jack welsh) that the Fed's wkly lending has been increasing and jack's argument was that he spoke w/ 7 companies who claimed their orders have been down. I'm no economist, and maybe the GOV needs to do something, but it sure smells fishy.