PLUNGE: This isn't some Rinky-Dink Stock, it's the British Pound!

PLUNGE:  This isn't some Rinky-Dink Stock, it's the British Pound!

The British Pound Sterling currency has plunged 500 pips to a record low value of $1.03 in absolute carnage of Foreign Exchange Reserves.

Here's the full chart showing the smash:

 

The beginning of the end is finally here . . . The GBP is down 23% YTD, worse than most 3rd world currencies.

GBP/USD is sitting right at support levels from 1984.

Strangely, all of a sudden, it is starting to make sense that the Pope ordered all Vatican entitites to move all their funds to the Vatican Bank by September 30 - and most of them have already done so. (Story Here)

 

BULLETIN: The Chicago Mercantile Exchange (CME) has HALTED trading in GBP futures ! ! ! !

 

UPDATE 8:10 AM EDT --

It's happening everywhere, Bond prices are cratering, currencies are cratering . . . 

BREAKING: Moscow Stock Exchange drops 9.2%

In London, the Financial TImes Stock Exchange (FTSE 100) just hit 6962 (…going down!) On Dec 30 1999 the FTSE hit an intra-day high of 6950 (…going up!!) …are we all set to be like it’s 1999 again?

 

UPDATE 8:20 AM EDT --

CANADIAN DOLLAR IN FREEFALL

Speculation CAD will drop below 60 cents this week.

A historic low.

Global currency in total freefall.

 
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