The New York Stock Exchange (NYSE) opened as usual at 9:30 eastern time today, and within minutes chaos erupted. Trading in multiple stocks had to be "Halted" because of "Volatility" as over $1.4 TRILLION Value got "glitched."
GameStop Trading Activity Halted - Roaring Kitty's Return Keith Gill, known as "Roaring Kitty," returned to social media, reigniting interest GameStop shares.
Horace Mann Educators Corporation Common Stock -- Trading Halted at 09:46:15 ET on NYSE | Volatility Trading Pause | 2024-06-03
Trinity Industries, Inc. Common Stock -- Trading Halted at 09:45:10 ET on NYSE | Volatility Trading Pause | 2024-06-03
Plutonian Acq Cp Ut | Trading Halted at 09:44:53 ET on NASDAQ | Volatility Trading Pause | 2024-06-03
Kforce, Inc. - Common Stock | Trading Halted at 10:00:24 ET on NYSE | Volatility Trading Pause | 2024-06-03
Then the really big boys starting getting hit . . . badly:
JPMorgan Core Plus Bond ETF | Trading Halted at 09:38:08 ET on Non NASDAQ | Volatility Trading Pause | 2024-06-03
AMC Entertainment Holdings, Inc. Class A Common Stock | Trading Halted at 09:37:10 ET on NYSE | Volatility Trading Pause | 2024-06-03
But the absolutely HUGE problem of the day was Warren Buffet’s Berkshire Hathaway which took took a minor 99.97% haircut. Which is equivalent to a valuation loss of $1.4 trillion, however, trading has been halted and it is likely a technical issue.
Hal Turner Snap Analysis
So what can we, the regular folks, make of this? Why the sudden gigantic volatility in the markets?
A number of people with whom I spoke this afternoon all agreed: The system is coming apart at the seams. There is so much corruption, so much dirty dealing, so much cooking of the books, so many outright phony reporting of financial numbers, it is hard to hide anymore.
Plus, several of them said, the US money supply is contracting. It has only done that before and then the Great Depression followed.
So it seems to many people - but certainly not all - that the system is now coming apart.
Think about this for a moment: If the premier Stock Exchange in the world, closes with everything fine on Friday, then opens with inexplicable catastrophic volatility on Monday morning, how trustworthy is the system anymore?
Of course, I saw this as it was taking place and . . . all my regular readers know what I did . . . . went to the bank and pulled out some cash. Not for paying bills, but to SURVIVE ON if the entire system collapsed.
I don't trust it anymore. At all.
The fact that this type of trouble could pop-up out of nowhere, and likely be a "glitch" in some computer somewhere, tells me the system is now completely unstable and is not to be trusted at all.
Others may legitimately have a different view, and I respect that. But frankly, when it comes to matters financial, I don't trust these people are far as I can throw them, and I can't even pick them up.
Z E R O Trust.
I have some cash to live on . . . do you? If not, get some. Just in case.
