No One is immune nor intact

Dear comrades, the world must be shocked to hear that the DOW is falling to a level lower than that in 2003. The economic data do not yet justify such dramatic fall.

A 7% drop in the DOW despite all the actions taken by the US administration is clearly the answer to the evil Bailout Plan approved by Congress. The evil Plan must be wrong! It cannot help to restore confidence in the market nor even help the devils in Wall Street. The friends of the devils must now be finding themselves in a frying pan! What can they do or say? They offered the evil Plan to the devils by telling the world that this was the thing absolutely necessary to save America and the world in this global financial crisis and immediately after the approval, the whole world has been sinking. The devils in Wall Street are certainly no satisfied with the little bowl of blood in the evil Plan; they need more, more and more! You see there is a black hole in Wall Street that is going to suck everything in the world!

Well, I believe no one is immune nor intact by now. I would think even Warren Buffet might get a little worried. Though I have tried to sell everything before the ugly scene today, I still haven't thrown away all of the US investments. Bad luck! I hope you have done better by selling on rebound or whatever....

Is cash King now? NO, no one is save even with cash. Why? Look at the rapid devaluation of all major currencies; the purchasing power of the cash in your pockets is diminishing everyday! If your savings bank goes bust, then your cash may only be as good as what an insolvent debtor can repay in bankruptcy.

In Hong Kong, our situation is worst. Why? Our cash or paper moneys are printed by banks like HSBC, Standard Chartered, NOT by a central government backed by the local government. I really don't know what will happen to those paper notes if any of these printing banks goes wrong. All you can do is to look to the "issuing bank" concerned to get whatever value you can! Is the local government liable to honor the cash value of the paper notes of the Hong Kong dollar printed by these banks? I really don't know because these banks are not any local government agency.

Somehow, I think investors holding Hong Kong dollars must find the answer and they must do this quickly before confusion in the market leads to chaos.

God, why have you forsaken us?