Great Britain Pound/USA dollar collapses in a flash crash ahead of Carney’s speech:
“Unfortunately, it is not [a mistake]… This could be the end of the fix. It took 14 minutes to find a fix – they obviously found a fix way off of the market.“
Today we had a HUGE flash crash in silver and this caused the fix to settle at 13.58 even though the spot price of silver at the time was .84 higher at $14.42.
This is totally unbelievable- will it mark the end of the fix?
This is an economic collapse update from SGTreport.
On Wednesday, March 18, 2015 the U.S. Dollar experienced an unprecedented ‘flash crash’ shortly after the market close, losing nearly 5% of its value in a matter of moments.
When a currency falls 5% in a single day it’s a noteworthy event, but when the world’s reserve currency plummets nearly 5% in an algo-induced flash crash it’s downright frightening.
Is it a harbinger of very bad things to come?
After MtGox halted trading for 12 hours to allow the market to “cool down”, trading resumed at 10pm EST tonight.
Not surprisingly, the digital currency immediately plunged another 35% to $78 from $120 where it was when trading was halted earlier Thursday, before rebounding back above $100.
All h*ll appears to have broken loose in the electronic paper metals market overnight Thursday and into Friday, as numerous live metals feeds are fluctuating in price by more than $1 in silver, and several metals dealers are reportedly refusing to make any sales as they have no idea what the current price of silver is.
BrotherJohnF’s latest Silver Update:
Mini Flash Crash