Art cashin comments today

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By Karen Starich

I had several subscribers emailing me today about comments Art Cashin made on CNBC this morning. Apparently the buz on the floor today was “The Moon did it!” referring to the big rally and reversal in the markets. Jeff and I both thought it was very odd, since when did Art Cashin start following astrology?

What Art is referring to is the Moon cycles with the new and full Moons and how the markets tend to reverse or change course when the Moon peaks at the cycle. Art promised to bring a chart next week to show everyone how it works, well I ‘m going to beat him to it because it’s not a reliable trading indicator, and I want everyone to see our view on this phenomena first. Art did admit he is using some other cycles too but he did mislead viewers on his comments today and I want to illustrate that so investors know what to look for next week when he brings his chart out.

Art said that on June 23rd the markets would top on July 3rd lining up with the full Moon, which did happen. He also said that he used the Moon phase to predict a market turn for today which would reverse the downtrend and lead to a positive move into mid next week, but warned not to go buy furniture suggesting the rally could be short. What is wrong with his statement?–there is NO new Moon phase today! The next new Moon is on July 19th.

There is much more to trading with astrology than just using the phases of the Moon. If it were that simple everyone would do it. With Astrology Traders I use a very complex system of planetary movements and mundane astrology charts to determine the direction of the stock market and commodities. Jeff has added below a chart with the Moon phases along with my astrology projections to illustrate how our trades compare.

On March 3rd I wrote to subscribers that we would have an opportunity to setup long positions in selected technology stocks on the pullback the first week of March that could see a solid move up into March 19th. I advised there could be a negative turn with financials after March 28th and illustrated April 19th-24th for a downturn and then bounce up into May 3rd, where it could potentially become more critical for financials and lead to a bigger decline into May 18th. Jeff’s technicals confirmed the astrology setup on May 2nd and we sent out a trade alert after the market close for subscribers to enter short positions on the indexes. If we were to have followed the Moon phases we would have been considerably off on our timing and not had the edge.

Art was also jubilant about a new study released by the Fed last Wednesday that shows 80% of the time the market rallies 24 hours before the FOMC minutes are released. A convenient way to “trade 8 times a year” says Art. I am sure Art has good intentions and is not trying to manipulate the market, but according to my analysis I won’t be taking his advice. In my view there looks to be an ambush coming in the markets that may not fit Art’s indicators quite so perfectly.

The following is by Karen Starich, who uses astrology to forecast events in the financial markets. Astrology Traders provides specific dates and in-depth analysis of future events for the financial markets through weekly updates, trade alerts, and educational webinars.

 

 

Best of Zentrader: Financial Astrology

 

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Arthur D. Cashin, Jr. was born on 7 March 1941, in New Jersey USA, and is noted as working for UBS Financial Services at the New York Stock Exchange as the Director of Floor Operations, and is also a regular markets commentator on CNBC.

Net Worth:

Art Cashin Net Worth: $100 Million

Art Cashin's Income / Salary:


Per Year:$20 Million

Per Month:$2 Million

Per Week:$500,000

Per Day:Per Hour: Per Minute:Per Second:
$70,000$3,000$50$1.00

Since you arrived on this page at , Art Cashin Earned:
Sours: https://www.celebworth.net/2018/10/how-much-money-does-art-cashin-make.html
  1. Chevy silverado single cab stepside
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Arthur D. Cashin, Jr. net worth is
$10 Million


Arthur D. Cashin, Jr. Wiki Biography

Arthur D. Cashin, Jr. was born on 7 March 1941, in New Jersey USA, and is noted as working for UBS Financial Services at the New York Stock Exchange as the Director of Floor Operations, and is also a regular markets commentator on CNBC.

So just how wealthy is Art Cashin at present? According to sources, Cashin has acquired a net worth of over $10 million, as of mid-2016. His fortune has been accumulated during his career at the New York Stock Exchange, now spanning well over 50 years.

Art Cashin Net Worth $10 Million

Cashin grew up in New Jersey along with his two siblings. He attended the Jesuit all-boys Xavier High School in New York City; in 2010, he was inducted into the Xavier High School Hall of Fame.
Right after his matriculation in 1959, he started to work on Wall Street, beginning his career as an assistant clerk at Thomson & McKinnon. Five years later, he was named a partner at P.R. Herzig & Co, at 23 becoming one of the youngest men ever to become a member of the New York Stock Exchange. His net worth started to rise.

In the meantime, during the ‘60s, Cashin almost left his career as a broker, in order to pursue a singing career. Reportedly, he was part of a folk group that was supposed to sign a record deal with then ABC Paramount Records. However, after the label’s decision to sign the musician Ray Charles instead of with Cashin’s group, his singing career ended.

In 1980, Cashin joined PaineWebber, serving as their floor operations manager. The company was merged into UBS in 2000, and Cashin eventually became the Director of Floor Operations at the NYSE. He went on to establish himself as one of six Executive Floor Governors, which is the highest level at the NYSE. He is also a Member of the Market Performance Committee, and of numerous exchange committees, offering valuable insights to investors and traders from around the world. Chasin’s involvement in UBS, which has more than $612 billion in assets under management, has enabled him to amass an incredible net worth.

In addition to being the Director of Floor Operations, Cashin has written a daily market newsletter for traders called Cashin’s Comments, read by more than 100,000 people a day, and has provided live commentary from his market wisdom on the current market situation for CNBC. Aside from being a contributor for CNBC, Cashin has frequently been featured on several other networks. His newsletter and CNBC commentary have also added to his wealth.

The Wall Street legend has served on the floor of the NYSE for more than 50 years now. He has also been a member of Mensa, the Bond Club of New York and the Knights of Malta.

When speaking about his personal life, Cashin’s wife Joan died of cancer in 1998. Sources believe he has been single ever since.

Cashin is involved in philanthropy, taking part in numerous charity events at the NYSE. Back in the ‘80s, he created the Exchange Christmas Dinner Fund, to feed underprivileged families during the holidays every year. He has also served as Chairman of the NYSE Fallen Heroes Fund, focused on helping the families of NYC police and firemen killed in the line of duty. After the 9/11 attacks, the fund provided more than $6 million in assistance.


Net Worth$10 Million
Date Of BirthMarch 7, 1941
Place Of BirthNew Jersey USA
ProfessionBroker, Manager, Director of Floor Operations, UBS Financial Services
EducationJesuit all-boys Xavier High School, New York City
NationalityAmerican
SpouseJoan Cashin (?-1998, her death)
Facebookhttps://www.facebook.com/wsartcashin
IMDBhttp://www.imdb.com/name/
NominationsXavier High School Hall of Fame

Sours: https://networthpost.org/art-cashin-net-worth/
Veteran trader Art Cashin on what's driving Wednesday's stock market action

Veteran trader Art Cashin reflected Friday on 9/11 and the impact the terrorist attacks 20 years ago have had on him personally and on Wall Street.

Cashin, who has been an NYSE member since 1964, was in lower Manhattan on the morning of Sept. 11, 2001. He remained in the stock exchange building all day, even as the NYSE and Nasdaq did not open for trading, a rare occurrence, because of the attacks.

Phone service was severely impaired in Manhattan that day, but those at Cashin’s post somehow remained operational, he said Friday on CNBC’s “Squawk on the Street” from the stock exchange, his first interview there since the Covid pandemic.

“People were rushing up. I had a line that looked like a movie theater of people from Merrill Lynch and from the stock exchange saying, ‘Can I please you the phone to call my wife? I can’t get through to my wife. Can I call my wife?'” said Cashin, who is now director of floor operations for UBS Financial Services. “I was here until the end” of the day.

Eventually, the 80-year-old Cashin recalled, he walked out into the ash-filled streets of the Financial District, where the World Trade Center’s 110-story twin towers had collapsed into piles of burning debris.

“I came out and there were a bunch of guys wearing the same kinds of masks we wear now for the pandemic, catching envelopes, things falling out of the sky from the 80th floor at the World Trade Center and looking through the envelopes to see if there was money or cash,” Cashin said. “I was so incensed. I started to go after one of them, and my middle son, Peter, said to me, ‘Dad, the point now is to get home. Forget those guys. They’re garbage.'”

Cashin said he still thinks about the nearly 3,000 people killed when the four hijacked planes crashed in New York City, Washington, D.C., and in Pennsylvania. Most of the victims were in the twin towers.

“There were friends we’ve lost. Friends you lost, people who never got the chance to see their kids growing up, things like that. It was terribly somber,” he said.

The U.S. stock market remained shuttered until Sept. 17, its most prolonged closure since the Great Depression.

People viewed returning to work for the reopening of the NYSE as a statement, Cashin said, a kind of patriotic defiance and strength. “After the twin towers came down, the exchange became the No. 1 target in New York City,” said Cashin, who is known for his daily analysis and deep understanding of market history.

Security around Wall Street is much tighter now than when Cashin began his career there, in 1959 as an assistant clerk at Thomson McKinnon. Lower Manhattan, more broadly, has become more residential in the two decades following 9/11, which Cashin said has been a welcome development and improved the liveliness of the area.

But the weeks following the terrorist attacks were dark on and around Wall Street, he said, and it had little to do with the market’s performance.

“We came for the next several weeks in a somewhat depressed mode. Everybody was downbeat,” he said. “The only smiles south of Canal Street were in the photos on the missing persons posters that the families put up to try and find people that had not come home.” 

Cashin said personal lessons from 9/11 are applicable to the current moment, as New York City and the nation work to overcome the coronavirus.

“If we get the vaccines and the variants back in order, life, hopefully, will go on,” he said. “Man is both a gregarious and optimistic animal, particularly if you’re American. Optimism is at the soul of this nation, so when you get a terrible thing like 9/11, you pull together and say, ‘OK, let’s move forward.'”



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Cashin today art comments

Wall Street trading legend Art Cashin says the market is in a 'wash and rinse cycle' driven by investors chasing trends

Art Cashin
  • Legendary trader Art Cashin told CNBC on Thursday that the market is in a "wash and rinse cycle" where investors trade on trends and not stock fundamentals. 
  • The UBS floor director said the market is driven by its own "internal momentum" because investors continue to buy shares and push up a stock price even after it rallies. 
  • "Don't be looking for logic in a market that's temporarily illogical," he added.

Art Cashin, UBS floor director, told CNBC on Thursday that the market is in a "wash and rinse cycle" where investors chase trends and stock prices frequently see sharp rises and falls. 

The trading legend said that the market is driven by its own "internal momentum," and that's left investors frustrated. It could also be to blame for the recent stock sell-off.

He explained a trading scenario to demonstrate this internal momentum. First, investors see an opportunity for a bargain when the market goes down. They take a position, the stock rallies, and they buy more shares, rather than sell as the momentum continues. When the momentum stops, traders put in sell stop orders.

"They trail whatever the last sale is, and when the market turns," they exit, Cashin said. "That's why we've seen this volatile market. Up, shortly down, up again, sharply down." 

Read more:A Wall Street expert explains why the market's ongoing turbulence could end within 2 weeks - and pinpoints 3 stocks to grab cheaper now as big investors buy the dip

This internal momentum can be seen in technology stocks and other stay-at-home beneficiaries because there's no money to be made in any other sector, he added.

Cashin also said that the market isn't being driven by fundamentals like earnings results. 

"Don't be looking for logic in a market that's temporarily illogical," he added.

Read the original article on Business Insider

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UBS' Art Cashin on meme stocks and when the stock market will revert to fundamentals

The Amazing Life And Career Of Wall Street Icon Art Cashin

July 5, 2012, 7:54 am

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art cashin

Markets guru Art Cashin, UBS Financial Services' director of floor operations at the NYSE, is a legend on the floor of the Big Board.

Cashin grew up in New Jersey and went to work on Wall Street right after his high school graduation.

He's been on The Street for nearly 50 years and he's wellknown for his daily newsletter Cashin's Comments. He also makes frequent appearances on financial television to talk about the markets.

Cashin's life story is about a hard working kid who didn't go to college because he had to support his family.  

Today he's one of the most respected to figures in finance.   

Cashin grew up in northern New Jersey. He comes from a humble background.

Cashin attended Xavier High School in New York City on a full scholarship.

The parish pastor paid for his uniform.  

Source: Xavier High School via YouTube



Instead of putting where he was going to college in his yearbook he simply listed 'working.'

Cashin graduated from the Jesuit all-boys Xavier High School in 1959.  

In his senior yearbook, where it said what college the student was attending, above Cashin's name it just said "working".

In 2010, he was inducted into the Xavier High School Hall of Fame.  

Source: Xavier High School



He started on The Street right out of high school in 1959 just a few months after his father died.

Cashin's father passed away a few months before he graduated, so he found a job to help is mom make ends meet.  

He started on Wall Street as an assistant clerk at Thomson & McKinnon in 1959.

Source: Xavier High School



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July 15, 2012, 12:56 pm

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Art Cashin, UBS Financial Services' director of floor operations at the NYSE, is a legend on the floor of the Big Board. 

The markets guru is also well-known for his widely read daily newsletter Cashin's Comments.

And in this Wall Street must-read newsletter, Cashin never forgets to include a piece of trivia.

They're really fun, but it can get frustrating since he doesn't release the answer until the following day. 

We've put together this past week's trivia questions for you.  Remember Google is for cheaters.

Have fun!

Monday's Question

What's next: 1; 2; 3; 7; 22; ___?

Source: Cashin's Comments



Monday's Answer

What's next: 1; 2; 3; 7; 22; ____? /

155 (number times previous number and add one).

Source: Cashin's Comments



Tuesday's Question

Where do you keep the spare change? Dad left his ATM card at the office so he tried to borrow from his daughter, Ann. She offered him two choices - the money in the bureau less the money in her purse or half of the total. Dad opted for the half and got $70. If he had taken the other option, he would have got $100. How much was in her purse?

Source: Cashin's Comments



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July 19, 2012, 7:03 am

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Despite lukewarm earnings announcements and disappointing economic data, the markets have been remarkably resilient.

Perhaps sentiment has already been too low.  Or may it's the prospect of more easing from the Federal Reserve.

But whatever the case, the market's resilience in the face of bad news has been notable.

Art Cashin wrote about it in this morning's Cashin's Comments:

Rumormongers Fail To Get On Base Despite Many At Bats - One of the interesting features of Wednesday’s session was an incredible number of rumors that popped up but never took hold nor showed market impact.

The largest number of rumors seemed to relate to Syria in the wake of the bombing that killed several cabinet ministers.

Assad was said to have fled to a coastal town in preparation to escape under Russian protection.  Others claimed Russia had a ship and several thousand marines off shore - not to protect Assad, but to seize chemical weapons should the regime collapse.  That would be to keep them out of the hands of Chechnya’s Muslim rebels.

A flurry of other rumors had Syrian rebels fleeing into neighboring states, pursued by Assad’s troops and destabilizing neighboring governments.

There were other rumors around the bus bombing in Bulgaria.  When Netanyahu blamed Iran, it reignited last week’s rumors of Israel activating a clandestine airbase in Azerbaijan from which they could launch a bunker busting raid on Iran.

There were also contentions that Iran, feeling more isolated by the imminent fall of its ally in Syria, might double down on its nuclear effort.

Those last two rumors may have been part of the boost in oil that had begun on supply data.

The rumormongers even branched out into Egypt, China and Brussels.  Amazingly, all without a scintilla of noticeable impact on the markets.  A rare no-hitter for the mongers.

Don't Miss: The 13 People Who Are Destroying The Global Economy >

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July 27, 2012, 2:55 pm

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Art Cashin, director of floor operations for UBS Financial Services, is sounding the alarm on hyperinflation.

"There is plenty of money around but it’s not finding its way into the system," said Cashin in an interview with King World News.

Here's more:

By standards, the amount of liquidity that’s around the globe should be hyperinflationary.  It is not.  It is because when Bernanke flies over your house and drops millions of dollars in fresh cash on your lawn, you are so terrified you pick it up and store it in the garage.  They’ve got to find a way to unlock all of that liquidity in the garages around the globe.

This is a very, very different time than virtually anything we’ve seen before.

Read more at KingWorldNews.com.

SEE ALSO: The Best Advice From The Most Brilliant Investors In The World >

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August 9, 2012, 7:02 am

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Ben Bernanke

All of that financial liquidity that Ben Bernanke and the Federal Reserve has been sending into the economy hasn't been going toward productive purposes, which explains why growth has been anemic and inflation has been more tame than many have expected.

Art Cashin, UBS Financial Services director of floor operation,s writes about it in this morning's Cashin's Comments:

From The Folks Who Brought You 1.5% GDP Growth And 8.3% Unemployment – It looks like the Fed's frustration may be growing palpable.  They have cut interest rates virtually to zero (and pledged to keep them there for years to come).

They have run three separate quantitative easing programs.  They have engorged the U.S. banking systems with excess free reserves to the tune of nearly $2 trillion.

And all that has left the U.S. economy sputtering just above stall speed and employment virtually frozen.

The Fed's problem is that all the newly created "money" has gone unspent and unlent.  To repeat an analogy I have used to explain why there is no inflation – it is as though Bernanke dropped $10 million in newly printed bills on your lawn – and you are so worried you hid them in the garage.

That's the Fed's frustration.  They have made trillions of dollars available but no one wants to borrow any of them or spend them. More correctly, no one with a good credit rating wants to borrow them or spend them.

According to Cashin, traders are also buzzing about the next Fed monetary bazooka:

We think Eric Rosengren articulated that frustration and hinted at there next initiative to address it.  We think Bernanke may flesh it out in coming weeks and certainly at Jackson Hole.

Traders (both here and Chicago) think it may be an aggressive Operation Twist in mortgage backed securities (the original source of the problem).

The goal would be to drive margin rates to dramatic lower levels not seen in history.  The strategy would be to make mortgage money so cheap that folks would virtually have to refinance.  Others, seeing such low rates might be induced to buy other bargain basement priced housing and maybe rent it as income property.

It would be a kind of end run around the traditional banking system, which has huge free reserves and a log-jammed lending system.  The next couple of weeks could be interesting.

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August 20, 2012, 5:50 am

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volcano merapi mountain ominous dark cloud

The ultra-low volatility in the stock markets seem to belie tensions brewing all around the world.

Art Cashin, UBS Financial Services Director of Floor Operations, writes about it this morning.

From today's Cashin's Comments:

Geo-Political Cauldron Bubbles – I continue to marvel about how little of the geo-political challenges appear to be priced into the financial markets.  The oil markets may be the only exception and even there the pricing is somewhat muted.

Bob Hardy in his top-flight GeoStrat blog runs down a list of concerns.

Hardy speculates on whether Iran may be plotting a multi-faceted counter for Israel.

Part one might be to encourage the Syrian unrest to spill well beyond Syria's borders.  There are already signs of disruption in Lebanon and border incursions in Turkey and Israel.

They could also unleash Hezbollah more directly on Israel and compound Egypt's problems on the Sinai Peninsula.

China and Japan exchange strong words on disputed islands.

Street flare-ups in Europe (France, Greece) may bode a very fractious autumn.

"Watch that newsticker and stay very nimble," says Cashin.

SEE ALSO: Expert Explains In Detail How The Next Shock Will Shatter The Global Economy >

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August 25, 2012, 9:06 am

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Art CashinArt Cashin, UBS Financial Services' director of floor operations at the NYSE, is a legend on the floor of the Big Board. 

He's been there forever and he's known across The Street for his popular, must-read daily newsletter Cashin's Comments.

One of our favorite parts of his newsletter is the piece of trivia Cashin includes in each one.  

They're usually a piece of logic or history and math related.  They're fun, but can get frustrating since you have to wait for the the next letter to see the answer. 

We've put together this month's trivia.  (Google is for cheaters!)

Question from July 31st

Peter showed Bob a bag with 1 marble in it.  That marble was either black or white.  He then added one white marble.  Bob (blindfolded) took one marble out which was white.  What are the odds that the marble still in the bag is white??

Source: Cashin's Comments



Answer

While it seems like the odds should be 50/50, they are in fact 2 out of 3 that the remaining marble is white.

Source: Cashin's Comments



Question from August 1

Bob is 33 years old today.  That is three times as old as Nick was when Bob was the age that Nick is today.  How old is Nick?

Source: Cashin's Comments



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August 28, 2012, 6:05 am

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Earlier this morning, European Central Bank president Mario Draghi unexpectedly announced that he wouldn't be heading to the Kansas City Fed's event at Jackson Hole, Wyoming.

But Art Cashin isn't too surprised.  In fact, Draghi didn't have much choice.

From this morning's Cashin's Comments (emphasis ours):

Draghi Defers – ECB head, Mario Draghi, has withdrawn as a speaker at Jackson Hole.  That is logical and almost inevitable.

As I told Bob Pisani yesterday in our daily CNBC website interview, Draghi would have been gagged by circumstances and politics.  He could not afford to outshine Bernanke.

Jackson Hole is primarily a Fed/Bernanke event.  As I noted to Becky Quick this morning, you don't go to your best friend's daughter's wedding and upstage him at the event.  So that left Draghi in a position to be dry, professorial even purposely boring, lest he steal the spotlight from the host.

But, on the other hand, the world has been waiting for weeks to get details behind his assertion that he would "do what is necessary.  And it will be enough".  A vacuous speech wouldn't do, either.

That made Draghi's Jackson Hole position untenable.  He dare not steal the spotlight but he could not be bland and vague.  So he withdrew.

One other factor is next week's ECB meeting.  Draghi dare not say something that might complicate negotiations within the ECB (whose statement will not be postponeable).

Despite the clear motivation of Draghi to withdrew and avoid unnecessary complications, markets are looking for conspiracies.  On the announcement, the Euro and EU markets spiked a bit.  The theory behind that spike is too complicated to explain in this space.

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August 31, 2012, 6:01 am

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All eyes will be on Ben Bernanke as he speaks at the Kansas City Fed's annual symposium in Jackson Hole, Wyoming.

Most economists don't expect much.

Art Cashin, UBS Financial Services director of NYSE floor operations spoke with some traders to get their take. Here's what they think:

Bernanke Without An Empty Chair – Around mid-day yesterday, we sent some friends an outline of what many on the floor were guessing Bernanke might say.

  • He'll review the previous Q's and Operation Twist.
  • He'll note what they did and didn't do.  He'll defend them against challenges that they just raised oil and commodity prices.
  • He'll challenge both sides in Washington on the total lack of fiscal action.
  • He may outline some possible alternative monetary actions but may hold them while assessing events in Europe, unemployment, etc., etc.
  • Markets may be initially disappointed but will be reassured that the "held-back" QE's are at the ready.

"If Bernanke doesn't say anything dramatic, Wall Street could be a Ghost Town by 11:15," said Cashin.

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September 1, 2012, 4:17 am

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Art Cashin believes it was a mistake for the U.S. dollar to come off of the gold standard.

That's why Cashin describes the event as the most disastrous moment economically in U.S. history.

This came up when King World News asked Cashin about the recent chatter about returning to the gold standard:

I think it would be an extraordinarily cold shower.  I do know it is being discussed.  There may be half steps that they can look at.

The most disastrous thing economically that happened in this country, happened in August of 1971, when they came off the gold exchange standard, whereby foreign governments and others could come in and present dollars and request gold.

When they went off that (the gold standard) there was no more discipline or control.  That is what led to the huge inflation we saw in the 70s, and gave us a very spotty market.  Volcker managed to wring most of that inflation out, very painfully.  Now we are liquidating the debt of the housing bubble, and even some remaining debt from the dot com bubble. 

Cashin also spoke of the fabled 17.6 year cycle and various geopolitcal risks.

Read more at KingWorldNews.com.

SEE ALSO: The 13 People Who Are Destroying The Global Economy >

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September 5, 2012, 6:23 am

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Everyone's wondering what the next moves may be by the world's central banks.  The European Central Bank will publish its interest rate decision tomorrow morning and the Federal Reserve will follow later this month.

One idea that's floating that isn't being talked about much is some sort globally coordinated action like the one announced last November by the Fed, ECB, BoJ, BoE, and BoC.

Indeed, when no central bank announced new action last month, experts including Jim O'Neill speculated that it too may have been some form of globally coordinated inaction.

Anyways, this is what some traders have speculated according to Art Cashin.

From this morning's Cashin's Comments:

All Together Now – Time and space will not permit a full dissection of the topic, but there's a sense on the floor that the central banks may be discussing a grand coordinated motion.

Economies are sputtering in China; Europe; the U.S.; Japan and many of the emerging nations.  Additionally, many of the central banks don't exactly have unanimous boards.  To go for a "grand move" could nudge the reluctant along.  We'll know better tomorrow if the ECB is somewhat hopeful but vague and indefinite.  They would need to leave plenty of room as discussion of coordination moves along.  Tomorrow's press conference may set a global tone for weeks to come.

SEE ALSO: 7 Top Wall Street Economists Preview Thursday's Huge ECB Meeting >

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September 5, 2012, 7:56 am

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Reports have just broken that a 7.9 magnitude earthquake just occured off the cost of Costa Rica.

In an eery coincidence, Art Cashin dedicated a huge chunk of his note this morning to increased earthquake activity.

From Cashin's Comments (emphasis ours):

Empty Plates – A few weeks back, I noted that a friend had come across a hypothesis that earthquake activity might pick-up on the short run.  The hypothesis was based on the fact that several planetary and solar angles were to occur almost simultaneously.

That, in turn, was a twist on tidal theory.  Just as positions of the sun and moon influence, the slower more persistent angular relationships of sun and planets might put lingering pressure on some of the earth's tectonic plates – thus increasing the potential for earthquakes and even volcanoes.

While I don't actually have an Acme Seismograph at home, with the help of Wonder Woman, I have monitored and reviewed seismic activity since the call.  There have been a couple of whoppers, luckily not in heavily populated areas, but overall, the number of quakes at 6 or over did not appear to increase materially.

What did seem to increase (at least from a layman's perspective) were the number of solar storms.  A quick check indicted the original angle charts were heliocentric – as viewed from the sun's surface.  That would likely put the tidal pressure on the sun – thus solar storms.

We'll check back with our pal to see if the original source of the theory intends to recalculate those influences (mass, distance, angle, etc.) for a more geocentric impact.

Until he get backs to me, I'll just reread Copernicus.

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September 6, 2012, 6:06 am

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September 13, 2012, 5:58 am

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Most people don't know about the deadly bomb that was set off on Wall Street nearly a century ago.

It killed 30 people and injured many more.

Art Cashin talks about it in this morning's Cashin's Comments:

On this day (+3) in 1920, sometime before noon, a drayhorse hitched to an enclosed wagon, stood, unattended, pawing the ground (or cobblestones) at the curbside in front of the U.S. Assay Office on Wall Street.

It was a cloudy, somewhat humid day and brokers and clerks at the Stock Exchange began setting up lunch reliefs amid a mild rally in moderate trading.  The rally's key feature was Reading, up about 2, at 93 3/4.  The other feature was U.S. Steel (trading steadily at 89 3/8).  Many clerks tended to spend the lunch hour watching the excavation for the NYSE annex, at Broad and Wall, right next to the Exchange itself.

Just minutes before noon, and just minutes before Exchange clerks and clerks from the House of Morgan, (just across Broad Street from the Exchange) might have poured out to the corner of Broad and Wall, a huge explosion erupted from the wagon.  It killed 30 people on the street instantly, and injured hundreds of others.

Flying metal shards tore into the limestone face of the Morgan Bank, dislodged steps on the Sub Treasury next to the Assay Office and even shot through the window of the Bankers Club at 120 Broadway (one block and 30 stories above the explosion).

Luckily, the drapes on the grand windows of the Exchange were closed so none of the flying glass killed anyone in the "Reading" crowd.

Nevertheless, Bill Remick, the Exchange president, walked to the rostrum from the "money desk" and rang the bell, halting trading for the day.  He said he did it because it was "just the right thing to do."

No one ever caught the mad bomber despite the final death toll of scores of people.  And the next morning the rally resumed, beginning the upswing of the roaring twenties.  Years later, but before the crash, an Attorney General would remark that the bomb had been planted by those who believed in communism.

To celebrate the event show someone the pock marks that still sit in the wall of the House of Morgan and remind them that the only people who believe in communism these days are teaching economics at U.S. universities.

(Editorial Oddity - The Wall Street bombing was the greatest act of terrorism in the U.S. until Oklahoma City.  That in turn was supplanted by 9/11.  There are some who believe that if the 1920 Wall Street bomb had gone off 20 minutes later causalities might have actually exceeded the WTC total.)

There were no explosions on Wall Street yesterday (thankfully!).  There was a lot of rumbling but not much movement – somewhat like marching in place.

SEE ALSO: The Incredible History Of The House Of Morgan >

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September 17, 2012, 5:50 am

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shofar rosh

September is historically the worst month for stocks.  (So, far it doesn't seem to be the case this year.)

As many celebrate Rosh Hashanah today, Art Cashin offers a trade that would jibe with the September pattern: sell on Rosh

From today's Cashin's Comments:

September Weakness And Rosh Hashanah – Last night at sundown marked the start of Rosh Hashanah.  About 50 years ago, as I was starting out in Wall Street.  I was lucky enough to be hired by a small, bright, aggressive firm where I learned unique things from some wonderful people.  I thought they hired me because I was sharp, inquisitive and hard working.  Some of the older salesmen, instead, used to joke that I was the "Shabbes Goy" - the only non-Jewish employee who could then man the phones on religious holidays.  It was a joke (I think) but it gave an altar boy from Jersey City a chance to learn a little Yiddish and a touch of cultural traditions.

The way I learned it, you sell on Rosh Hashanah and buy back on Yom Kippur.  The thesis, I was told, was that you wished to be free (as much as possible) of the distraction of worldly goods during a period of reflection and self-appraisal.

Later as I studied market cycles and economic cycles, I was struck that the oft-repeated September/October weakness (crop cycle/money float) often corresponded to the Rosh Hashanah tradition.  Is it cultural coincidence or cultural overlap?  Who knows!  (And we've never had a Rosh Hashanah and a QE3.)

One last note on Rosh Hashanah.  My late, lamented Irish mom, tended to see everything in a Celtic perspective - even Jewish New Years.  She would say - "You better get up to the deli fast 'cause the Jewish people will be leaving early for ‘Rose of Shannon'."  Anyway, if it is your holiday, "Leshona Toyva Tikoseyvu!"  Happy 5773!

Here Are 10 Things You Need To Know This Morning >

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October 12, 2012, 9:35 am

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Art Cashin of UBS describes an alarming vision in his daily note.

Cashin shares some of the conversation he and his drinking buddies – "The Friends of Fermentation" – have been having recently about the presidential election.

Given the extremely polarized political climate in America today, Cashin says things could get ugly if the race is close.

From Cashin's note:

Could This Be A "Dangerous" Election? – The Friends of Fermentation drifted onto the Presidential Election at a recent non-plenary session. The conversation was not what you might call "reassuring". The strong consensus was that whoever wins the election, it would be best if they won by a significant margin.

The feeling was that the nation is so tightly and tensely divided that a close election could well inspire challenges to its validity.

Those challenges might take the form of an almost endless series of court cases like Florida in 2000. That could delay swearing in the President or some Senators or Congressmen.

But, the challenges might not stop there. The FoF discussion worried that the challenges might spill out into the streets, perhaps starting as demonstrations and quickly devolving into riot-like occasions.

Could we be seeing the end of the American tradition of the orderly transfer of power? Could we be slipping into banana republic mode?

The heart of this discussion is the acrimonious tone that has evolved and grown in our political exchanges. All the "us and them" and class warfare posturing sets a dangerous backdrop to a close election.

Even the polls, which have been basically frozen for months, suggest a cement-like partisanship in the land.

What would happen if this election wound up back in the Supreme Court?

I'll try to get the FoF to talk about something less partisan….maybe the World Series.

Yikes.

DAVID ROSENBERG: This Is The Defining Chart Of The Ongoing Economic Crisis >

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October 13, 2012, 5:55 am

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UBS's Art Cashin  is sounding alarms on hyperinflation again.

The worry is that all of the Fed-induced liquidity in the financial system will begin to churn, causing the price of goods to surge.

These are the ingredients of inflation are in place like dominos, said Cashin to Eric King of King World News. And once those dominos fall, it'll happen very fast:

Listeners (and readers) will have to keep an eye on the velocity of money.  Watch figures like, here in the United States, the M2 (figure), and see if it begins to grow through velocity, and get very cautious at that point.  There are some potentially eerie parallels (today vs the Weimar Germany era).  The United States trauma was unemployment and deflation (in the 30s), but in Germany in the 20s, it was money that ruined an entire society.
...
There is a kind of delayed effect (from all of the money printing), and you want to watch very carefully.  If that starts to accelerate, if you begin to see not just the first signs of inflation, but actual acceleration, it will come very fast.  Then you have to think about, are you protected?  Do you have your money in hard assets?

And it's more imminent than you think:

I think you are certainly at a ‘flashing yellow alert.’  You have in place a variety of things that could begin to react somewhat domino-like.  As I said, there are measures and items that the listeners (and readers) can look for themselves.  Look at what is the growth in the money supply, M2?  It comes out every week.

If it begins to grow rapidly, then the money that the Fed has created will be seen as moving through the system.  That will create the high risk of accelerated inflation, and perhaps, God forbid, runaway inflation.

Cashin also had another scary thing to say:

Vladimir Lenin said that the best way to take over a country and subjugate the people is to debase the currency.  So whether you do it by accident or purposely, it has a very deleterious (damaging) effect on the population and on the culture.”

Read more at KingWorldNews.com.

SEE ALSO: How 9 Countries Completely Lost Control Of Inflation >

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October 17, 2012, 8:54 pm

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loaf of bread, bread

Too few understand just how disruptive hyperinflation in America would be.

Truth is, it would be a nightmare.

In an episode of hyperinflation, money loses value so rapidly that people spend it as quickly as possible, which only feeds the cycle of pushing prices higher and higher at a faster and faster rate.

Imagine prices at the food store and gas pump not just going up a few cents at a time, but doubling in a matter of months, weeks, or even days.

And now some economists and market experts think many of the ingredients for hyperinflation are brewing in America.

That's because years of profligate U.S. government borrowing and spending have created trillions of dollars that lurk in the reserves of foreign countries and major financial institutions. The situation escalated after the 2008 financial crisis, with the U.S. Federal Reserve's policies of "quantitative easing" creating even more money.

Sours: https://beadlet4.rssing.com/chan-3545232/all_p2.html

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