Something Very Big is Going on in the City of London

Something Very Big is Going on in the City of London

August 8, 2007 (LPAC) -- Late in the day of Aug. 8, a source working in the City of London reported to EIR that "There is an absolutely massive market event happening today. You'll not see any evidence of it if you just look at the FTSE or DOW index numbers, but its looking like someone is liquidating a huge market-neutral stock portfolio," referring to an investment portfolio which is designed to make money irrespective of general market downturns. The sales took place across the globe, starting in Japan, then in Europe and the U.S. The source said that others in the City believe that, in order to have the market impact that this sell off is having, the size of the portfolio would have to be in the 3-6 billion dollar range.

 

It is not known as of this writing who is liquidating, nor why - whether it is a desperate need for cash, an intervention intended to impact the market by a central government, or something else, the source said, it is an "unprecedented event." In the dynamic global process now underway, it cannot be seen as an isolated event.