Official Portrait of President Ronald Reagan Ronald Reagan launched an attack on the middle class. We must reverse it to save our democracy
In the days between October 14 and October 19, 1987, major indexes of market valuation in the United States dropped 30 percent or more. On October 19, 1987, a date that subsequently became known as Black Monday, the Dow Jones Industrial Average plummeted 508 points, losing 22.6% of its total value. The S&P 500 dropped 20.4%, falling from 282.7 to 225.06. This was the greatest loss Wall Street had ever suffered on a single day.
According to
Facts on File, an authoritative source of current-events information for professional research and education, the 1987 crash marked the end of a five-year bull market that had seen the Dow rise from 776 points in August 1982 to a high of 2,722.42 points in August 1987. Unlike what hapopened in 1929, however, the market rallied immediately after the crash, posting a record one-day gain o
Silver Investing: China Launches New Benchmark
Just yesterday China launched Shanghai Silver Benchmark Price Trading. Now that’s a mouthful. The new benchmark price will have the symbol SHAG on the Shanghai exchange and will trade for two short time periods daily, one in the morning and one in the afternoon. The trading unit will be 15kg per share of SHAG, but will doubtless be translated into the price per troy ounce for comparison to other world silver prices.
What it means is that the Chinese silver market will have more input into the world price of silver. And, the world will get a better view of silver demand in Asia.