As the economic crisis unfolds, it is amazing how many parts of the current financial system we take for granted. How many parts contribute to the whole, and we simply assume will always work and function in the manner that they have functioned in the past.
The LIBOR (London Interbank Offered Rate) is a perfect example of this. It's a necessary component of the financial system. And some time ago, I had a Twitter update, in which I discussed the horrendous moves in the LIBOR, in which I stated:
"Oh dear lord. Look at the LIBOR. This is like a nightmare you can't wake up from, but you know you're in"
But what exactly is, the LIBOR? I discuss that in the follow video ...(Video Included)
Tomorrow, I discuss the importance of the DOW Jones Transportation Index ...
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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.