Check the date of this post, and no, this is NOT an April Fools joke! Could this be true that Germany is in advanced talks with the New York Stock Exchange?
The New York Stock Exchange is soon to be acquired by the owner of the Frankfurt stock exchange in a deal that would create a behemoth financial-market operator valued at about $25 billion. The transaction being negotiated by NYSE Euronext and Germany’s Deutsche Boerse would put the Big Board’s trading floor, which became a flag-draped patriotic symbol in the wake of the 9/11 terrorist attacks, under overseas control.
The possibility has already stirred opposition. “This is a slice of America being sold,” Joe Saluzzi, co-founder of brokerage Themis Trading in Chatham, N.J., said Wednesday after the companies confirmed their discussions. “You can’t allow an American icon to go under foreign control.” Although the main motivation for a deal is to cut costs by merging operations, the move also would improve the NYSE’s access to the world’s fast-growing emerging markets and insulate it against rival stock exchanges in China and Latin America. The talks also underscore the growing challenge of economic globalization to the U.S., for decades the center of the international financial system.
Time to buy gold, folks… time to buy gold.