Just a hunch, but I think Marc Faber is right on this: long US Treasuries and long US dollar for the next 3 months.
Why?
Egypt.
The authorities there have apparently shut down Twitter, Facebook along with the Internet connection. Text messaging is not working, and landlines are reportedly down, too.
Why?
A massive anti-Mubarak protest planned for Friday.
From Huffington Post:
Reports are emerging that Internet has gone down in Cairo and throughout Egypt, only hours before the largest planned protests yet.
According to a report from The Arabist, "Egypt has shut off the internet."
Multiple Internet Service Providers are affected according to the report, which states:
I just received a call from a friend in Cairo (I won't say who it is now because he's a prominent activist) telling me neither his DSL nor his USB internet service is working. I've just checked with two other friends in different parts of Cairo and their internet is not working either.The news of the Internet outage came minutes after the Associated Press published a video of an Egyptian protestor being shot.
CNN reporter Ben Wedeman confirmed Internet is down in Cairo and writes, "No internet, no SMS, what is next? Mobile phones and land lines? So much for stability. #Jan25 #Egypt"
The Los Angeles Times is also reporting that BlackBerry Internet has been taken offline in Egypt.
I have a feeling that the Obama White House is very carefully monitoring the situation to see if it is ever possible to "shut down the Internet" (if not actively advising Egypt on how to...).
Here's the latest update at Huffington Post:
UPDATE: (9:45 p.m. ET) Internet intelligence authority Renesys has just weighed in with a blog post on recent developments:
Confirming what a few have reported this evening: in an action unprecedented in Internet history, the Egyptian government appears to have ordered service providers to shut down all international connections to the Internet. Critical European-Asian fiber-optic routes through Egypt appear to be unaffected for now. But every Egyptian provider, every business, bank, Internet cafe, website, school, embassy, and government office that relied on the big four Egyptian ISPs for their Internet connectivity is now cut off from the rest of the world. Link Egypt, Vodafone/Raya, Telecom Egypt, Etisalat Misr, and all their customers and partners are, for the moment, off the air.
At 22:34 UTC (00:34am local time), Renesys observed the virtually simultaneous withdrawal of all routes to Egyptian networks in the Internet's global routing table. Approximately 3,500 individual BGP routes were withdrawn, leaving no valid paths by which the rest of the world could continue to exchange Internet traffic with Egypt's service providers. Virtually all of Egypt's Internet addresses are now unreachable, worldwide.
This is a revolution.
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