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Peter Cooper is the editor and publisher of the ArabianMoney Investment Newsletter and website. He was formerly a partner in, sold in a private equity deal in 1996. His book 'Opportunity Dubai: Making a Fortune in the Middle East' was a best seller, and his latest... More
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  • Solar flare eruption could panic global stock markets 0 comments
    Aug 2, 2010 9:52 PM

    An unprecedented solar flare on August 1st should hit the earth today probably only causing so-called northern lights in the sky but with the possibility of damaging satellites and communication technology, and panicking stock markets.

    The solar flare follows a warning from leading astrologer Arch Crawford (see that the alignment of the stars portended a major event in this period. The photograph on shows the eruption.

    Shock wave

    The New Scientist reported a shock wave moving through space that will buffet the natural magnetic shield protecting Earth. Observers all over the world have been watching the solar flares erupt.

    The Daily Telegraph interviewed Dr Lucie Green, of the Mullard Space Science Laboratory, Surrey, who followed the flare-ups using Japan’s orbiting Hinode telescope.

    She commented: ‘This was a very rare event – not one, but two almost simultaneous eruptions from different locations on the sun were launched toward the Earth.

    ‘These eruptions occur when immense magnetic structures in the solar atmosphere lose their stability and can no longer be held down by the Sun’s huge gravitational pull. Just like a coiled spring suddenly being released, they erupt into space.

    ‘It looks like the first eruption was so large that it changed the magnetic fields throughout half the Sun’s visible atmosphere and provided the right conditions for the second eruption.’

    Astrology right

    So Arch Crawford has been proven right but will that now follow over into his prediction of massive disruption in financial markets? That will actually not be the major worry if this turns out badly.

    Will this just be some interesting northern lights in the sky or fireworks of a rather different kind as markets digest the forward implications of a serious disruption to global communications? 

    Disclosure: None mentioned
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