A Professional Run On Banks Has Begun

[Guest]

Our Treasury is going to have to raise over $2 trillion to fund fiscal needs in the next six months.
The creation of American debt is totally out of control and there will come a time when foreigners will be forced to say no – no more.

England and Europe are trapped in depression and England is bankrupt.

In Greece and in the Baltics and South Balkans they are having the worst riots in almost 20 years.

S&P has cut Greek debt to near junk and the bonds of Italy, Spain, Portugal and Ireland are on negative watch.
As we told you before this is a worldwide catastrophe.

Ireland has nationalized the Anglo Irish Bank, the biggest bank in the country.
Latvia’s streets look like a war zone. This is going to happen worldwide.

As we’ve said, the major financial institutions in the US are broke.
The Fed and Treasury know and a few in Congress.
There is no question now but Bank of America and Citigroup are broke. Plus banks in Canada and Europe. You can add JP Morgan Chase and Goldman Sachs. They went a bridge too far.

The connections in these stocks and others are just the prelude to oblivion. Wait until the derivative bomb explodes...

A Professional Run On Banks Has Begun

.

[vanvaley1]

Re: A Professional Run On Banks Has Begun

Our Treasury is going to have to raise over $2 trillion to fund fiscal needs in the next six months.
The creation of American debt is totally out of control and there will come a time when foreigners will be forced to say no – no more.

England and Europe are trapped in depression and England is bankrupt.

In Greece and in the Baltics and South Balkans they are having the worst riots in almost 20 years.

S&P has cut Greek debt to near junk and the bonds of Italy, Spain, Portugal and Ireland are on negative watch.
As we told you before this is a worldwide catastrophe.

Ireland has nationalized the Anglo Irish Bank, the biggest bank in the country.
Latvia’s streets look like a war zone. This is going to happen worldwide.

As we’ve said, the major financial institutions in the US are broke.
The Fed and Treasury know and a few in Congress.
There is no question now but Bank of America and Citigroup are broke. Plus banks in Canada and Europe. You can add JP Morgan Chase and Goldman Sachs. They went a bridge too far.

The connections in these stocks and others are just the prelude to oblivion. Wait until the derivative bomb explodes...

A Professional Run On Banks Has Begun

.

I like a post that doesn't mince words. Don't always agree with em but they're fun to read. The only suggestion I would make is they got bit by the Alaskan virus and built a bridge to NoWhere. That's a mythical land filled with magnificent dreams that goes on forever...til mom wakes ya up, tells ya you're late for school, and there's no time for breakfast.

If we're going to oblivion, at least we know how we're gonna get there. http://www.prudentbear.com/ has an article "Geither Says Plan for Banks Is in the Works"
in which Geither says, "We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."
So it appears we're not gonna nationalize (completely as opposed to quasi) any banks soon but pour more money into them and expect the best. Though I'd question the premise that the banks are 'run' by shareholders, 'managed'...period, and the preservatives are working. This is appears as another case of a national salmonella poisoning and outbreak that's deadly to the banking public: the financial 'leaders' being the poison rather than the peanut butter.

[labasta]

Re: A Professional Run On Banks Has Begun

Not wanting to be a nitpicker but Anglo Irish was (is?) Ireland's third biggest bank.

[c1ue]

Re: A Professional Run On Banks Has Begun

Spam! spam spam spam SPAM!

Loken: 31 posts - every single one pointing to CROM alternative bank.

[karim0028]

Re: A Professional Run On Banks Has Begun

Spam! spam spam spam SPAM!

Loken: 31 posts - every single one pointing to CROM alternative bank.

Clue, you are good Man, it never seems to amaze me how sharp the folks on here seem to be... Diverse informed opinions for sure... Good job in being able to analyze the source and motivation of news instead of just being a consumer of news!

[Slimprofits]

Re: A Professional Run On Banks Has Begun

Spam! spam spam spam SPAM!

Loken: 31 posts - every single one pointing to CROM alternative bank.

and this thread was an excerpt from an article written by Bob Chapman, the International Forecaster and posted to the CROM forums.