We are not going to belabor this point but it is deadly important. Private equity investors and professionals are pulling their money out of banks. A professional run on banks has begun. If you have CDs or funds in banks that exceed six months of operating expenses remove them immediately. Your alternative is gold and silver related assets or Swiss franc Treasuries. ...
The entire world is entrapped in a web created to bring about world government.
As we’ve said, the major financial institutions in the US are broke. The Fed and Treasury know and a few in Congress. The rest of our legislators do not understand or want to understand. Congress is only interested in payoffs and pedophilia. These are the same people who allowed $350 billion in TARP funds to be stolen.
There is no question now but Bank of America and Citigroup are broke. Plus banks in Canada (Canada Mortgage Problem LINK) and Europe. You can add JP Morgan Chase and Goldman Sachs.
The American Council of Life Insurance has been pleading with regulators to adopt a variety of changes in capital and reserve requirements before companies must file their annual reports for 2008. ..........
The meltdown in the financial markets has reduced the value of insurance companies’ investments, leaving them with a thin cushion. You all know what will happen when the Dow falls from 8,000 to 4,000, they’ll be out of business and you will lose lots of money.
2009 will be a dangerous year for life insurers and 2010 will be worse.
Do not stand by as regulators paper over insurers problems. It could well mean a disaster for you later. There is a serious problem and the insurers and regulators do not want you to know about it. Consumer protection is getting thrown out the window just as protection in banking has.
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Check these headlines:
1.Gerald Celente: "Code Red Alert, economy in collapse, drastic measures to be taken, possible bank holidays, gold confiscation, and mega-bailouts"
2.Daily Reckoning: "Secretly, bankers are already being advised about how to handle a bank holiday . . ."
3.The Economist: "Blank cheques, bankruptcy, nationalisation: the options are dire, but governments must choose between them"
4.Bloomberg: "U.S. government's pledge of billions to Citigroup and Bank of America is simply nationalization by another name"
5.UK Guardian: Cabinet Minister Says "The banks are ****ed, we're ****ed, the country's ****ed" as Desperation Begins to Grow Inside Government
6.Wall Street Journal: What to Do if Your Bank is Seized by the Government
7.Tom Whipple: "The world's economy is either collapsing or is putting on a very good imitation of collapsing . . ."
8.Washington Post: "Shadow banking system has effectively shut down . . ."
9.Option Armageddon: Is It Time to Start Stuffing Money in Our Mattresses
10.The New Yorker: Fraudulent Schemes Detonating as Economy Collapses
CANADIAN GOVERNMENT IS LYING TO THE PUBLIC! Canada is just as bad as the US mortgage problem. You just don't know it YET!
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And why exactly are banks in Canada thrown in the mix? There are only six and are heavily regulated and well capitalized. You can't just clump them will everything else with no valid data and put it in bold print like that gives it validity.
ReplyDeleteHey Anon, let me tell you something. The CANADIAN gov't just bailed out the banks to the tune of 8 BILLION DOLLARS. They also lent out over 53 BILLION dollars in 0 down 40 yr. mortgages. Please explain why the Gov't bailed them out if are "heavily regulated and well capitalized"? I will await your response.
ReplyDeletePurchasing mortgages is different than a bail-out. Canada's Banks do not need a bail out. One of the misunderstood issues that the news folks love to jump on is the notion that capital injection into the Banks is not forwarded to customers. Canada's banks are heavily regulated and are required to maintain a minimum capital ratio (i.e. bags of money in a vault in the most simple of terms) based on borrowing obligation (how much is held in accounts by customers). Unfortunately, as the economy worsens this level is increased and the Banks are required to a) either increase their reserve, or b), increase the amount they hold to maintain the regulatory standard. This is what is causing credit to remain constricted. By buying mortgages back, it frees the obligations of the banks and allows them to lower their reserves which translates into money available to be lent out (note that this money is predominanrtly lent out between the world's other banks and large corporations - we're not talking about a few thousands of dollars of consumer loans). It's a sound strategy - the banks free up capital and start inter-bank lending - these funds begin to flow which eventually makes it's way into the economy through the various ways already discussed. The mortgage assets the government buys are extremely more safe than the U.S. mortgages and the theory is that the government will retain a share of the profits as payback for this securitization.
ReplyDeleteWhat is your source for the "$53 billion dollars in 0 down 40 yr. mortgages" And where did you get the $8 billion from? I already know about the $75 billion I explained above.
Noted on the Vancouver Sun weekend edition side bar small box. ( Can't remember what page)States an 8 BILLION DOLLAR BAILOUT read it 5 times or more. Call CMHC and ask them how much money was insured for the 40 yr. no money down mortgages.
ReplyDeleteCanadians are lied to constantly. The reader above actually believes that this is NOT a bailout? Review the new links above!(From Globe and mail)
ReplyDeleteNew mortgage borrowers signed up for an estimated $56-billion of risky 40-year mortgages, more than half of the total new mortgages approved by banks, trust companies and other lenders during that time, according to banking and insurance sources. (Link is Now in Place above for CANADIANS)
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