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Large U.S. bank collapse seen ahead
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Jan Dahinten / Reuters | August 19, 2008
SINGAPORE – The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world’s biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday.
“The U.S. is not out of the woods. I think the financial crisis is at the halfway point, perhaps. I would even go further to say ‘the worst is to come’,” he told a financial conference.
“We’re not just going to see mid-sized banks go under in the next few months, we’re going to see a whopper, we’re going to see a big one, one of the big investment banks or big banks,” said Rogoff, who is an economics professor at Harvard University and was the International Monetary Fund’s chief economist from 2001 to 2004.
“We have to see more consolidation in the financial sector before this is over,” he said, when asked for early signs of an end to the crisis.
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“Probably Fannie Mae and Freddie Mac — despite what U.S. Treasury Secretary Hank Paulson said — these giant mortgage guarantee agencies are not going to exist in their present form in a few years.”
Rogoff’s comments come as investors dumped shares of the largest U.S. home funding companies Fannie Mae and Freddie Mac on Monday after a newspaper report said government officials may have no choice but to effectively nationalize the U.S. housing finance titans.
A government move to recapitalize the two companies by injecting funds could wipe out existing common stock holders, the weekend Barron’s story said. Preferred shareholders and even holders of the two government-sponsored entities’ $19 billion of subordinated debt would also suffer losses.
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August 19th, 2008 at 4:42 pm
there’s alot of people that are saying the same thing, so nobody should be surprised when it happens. Just be ready, thats all.
East Reply:
January 29th, 2009 at 7:55 pm
buy a Swiss franc
Schweizer Franken (German)
franc suisse (French)
franco svizzero (Italian)
franc svizzer (Raeto-Romance)
August 19th, 2008 at 5:14 pm
This is inevitable when creating money. Someone always has to pay! Who will be blamed though? I’d like to see Paulson’s head on the chopping block
!
August 19th, 2008 at 5:34 pm
This is not Mr. Paulson’s fault, however, it is his response-ability to deal with the residue left behind by his bosses dumb-ass decisions and actions and the decisions and actions of nearly every administration since the early 1900’s. It’s deceptive to keep the people from the truth regarding the reason for this financial collapse. I’m sure if they truly understood the truth, they may actually decide to quit blaming others and take care of their own financial responsibilities with the resources provided for them by their birth alone. The “average citizen” (if there is such a thing) is in complete control of this situation and is also completely responsible for it. We bought into the elite’s vision of what is the american dream…hook, line and sinker. Isn’t ir the “average citizen” paying others to take care of them? Didn’t you EXPECT your goverment to implement programs with the average citizens resources given to them at birth?
Let’s be realistic. What if you had a bank that wasn’t being honorable with your account. Would you trust them to be honest in the future, or would you place your money into a bank that is more honorable? Some people know what the US Treasury is. Do you?
August 19th, 2008 at 6:07 pm
Our Trilateral/Bilderberg/CFR Slavemasters (Greenspan/Volker) accelerated what has been an inevitable slide since 1913.
I don’t think Bernake (who I am not defending) knew what he was taking on.
August 19th, 2008 at 6:30 pm
what about kennedy’s executive order from june 63 …..oh wait they his head off for that….guess I better shut up so they don’t blow my head off……… BALDWIN 08 let’s pray ….
August 19th, 2008 at 6:43 pm
collapse you jew pedifiles. when you perverts are melted out and extinguisted from all uui ni vr sis we wil live in no psycpath peace …………………..
August 19th, 2008 at 6:46 pm
fuck the finances. live in peace and love.
August 19th, 2008 at 6:59 pm
get rid of the federal reserve for once and for all
August 19th, 2008 at 7:19 pm
we got to abolish the federal reserve and IRS and then have all debt start over at zero.
August 19th, 2008 at 7:26 pm
#10 – You couldn’t be further from the truth. What needs to happen is these corporations that we seem to be working under (US, IRS, FRB) need to inform alot more people on how to zero their public account over at the treasury. Not sure what all the mystery is about, but the secret has caused an unprecedented imbalance.
The Federal Reserve will survive, just maybe not with all the chips (so to speak). The power is definately in the people. Commercial processes are hidden for a reason. Think like a corporation when dealing with them.
August 19th, 2008 at 7:28 pm
THIS IS NOT A ONCE IN A LIFE TIME SITUATION, I REALLY WOULD LIKE YOU GUYS TO READ “PAWNS IN THE GAME” BY WILLIAM GUY CARR. HE EXPLAINS HOW THE BANK BARONS CREATE ALL THESE PSEUDO FINANCIAL CRISIS AND RECESSIONS THROUGHOUT THE WORLD TO GET COUNTRIES IN THE HOLE AND CONTROL NATIONS AND TREAT THEM LIKE SHEEP. WE NEED TO GET RID OF THEM FIRST. THEN RESTORE ORDER.
August 19th, 2008 at 8:15 pm
Internal patriot is wrong. There are no honorable banks.The economic system, the pure fact that we use
a monetary system that gets in the middle of everything. trading worthless paper for good’s when we should be trading good’s for good’s. The whole system was designed long ago to get you out of touch
with nature, growing your own food,making you own clothes good’s ect.Self sufficiency. Internal patriot is just that. An internal disinformation shrill from within the government.Zero out that looser.
August 19th, 2008 at 8:20 pm
BOOT THE FED, TAKE BACK ALL THEY HAVE STOLEN AND PROSECUTE THEM FOR ALL THE MISERY AND DEATHS THEY HAVE CAUSE.
August 19th, 2008 at 9:16 pm
Internal Patriot,
What do you mean by “zero out their public account at the treasury?”
August 19th, 2008 at 9:19 pm
Do you guys have any suggestions on what to purchase other than food to survive and gold for the long run? I guess I’m asking if it’s a good idea to purchase a property?
I personally thing buying anything that is linked to the banking system isn’t a good idea.
Suggestions and comments are welcomed! Thanks
August 19th, 2008 at 9:26 pm
see the case of Orange County, CA, which has apparently gotten high marks for fiscal integrity, care of Merrill Lynch!
In other words, although Orange County filed bankruptcy some years ago (reason: inability to control certain county agencies from stealing from the treasury!) it has now been placed in high standing courtesy of Merrill Lynch.
This means that Merrill Lynch may be the one to fail soon!
August 19th, 2008 at 9:28 pm
Be the banker http://www.hasbro.com/games/ki.....dollar.pdf
August 19th, 2008 at 9:40 pm
ngxhdtukghxmxnmxvnm
August 19th, 2008 at 9:45 pm
#16 ,good point,,,if possible a piece of property for ie: planting veggies and or raising beef , pork or chicken, would be a good thing. I think property for survival is an awesome inclination especially with the possible collapse of the banking industry and the insuing food shortages etc,,etc. As far as gold and silver i always maintained that you sure cannot eat either of the two,,,meaning i would trade bread for milk makes more sense if it comes to survival.
August 19th, 2008 at 9:53 pm
Dollar troubles got you down? Tired of having decide on paying for food or your car insurance? Introducing the Amero! Now with the new Amero, you can pay for food and car insurance, with enough left over for gasoline, so you can move to another country that is free……. oh wait, if the U.S. constitution goes down, so will any freedom and human rights the rest of the world has. The North American Union is here. Most people just don’t know it yet. Are we still the land of the free and the home of the brave? We will each find that out for ourselves.
August 19th, 2008 at 10:01 pm
The money for every other sonny might be what’s funny about the bunny.
August 19th, 2008 at 11:30 pm
death to the bankers
August 19th, 2008 at 11:53 pm
When we run out of jobs, money and food. We can kill each other and eat each other! That is what wild animals do!!!! I like mine smoked or with some good sweet an sour sauce….Raw is good too!!!!
August 20th, 2008 at 12:03 am
Ahah! I see what’s happening, and what’s coming. They’re purposely using this banking and home-loan debacle so the government INTENTIONALLY comes to own everyone’s mortgage who has one, essentially bringing about the government owning most, and eventually all except for the elitist globalist oligarchs, private property; and pretty soon no one will own ANYTHING of major value, but will be “loaned” it by the government if they’re “good little (slave) children”, don’t question or criticize the totalitarian communist-fascist government being erected everywhere, and blindly and obediently sell their souls, literally, to the devil, and bow down to the government unquestioningly. Never mind that no one, except the very rich who are sold out, will have any True Freedom. “Big Brother” has very good reasons for taking away all of our freedoms and controlling every aspect of our lives, and it will “protect us”, making it “worth it”. Yah, right! God help us all not to bow down to this enslavement in any way, shape or form, and/or any fashion, whatsoever!
FREEDOMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
August 20th, 2008 at 1:16 am
The banks are fiiiine.
Nothings wrong. Unemployment is down. Presidential approval is up. Freedom rings loud!
P.S. Send me all of your junk gold. You don’t need it, it’s just taking up space and reminding you of your dead grandmother. Why continue torturing yourself?
August 20th, 2008 at 2:21 am
Wake up. Pray up. Shape up and STOCK UP. Even then its going to be tough.
August 20th, 2008 at 2:36 am
…send me your brain, you don’t appear to need it, and it just reminds you how inadequate and useless you are as a being!
August 20th, 2008 at 2:51 am
When Food Prices HALVE, Will You DOUBLE In Size?
August 20th, 2008 at 2:55 am
@ avoiceinthecrowdoffreaks:
Thank you, you’re right. I don’t need it. It’s only good for critical thinking, and that was outlawed long ago, when the banks rained freedom in the form of unlimited credit (lol) upon the poverty-stricken populace of 1913.
Give me your address please, no P.O. boxes.
Would you prefer it with, or without, the cerebro-spinal fluid?
P.S.: Can I keep my pineal gland, or will you be needing that too?
August 20th, 2008 at 3:02 am
I love words like “recapitalize”.
Recapitalize!
It sounds so CLEEEN.
Recapitalize!
So Fresh. So unassuming. Recapitalize!
@ a voice in the freaking crowd :
Don’t mind me, I’m just enjoying the use of my anterior lobes while I still have them. Still waiting on on shipping address. I’ve not much money, so I was going to send it by carrier pigeon. Is that okay?
You can slaughter the pigeon when he gets there if you’re hungry.
I think it’s a “he”, but I’m not really sure how to tell the gender of a pigeon.
August 20th, 2008 at 4:41 am
Can a pigeon carry one (1) unusually enormous human brain, without the pineal gland, and about 2 cups (16 oz) of cerebrospinal fluid? Anyone? Bird experts? What is the average airspeed of a coconut laden swallow?
@ freaking voices in a crowded room :
If not, can you just come by and pick it up? I may be a bit slow to answer the door, as it’s difficult to process incoming stimuli without the cerebellum.
Ny the way, pleeaaase let me keep my pineal gland, pleeeease. I’ve grown quite… attached… to it.
August 20th, 2008 at 5:56 am
http://www.worldreports.org/ne.....low_a_war_
see it people i’ts getting closer and closer to victory be happy:P
August 20th, 2008 at 5:56 am
Recapitalize is the new verbage for depression….semantics, semantics,semantics.
August 20th, 2008 at 9:12 am
Yea and gold was going to 2,000-3,000 right.
if anyone wants to give me their worthless paper dollars I’l take the ugly things out of your sight for you.
Maybe they will listen if you march or protest.
August 20th, 2008 at 9:28 am
#15 – commercialredemption.com
August 20th, 2008 at 10:05 am
I tried to post a few links to sites that rate banks. The spam monitor used on this forum blocked them. So from now on, I’ll post only one link since that seems to get through.
http://cheapogroovo.vox.com/li.....l-you.html
August 20th, 2008 at 11:05 am
Last month I emptied my savings, checking and retirement fund. I deposit only a minimal amount of money into my checking account to pay bills; I try to pay cash for everything. Sometimes, I feel that I am overly cautious, but there is this strong feeling telling me to take my money out of the bank. I don’t want to lose my money if the s–t hits the fan. The future of the U.S financial system is uncertain; we are living in uncertain times. Has anyone else gone to this extreme? I sure would appreciate feedback, please. Thank you
East Reply:
January 29th, 2009 at 8:02 pm
i feel you kittygirl i did something lije you + i got me some swiss franks just in case
August 20th, 2008 at 11:53 am
You idiots are gonna learn.
The Fed rules you,without them you are nothing!
August 20th, 2008 at 1:09 pm
Oh no I´m moving to Spain,never mind I´m here…………………
August 20th, 2008 at 1:11 pm
At the beginning of August I heard from a high net worth friend who has a friend that is a portfolio manager on wall street, that the word is out amongst certain wall street insiders that the market is going to crash Sept. 29th Hmmm OK! A week ago I heard the same thing from a completely different source.
I was relating this info to another friend who directed me to information about a secret session of congress held back on march 18th…..the content of this session was “The imminent collapse of the U.S. economy” to occur in the fall of 2008.
Considering the status of most major financial institutions, the rumors coming from persons who work within that system, as well as such things as Jesse Ventura announcing he well not seek re-election and is moving his family to the jungles of Mexico, I would say that the message is all too clear!
People if you have not already been doing so as I have, start buying food and seed, get out of the populated areas if you can and tell as many people who have an interest in living to do the same. Then start pondering solution scenarios and discuss the possibilities. TAKE CHARGE! Out of this, solutions well present themselves and we well over come and defeat these assholes. Think outside the box, because resisting through carnal methods is already anticipated and well not work. I refer you to George Greens idea for a solution “Handbook for a New Paradigm” a free ebook found at:
http://www.nomorehoaxes.com/
August 20th, 2008 at 1:54 pm
“get yerself a pistol. get yerself a dog. stay up all night getting drunk, sleeping on a hollow log.” -Beck
August 20th, 2008 at 3:03 pm
I too have heard that the crash will be on Sept 29, 2008. Some elders in my church told me about it. It is officially when the Federal Reserve has an inventory taken to it, and it comes out really bad. I believe riots will break out in big cities, if not nation wide….and marshall law will be implimented…..resulting in a stalled Election allowing the Bush Regime to stay in office as long as they need to give the U.S. to the Roman Catholic Church……which will be the first steps in finalizing the N.W.O and Rex 84………..”Run for the hills……Run for your life”…..
Mike
August 20th, 2008 at 3:29 pm
I heard that gold was going to 2,000-3,000$ an oz. And silver at 35$+.
August 20th, 2008 at 3:37 pm
You people are something else.
You forgot all about the black helicopters!
August 20th, 2008 at 4:56 pm
Sept 29th is going to have a significant effect on the GLOBAL economy. Remember, the whole rotten system is based soley on CONFIDENCE! When the beans are spilled on the actual state of the U.S. economy, the inevitable could, worst case scenario happen. The etherial value of stocks, shares and futures markets will be greatly diminished. With 50 odd billion left to prop up the failing banking institutions after fannie and mac, which, weren’t even on the critical list of 90 or so banks, the federal reserve will be powerless to do a thing without the causal effect being massive depreciation of the already weakened dollar. This could conceivably in turn force investors to cash in their notionally valued stocks and shares and switch to commodities with intrinsic value like gold and silver. ANYONE SCARED YET? Not forgetting the run on the banks with people queing around the corner for a slice of the half trillion odd liquid cash propping up the 13 trillion in defecit. Just how much gold can the federal despotic regime release into the economy without pressing the reset button. REMEMBER THIS! In the last 100 years we have suffered TWO world wars. Anyone who thinks that this will not happen again really needs to lay off the prozac. On both occasions 100 men at the top were responsible for the death of out 100 million. Just getting warmed up to deliver the WHOPPER of all WARS it seems. And we all get front row seats, thanks GEORGE. Seed banks anyone?
August 20th, 2008 at 5:20 pm
Should the financial system fail, think about all the govt has to do is cut the electricity and no ATM and Bank can Function without electrical. Also, most grocery and hard good stores will be non functional unless they have backup, BUT only cash will be taken as the links to plastic sites will be dead. Let this info be your warning.
August 20th, 2008 at 7:17 pm
Bill Wentworth:
Amen to that brother.
August 20th, 2008 at 8:02 pm
Someone tell me there is a good chance of Marshall Law being enforced when our economy crashes and the people start asking questions and rioting? Am I the only one who is afraid of this? I could care less about my future right now, I have no future!
August 20th, 2008 at 8:29 pm
These elitists have the power to kill off all of us and we know they certainly will try at some point. Yet we as a population are to mindless and afraid to take them down first. It has to happen.
August 20th, 2008 at 9:15 pm
We need to reform our banking system. Money is the property of the United States Government. Money has no rights of its own.
August 20th, 2008 at 9:15 pm
John, why fight against what the Lord has already defeated?
“Hearken, my beloved brethren, Hath not God chosen the poor of this world rich in faith, and heirs of the kingdom which he hath promised to them that love him?” (James 2:5)
August 20th, 2008 at 11:48 pm
#54 Bill Wentwirth;
You are totally taken in by the Vatican. Religion was the Devil’s greatest Accimplidhemnt. Think abiut it,
August 20th, 2008 at 11:48 pm
#54 Bill Wentwirth;
You are totally taken in by the Vatican. Religion was the Devil’s greatest Accimplidhemnt. Think about it.
August 20th, 2008 at 11:49 pm
#54 Bill Wentwirth;
You are totally taken in by the Vatican. Religion was the Devil’s greatest Acciomplishment. Think about it.
August 21st, 2008 at 1:59 am
Maybe this mindless consumer society NEEDS to “go down.” Maybe it WANTS to “go down.” Maybe it is causing itself to “go down.” Maybe it has been “going down” for years. People jump on the band wagon when it’s already too late.
August 21st, 2008 at 2:00 am
censorship, oh Alex?
August 21st, 2008 at 2:03 am
Oh, sorry, thought it didn’t post, bless you Alex for not censoring….
August 21st, 2008 at 3:26 am
My funny valentine, sweet comic valentine- http://www.hasbro.com/games/ki.....dollar.pdf
August 21st, 2008 at 4:31 am
To Bill Wentworth: I respect your opinion, but you have been greatly decieved. Napoleon was a free Mason……all that stuff was planned long before it happened. WWi….WWII….and now WWIII have been planned as well. I know their are other people who will read this who will agree with me. If any of us want to know what is really going to happen in the near future….I would advise to crack open the bible and read “Revelation”….read the whole thing!!!!! But everytime it says “Beast” replace that with “Catholicism”….and “The Papacy”………Vicarious Feli Dei(translated) “Vicar of the Son of God or The son of God on earth……..”……I used to hate religion but the truth is the truth……Turn to God, lest we are all decieved and wage war on each other. The greatest atrocity the devil ever commmitted was making man think that he didnt exist…..so this is going to be the final war……………………..BLESSED ARE THE DEAD!!!!
August 21st, 2008 at 5:28 am
(Lord of darkness?)”And the Lord said unto Moses, stretch out thine hand toward heaven, that there may be darkness over the land of Egypt, even darkness which may be felt. And Moses stretched forth his hand toward heaven; and there was a thick darkness in all the land of Egypt three days:” Exodus10:21
August 21st, 2008 at 7:40 am
You people are so DUMB.
All they have to do is print more money. It can’t cost all that much.
August 21st, 2008 at 8:10 am
Brace yourselves out there……..
BEAT the international bankers at their own game……secure your finances!
http://www.becomericher.info
August 21st, 2008 at 9:31 am
Maxwell Smart says that all you have to do is to print more money???!!! NO, they’ve printed too much money! And the banks that receive that money are hoarding it because they’re scared that they are next!
The source of this problem is the fact that when the government “stimulates” the economy, the common middle-class guy doesn’t get that money… yea, there was the stimulus check thing, but the banks have a responsibility to give that money to whom it is entitled to, through either better interest rates on your money, or sign up bonuses, WHATEVER!
But the rich just get richer and the poor are getting poorer
August 21st, 2008 at 10:11 am
…Ah-bdi… The “Cac 40″(France) stock market is down , except for the microchip companies which are doing great !?!?!
August 27th, 2008 at 2:24 pm
Sept. 29, 2008 could be the big day for the stock market to plummet and cause martial law in the United States because its a big day for the Jewish community. It is Rosh Hashana, which is the Jewish New Year festival, held on the first day of Tishri. The day is marked by the blowing of the shofar, and begins the ten days of penitence culminating in Yom Kippur.
I’m in no way shape or form a racist person, but the NWO likes to use significant dates to start a war or and what not. For example, 8/8/08 was the day that the Russian/Georgian saga went public.
What do you guys think??