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Hosea 4:6 My people are destroyed for lack of knowledge…

Posts Tagged ‘bank insolvent’

A Shocking Fall

Posted by truthpills on 2009/08/30

by Egon von Greyerz – Matterhorn Asset Management

This month we will discuss what is likely to be a major change both in sentiment and in the economy in the next few months. The autumn of 2009 will be full of shocking surprises in the banking sector, in financial markets and in the world economy. The events that we outlined in our previous newsletter, “The Dark Years Are Here” are going to start unfolding. There will also be shocking falls in stockmarkets, in the dollar and in bond markets. But these falls will create major opportunities for investors which we will also discuss.
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Many Stress Test Banks Won’t Need Help: Bernanke

Posted by truthpills on 2009/05/08

By Karey Wutkowski and Kevin Drawbaugh
May 5, 2009

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke, seeking to soothe markets worried about the eagerly awaited government stress tests of 19 big banks, on Tuesday downplayed the possibility of new taxpayer bailouts.

The central bank chief told a congressional panel that many of the banks testing out as deficient on capital will be able to bolster their balance sheets through private-sector funding, but he left open the option of more government support.
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There is no transparency so the results do not mean anything. Most people know that most, if not all of the 19 banks are insolvent. They don’t want to sell their toxic assets because the loss would be realized in their books. The mark-to-model they are using increases their worth from $.20 to $.90 to the dollar. This does not include trillions and trillions of credit default swaps they will owe. Take most of your money out! Buy physical gold and silver, and hold it in your possessions–don’t invest into paper GLD or ETF! Spread your money in different safes. When there out bank holidays coming within the next 12-24 months, you’ll have money on hand. Banks are only paying you less than 1% interest, it’s not worth the risk. Gold and silver will go up much more than that now since China and the global elites are snatching up gold. The global elites are using central banks to drive down the price gold and silver so that they can buy it up cheap. They do this by dumping gold, negative lease rates, and short selling. COMEX does not have enough gold to meet all the gold contracts out there. It’s a matter of time before it collapses and the price of gold and silver jump like you’ve never seen it before.

Posted in Corruption, Economy | Tagged: , | Leave a Comment »