US Banking System Collapsing - Fed Docs

[Micah1]

If you’ve listened to the darker ruminations on the cable news channels recently, you’ve probably heard someone say something to the effect that “the current crisis is the biggest systemic risk since the Great Depression”. I’m a high volume viewer of cable news, and I know I’ve heard just such language more than a dozen times in the last week. Given the idiosyncrasy of cable news, you might be wondering if this isn’t just today’s prevailing hyperbole to make sure you wait through the next commercial break to see what it’s all about. In this particular case, you might want to hold off on that grain of salt.

http://criminalthoughts.com/2008/02/05/fed-release-banks-insolvent/

Digg it if you got Diggs. Educating the populace is a must if we are to continue the revolution!

 

[agaiziunas]

just dominos my friend... dominos.

 

[Micah1]

I assume you mean like we all used to use dominoes when we were kids..... set em up and knock the first one down, and watch the chain reaction.

I've made a bundle of money playing the short side of the equity markets and the dollar, but it is little consolation. We are very near a financial catastrophe of a scale we cannot even imagine, and the consequences would be dire.

A collapse of our economic system entails a collapse of the global system, as the American dollar remains the basis of the global monetary system.

Sound like a crisis? You bet, and in a crisis, people will clamor for anything they think might ease their suffering.

If you think a world financial system, a world central bank and a centralized global bureaucracy a la Washington DC is a bad idea, you should be very concerned about these developments.

We were handed socialism in just such a manner. Suffering people grab for any life preserver, even if they are to be chained to it.


http://criminalthoughts.com/2008/02/05/fed-release-banks-insolvent/

 

[Geronimo]

Dugg

 

[ghemminger]

thanks for this article

 

[steve254]

buy gold, before its too late