The banks will soon be back for more bailouts. They're not telling you and they're denying it but they will. This time though, the government will also be broke and the people too. This is going to be a crisis that no-one can fix.
If you want to know why the next crisis is imminent I suggest you read this FREE report by the New Economics Foundation here called 'Where Did Our Money Go?'
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Update:
Royal Bank of Scotland may take legal action against Goldman Sachs according to The Irish Times. The story relates to the RBS acquisition in 2007 of the Dutch bank ABN Amro. It seems that the world of global banking is starting to turn in on itself. Read the story here.
It's a pity RBS shareholders can't sue RBS for incompetence. How many RBS shareholders lost their shirts when RBS bought ABnAmro and then went bust ?
ReplyDeleteThe main man of course, Fred the Shred, walked off into the sunset with his pockets stuffed with cash.
It's almost as bad as the windmill scam. Although admittedly not as expensive.
The thumb twiddling and printing presses are still working soon nothing else will.
ReplyDeletehttp://market-ticker.org/akcs-www?singlepost=2198100
cynical...
ReplyDeleteGood article. The only conclusion from the article is that the whole banking crisis has been carefully planned and the attempts at recovery also planned - QE, bank bail outs etc.
We know this because the FED, US Govt, IMF, World Bank, EUSSR etc are all following the same script. The script that was written 20 years ago when Japan wrote it.