Madman Posted September 19, 2008 Share Posted September 19, 2008 I was to post in my blog about this, then i discovered this thread, so i post this here. The end of the world as we know it, almost took place on Wednesday. The global credit system came close to total seizure yesterday as yields on US Treasury bills reach zero for the first time since the Great Depression If you check my last blog entry, which is from Aug 21, it will tell you the last days of Fannie and Freddie may be due and that you should keep a close eye on Lehman brothers, Wachovia and WaMu. By now, Fannie and Freddie and Lehman have gone bust, WaMu begs Citigroup to get bought.Lehman has gone bankrupt, the largest bankruptcy in history, outnumbering Worldcom or Enron by factors. So maybe i get attention now? For your sake. Im no attention whore, i try to warn you guys here for quite some time, but either you believe im a dumb sucker or you dont give a damn. I don't care, cause i see the chance that at least one person may read this and see whats coming up. Now here is some news you probably didnt hear about in mainstream press: If the AIG bailout had not happened, the financial system would have stopped immediately. AIG has 5 TRILLION of book value, Lehman only had 612 billion. In Russia, the first bank collapsed. Short selling stocks is no longer allowed in the UK, US and Russia. The president of the United States was on TV twice in 2 days about this issue. Get an idea on how serious this is? Todays action by Paulson might be too late allready. The Paulson plan does not address the root of the problem. I dont want to go into too much detail here. However consider yourself in the USSA by now. Senate Banking Committee Chairman Chris Dodd says the United States may be "days away from a complete meltdown of our financial system" and Congress is working quickly to prevent that. Now it all is about wether these "days" are enough to prevent the meltdown of the global financial system. The last bailout of this type was in the savings and loan crisis in the late 80s. It took them months to get that law done. Now you compare days till the meltdown to months till the law has passed. Im glad some of you finally seem to notice what may be upon all of us soon. Now take the necessary steps. Stockpile some food and cash. There is a slight chance you will not need it.But there is a bigger chance you will need this. Read http://www.jsmineset.com daily to keep you informed. Other links of interest:http://globaleconomicanalysis.blogspot.com/http://www.nakedcapitalism.com/http://calculatedrisk.blogspot.com/http://immobilienblasen.blogspot.com/ You might also check this: http://home.hiwaay.net/~becraft/GreatDepression.pdf Best wishes to all of you. I guess i stop moaning now, cause if you dont see it by now, you wont notice reality even if it jumped at you and squirted grapefruit juice in your eyes Link to comment Share on other sites More sharing options...
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