Large Sarge
10th September 2011, 01:16 PM
http://babybulltwits.wordpress.com/2011/09/09/ranting-andy-urgent-alert-european-banks-crashing-rumors-of-greek-default-potentially-catastrophic-g-7-meeting-this-weekend/
Ranting Andy: Urgent Alert – European Banks Crashing, Rumors of Greek Default, Potentially Catastrophic G-7 Meeting this Weekend
Readers,
This summer, I have written continuously that there were perhaps three months to prepare yourself for the END GAME, in which global banks and currencies simultaneously crash. This outcome was baked into the cake long ago, and the actions of global “leaders,” particularly in Washington, Wall Street, and London, have made the situation vastly more catastrophic, particularly since the global financial crisis commenced in 2008.
It was only a matter of WHEN the worst case scenario would commence, and I believe that time is NOW.
Could the G-7 stave off MELTDOWN for another week or two with a series of “Global QE” announcements on Sunday (the ULTIMATE SUNDAY NIGHT SPECIAL)? Perhaps, but it’s coming as sure as death and taxes, and likely (as in 90%+ odds) no later than year-end. The European banking system will collapse before the U.S., but ONLY because it does not have the global reserve currency, which the U.S. has been able to use to print its way to temporarily higher (but still drenched) ground. And possibly it will entirely collapse this weekend, especially given that calls from Germany to abandon participation in the EFSF bailout fund have grown more shrill each day (http://www.zerohedge.com/news/things-europe-go-bad-worse-germanys-fdp-party-seeks-referendum-over-efsf).
Yields on European sovereign bonds are SOARING, while stocks of European banks stocks such as industry giants Deutschebank (DB), Society Generale (SCGLY), Barclays (BCS), UBS (UBS), and Royal Bank of Scotland (RBS) are performing swan dives reminiscent of Bear Stearns, Fannie Mae, AIG, Citigroup, and Lehman Brothers, only this time they WILL NOT be, and CANNOT be, bailed out. In the U.S., as always the PPT has held the Dow to just a 300 point decline while the rest of the world falls more steeply, but stocks like Bank of America (BAC) are all near multi-year lows, and, by the way, EVERYONE that bought BAC based on the FAKE Warren Buffet investment have lost significant money.
I CANNOT EMPHASIZE ENOUGH how DANGEROUS the situation has become, as the END GAME has started, with any number of potential economic, political, and social calamities possible in the coming months as the European and American systems come down, dragging essentially the whole world with them.
If you have not prepared yourself by purchasing GOLD, SILVER, FOOD, and OTHER LIFE NECESSITIES, the possibility exists at ANY TIME now that you will seriously regret not having done so.
And in case you are tired of hearing it from me, please read the message I just received from Bill Holter, one of the smartest financial commentators I have ever come across.
From: Bill Holter
Sent: Friday, September 09, 2011 11:52 AM
To: Bill Holter
Subject: A Greek “holiday”?
To all; I have had an hour this morning to hastily catch up somewhat with what has happened this week. Greece has officially denied default which is very scary because as you know “nothing is official until it is officially denied”. Liquidity has tightened to European banks quite dramatically and this “tightness” is being reflected in the short squeeze rise in the Dollar. How bad must it really be in Europe if the walking brain dead zombie known as “the Dollar” is rallying. Gold has held firm this week and the action in the shares has been VERY encouraging. Though at this point in my and my family’s circumstances I hate to say that my long forecasted “holiday” seems very close at hand, I believe it could be as early as this coming week.
Whether you like Rick Perry or not, he spoke the truth regarding Social Security this week, it IS a Ponzi scheme. EVERYTHING is a Ponzi scheme except that which you can hold in your hand, put in your mouth and eat, use or produce with, EVERYTHING paper! This statement will be born out to the masses and the panic INTO the precious metals will be breathtaking. It will continue until the “market clears” which will be multiples higher. Real physical Gold and Silver in any size will not come out of hiding and onto the market until they reach levels in today’s currencies that are now unthinkable or until new currencies that are backed by something are issued. We are not entering 2008 all over again here. On the contrary, we are playing out the “end game” because there are no “White Knights” left to ride in a save the unsaveable system.
President Obama spoke last night and says he will throw another $400 Billion onto the already burning pile of $ Trillions. It has not worked over the last 4 years and this latest effort is simply laughable. I recently witnessed Mother Nature at her worst, TPTB have been blatantly defying her for 50+ years. Maybe my perspective has been warped or tainted but I believe what is about to occur financially and socially will be unmatched in all of history. Not only do we need to go backwards in our standard of living, we need to go backwards by an amount equal to or greater than the amount we “overlived” by for so many years. I believe that a 35% drop in the standard of living by those who “prepared” ahead of time and substantially more than 50% by those who have not will be what is in store for us.
No one has solutions to the current events because there are none. It is only a matter of time until this reality is “perceived”. It is perception that counts and there now can be no denying that the shit house is coming down and that our “leaders” have no solutions. In fact, their “solutions” are exactly what caused what has happened and will happen.
I am now no longer at warp speed trying to get back on my feet as the bulk of our immediate work is done. We have already contracted to buy one of the 200 properties that were for sale (over 700+++ were destroyed) ahead of the crowd and even negotiated the price down! As mentioned many times before, if buying, BORROW as much “free” money as they will let you because your debts will be inflated away. If you want to pay cash with PM proceeds WAIT, your trigger point will soon become obvious. I cannot tell you how “taxed” my brain has been this week trying to figure out what to do. My greatest fear of the systemwide shutdown surely seems close at hand while our “best laid plans” got blown away by the unforeseen. My advice to those who will be enduring the coming financial storm is this: you can only cover as many bases as you can and you will surely forget something or even many things. DO NOT beat yourself up! Go forward and do the best that you can because that is ALL you CAN do. Have a nice weekend, regards, Bill H.
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This entry was posted on Friday, September 9th, 2011 at 1:12 pm and is filed under Dollar, Gold, Market Commentary, Ranting Andy, Silver. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Ranting Andy: Urgent Alert – European Banks Crashing, Rumors of Greek Default, Potentially Catastrophic G-7 Meeting this Weekend
Readers,
This summer, I have written continuously that there were perhaps three months to prepare yourself for the END GAME, in which global banks and currencies simultaneously crash. This outcome was baked into the cake long ago, and the actions of global “leaders,” particularly in Washington, Wall Street, and London, have made the situation vastly more catastrophic, particularly since the global financial crisis commenced in 2008.
It was only a matter of WHEN the worst case scenario would commence, and I believe that time is NOW.
Could the G-7 stave off MELTDOWN for another week or two with a series of “Global QE” announcements on Sunday (the ULTIMATE SUNDAY NIGHT SPECIAL)? Perhaps, but it’s coming as sure as death and taxes, and likely (as in 90%+ odds) no later than year-end. The European banking system will collapse before the U.S., but ONLY because it does not have the global reserve currency, which the U.S. has been able to use to print its way to temporarily higher (but still drenched) ground. And possibly it will entirely collapse this weekend, especially given that calls from Germany to abandon participation in the EFSF bailout fund have grown more shrill each day (http://www.zerohedge.com/news/things-europe-go-bad-worse-germanys-fdp-party-seeks-referendum-over-efsf).
Yields on European sovereign bonds are SOARING, while stocks of European banks stocks such as industry giants Deutschebank (DB), Society Generale (SCGLY), Barclays (BCS), UBS (UBS), and Royal Bank of Scotland (RBS) are performing swan dives reminiscent of Bear Stearns, Fannie Mae, AIG, Citigroup, and Lehman Brothers, only this time they WILL NOT be, and CANNOT be, bailed out. In the U.S., as always the PPT has held the Dow to just a 300 point decline while the rest of the world falls more steeply, but stocks like Bank of America (BAC) are all near multi-year lows, and, by the way, EVERYONE that bought BAC based on the FAKE Warren Buffet investment have lost significant money.
I CANNOT EMPHASIZE ENOUGH how DANGEROUS the situation has become, as the END GAME has started, with any number of potential economic, political, and social calamities possible in the coming months as the European and American systems come down, dragging essentially the whole world with them.
If you have not prepared yourself by purchasing GOLD, SILVER, FOOD, and OTHER LIFE NECESSITIES, the possibility exists at ANY TIME now that you will seriously regret not having done so.
And in case you are tired of hearing it from me, please read the message I just received from Bill Holter, one of the smartest financial commentators I have ever come across.
From: Bill Holter
Sent: Friday, September 09, 2011 11:52 AM
To: Bill Holter
Subject: A Greek “holiday”?
To all; I have had an hour this morning to hastily catch up somewhat with what has happened this week. Greece has officially denied default which is very scary because as you know “nothing is official until it is officially denied”. Liquidity has tightened to European banks quite dramatically and this “tightness” is being reflected in the short squeeze rise in the Dollar. How bad must it really be in Europe if the walking brain dead zombie known as “the Dollar” is rallying. Gold has held firm this week and the action in the shares has been VERY encouraging. Though at this point in my and my family’s circumstances I hate to say that my long forecasted “holiday” seems very close at hand, I believe it could be as early as this coming week.
Whether you like Rick Perry or not, he spoke the truth regarding Social Security this week, it IS a Ponzi scheme. EVERYTHING is a Ponzi scheme except that which you can hold in your hand, put in your mouth and eat, use or produce with, EVERYTHING paper! This statement will be born out to the masses and the panic INTO the precious metals will be breathtaking. It will continue until the “market clears” which will be multiples higher. Real physical Gold and Silver in any size will not come out of hiding and onto the market until they reach levels in today’s currencies that are now unthinkable or until new currencies that are backed by something are issued. We are not entering 2008 all over again here. On the contrary, we are playing out the “end game” because there are no “White Knights” left to ride in a save the unsaveable system.
President Obama spoke last night and says he will throw another $400 Billion onto the already burning pile of $ Trillions. It has not worked over the last 4 years and this latest effort is simply laughable. I recently witnessed Mother Nature at her worst, TPTB have been blatantly defying her for 50+ years. Maybe my perspective has been warped or tainted but I believe what is about to occur financially and socially will be unmatched in all of history. Not only do we need to go backwards in our standard of living, we need to go backwards by an amount equal to or greater than the amount we “overlived” by for so many years. I believe that a 35% drop in the standard of living by those who “prepared” ahead of time and substantially more than 50% by those who have not will be what is in store for us.
No one has solutions to the current events because there are none. It is only a matter of time until this reality is “perceived”. It is perception that counts and there now can be no denying that the shit house is coming down and that our “leaders” have no solutions. In fact, their “solutions” are exactly what caused what has happened and will happen.
I am now no longer at warp speed trying to get back on my feet as the bulk of our immediate work is done. We have already contracted to buy one of the 200 properties that were for sale (over 700+++ were destroyed) ahead of the crowd and even negotiated the price down! As mentioned many times before, if buying, BORROW as much “free” money as they will let you because your debts will be inflated away. If you want to pay cash with PM proceeds WAIT, your trigger point will soon become obvious. I cannot tell you how “taxed” my brain has been this week trying to figure out what to do. My greatest fear of the systemwide shutdown surely seems close at hand while our “best laid plans” got blown away by the unforeseen. My advice to those who will be enduring the coming financial storm is this: you can only cover as many bases as you can and you will surely forget something or even many things. DO NOT beat yourself up! Go forward and do the best that you can because that is ALL you CAN do. Have a nice weekend, regards, Bill H.
Like this:
Like
2 bloggers like this post.
This entry was posted on Friday, September 9th, 2011 at 1:12 pm and is filed under Dollar, Gold, Market Commentary, Ranting Andy, Silver. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.