Spectrism
10th October 2011, 09:11 AM
It seems to me that the stock market is pumped up about as high as it can go.... and overlooking a place it will drop nicely. It may sky-rocket later if the printing presses are used to through fake money at everything. But what is coming in the short-term?
I think we can all pretty well smell the winds of disaster that warn us of the crash and burn heading our way. The system has been over-feeding the fat banksters and the conspiring devils who sucked the life out of the economy. Now that they bled the victim into a coma, the infusion of fake money won't make the still body any more productive.
Here is an email (in part) I got talking about the bank failure in Belgium.
=================================
A giant bank has just gone under.
It’s the biggest bank failure since the debt crisis of 2008-2009.
It’s so big, in fact, that its assets are actually LARGER than the total GDP of the country where it’s domiciled.
This kind of failure is precisely what we’ve been warning you about in ourvideos!
In today’s new video, just posted to the web page this morning, Jack Crooks tells you precisely how to profit from this crisis — immediately and directly.
The bank that just failed is Dexia, and the country is Belgium. But if you don’t live in Belgium ... and you think that fact makes this failure less relevant to your banks or to your investments, consider these shocking facts:
Shocking fact #1. Dexia was one of many large banks that actually PASSED Europe’s official “stress tests” just three months ago.
And yet it’s the first to go down!? What does that tell us about the OTHER, even larger banks that supposedly passed the tests?
I’m talking about giant banks loaded with bad loans like ...
Italy’s UniCredit, which is 1.8 times larger than Dexia in terms of assets ...
France’s Société Générale, which is more than double the size of Dexia ...
France’s Credit Agricole, which is almost three times larger than Dexia ...
And France’s BNP Paribas, nearly FOUR times larger than Dexia.
The big disconnect: The official stress tests let these banks lie through their teeth about their huge loans to Greece, Ireland, Portugal and other PIIGS countries.
Those loans are worth as little as 40 cents on the dollar on the market. And yet, in the recent stress tests, the banks were allowed to value them at 100 cents on the dollar!
Result: They also lied about their capital and their solvency!
This absurd — and deliberate — oversight by the banking regulators is widely known; and they’ve already been raked over the coals for it.
What’s not widely known is ...
Shocking fact #2. It wasn’t recognition of the bad PIIIGS loans that sunk Dexia. Even today, as Dexia is being split up and sold off, it’s STILL carrying those loans at full value on its books!
So what did sink Dexia?
It was a bank run — the sudden and mass withdrawal of its funding.
Moreover, the run on Dexia’s funds was not by consumers lining up on the street to pull out their deposits. Rather, it was by so-called “wholesale funding” sources — other big banks and institutional investors who can pull out hundreds of millions of euros and dollars with a simple click of the mouse.
What makes this truly shocking is that nearly ALL large banks in Europe — including many that supposedly passed the stress tests with flying colors — also depend very heavily on these same funding sources:
On average, they get nearly HALF of their money from these here-today-gone-tomorrow funding sources. That’s far MORE than they get from ordinary deposits.
Even Moody’s admits: “Until this problem is corrected, ‘fixing’ European banking is merely applying band-aids.”
Shocking fact #3. The promises made last night by France and Germany — to “recapitalize the banks” — do NOT fix this problem!
If anything, if France and Germany throw more good money after bad into saving these banks, it will merely sink their own finances, invite more ratings downgrades, cause bigger losses in sovereign bonds, and dig a deeper hole in the banks’ capital.
They have two choices:
Let the banks fail, an immediate blow to the European Union and the euro, or
Rescue the banks, risking the finances of entire governments and a whole new round of devastating downgrades.
Either way — no matter what the European authorities do — we believe the days of the European Union — and the EURO — are numbered.
That’s why I’ve asked Weiss Research currency specialist Jack Crooks to post a new video this morning. In it, he ...
Reveals the market AND the instruments he specializes in — instruments that allowed him to build a track record with growth faster than anything we’ve ever talked about before.
Shows you why he believes even that growth could pale by comparison to the gains possible with the euro’s decline.
=================================================
I think we can all pretty well smell the winds of disaster that warn us of the crash and burn heading our way. The system has been over-feeding the fat banksters and the conspiring devils who sucked the life out of the economy. Now that they bled the victim into a coma, the infusion of fake money won't make the still body any more productive.
Here is an email (in part) I got talking about the bank failure in Belgium.
=================================
A giant bank has just gone under.
It’s the biggest bank failure since the debt crisis of 2008-2009.
It’s so big, in fact, that its assets are actually LARGER than the total GDP of the country where it’s domiciled.
This kind of failure is precisely what we’ve been warning you about in ourvideos!
In today’s new video, just posted to the web page this morning, Jack Crooks tells you precisely how to profit from this crisis — immediately and directly.
The bank that just failed is Dexia, and the country is Belgium. But if you don’t live in Belgium ... and you think that fact makes this failure less relevant to your banks or to your investments, consider these shocking facts:
Shocking fact #1. Dexia was one of many large banks that actually PASSED Europe’s official “stress tests” just three months ago.
And yet it’s the first to go down!? What does that tell us about the OTHER, even larger banks that supposedly passed the tests?
I’m talking about giant banks loaded with bad loans like ...
Italy’s UniCredit, which is 1.8 times larger than Dexia in terms of assets ...
France’s Société Générale, which is more than double the size of Dexia ...
France’s Credit Agricole, which is almost three times larger than Dexia ...
And France’s BNP Paribas, nearly FOUR times larger than Dexia.
The big disconnect: The official stress tests let these banks lie through their teeth about their huge loans to Greece, Ireland, Portugal and other PIIGS countries.
Those loans are worth as little as 40 cents on the dollar on the market. And yet, in the recent stress tests, the banks were allowed to value them at 100 cents on the dollar!
Result: They also lied about their capital and their solvency!
This absurd — and deliberate — oversight by the banking regulators is widely known; and they’ve already been raked over the coals for it.
What’s not widely known is ...
Shocking fact #2. It wasn’t recognition of the bad PIIIGS loans that sunk Dexia. Even today, as Dexia is being split up and sold off, it’s STILL carrying those loans at full value on its books!
So what did sink Dexia?
It was a bank run — the sudden and mass withdrawal of its funding.
Moreover, the run on Dexia’s funds was not by consumers lining up on the street to pull out their deposits. Rather, it was by so-called “wholesale funding” sources — other big banks and institutional investors who can pull out hundreds of millions of euros and dollars with a simple click of the mouse.
What makes this truly shocking is that nearly ALL large banks in Europe — including many that supposedly passed the stress tests with flying colors — also depend very heavily on these same funding sources:
On average, they get nearly HALF of their money from these here-today-gone-tomorrow funding sources. That’s far MORE than they get from ordinary deposits.
Even Moody’s admits: “Until this problem is corrected, ‘fixing’ European banking is merely applying band-aids.”
Shocking fact #3. The promises made last night by France and Germany — to “recapitalize the banks” — do NOT fix this problem!
If anything, if France and Germany throw more good money after bad into saving these banks, it will merely sink their own finances, invite more ratings downgrades, cause bigger losses in sovereign bonds, and dig a deeper hole in the banks’ capital.
They have two choices:
Let the banks fail, an immediate blow to the European Union and the euro, or
Rescue the banks, risking the finances of entire governments and a whole new round of devastating downgrades.
Either way — no matter what the European authorities do — we believe the days of the European Union — and the EURO — are numbered.
That’s why I’ve asked Weiss Research currency specialist Jack Crooks to post a new video this morning. In it, he ...
Reveals the market AND the instruments he specializes in — instruments that allowed him to build a track record with growth faster than anything we’ve ever talked about before.
Shows you why he believes even that growth could pale by comparison to the gains possible with the euro’s decline.
=================================================