Ancona
13th February 2009, 11:19
Jim Willie writes the "Hat Trick Letter" in which he expounds upon various economic situations. This week, he discusses the big three banks, and their fundamental insolvency. This is very important for those of us holding PM's, because any breakdown within these organizations may result in a liquidation of their PM positions on the Crimex.
I will not presuppose that the Federal Government will let these guys fail outright, but stranger things have happened. Chatter on the street is getting louder regarding a possible bank holiday, and even outright failure of several huge institutions.
Folks, this stuff is going mainstream now, and even the talking heads are joining in on the chorus. I have some free advice for all of us with a few extra FRN's.....trade them immediately for gold and silver. The train has gained speed and at the same time, it is getting longer.
http://www.financialsense.com/fsu/editorials/willie/2009/0213.html
Take this man for what you will. I read through and then try to back into the facts with some corraboration, then digest his writing. He is a dynamic writer and a die hard doomer, so again, take it for what it's worth. He is at the very least.....entertaining.
I will not presuppose that the Federal Government will let these guys fail outright, but stranger things have happened. Chatter on the street is getting louder regarding a possible bank holiday, and even outright failure of several huge institutions.
Folks, this stuff is going mainstream now, and even the talking heads are joining in on the chorus. I have some free advice for all of us with a few extra FRN's.....trade them immediately for gold and silver. The train has gained speed and at the same time, it is getting longer.
http://www.financialsense.com/fsu/editorials/willie/2009/0213.html
Take this man for what you will. I read through and then try to back into the facts with some corraboration, then digest his writing. He is a dynamic writer and a die hard doomer, so again, take it for what it's worth. He is at the very least.....entertaining.