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Meltdown US banks within weeks says Fortis chairman

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posted on Jul, 2 2008 @ 07:22 AM
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posted on Jul, 2 2008 @ 09:30 AM
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Does it not occur to anyone that perhaps Fortis is profiting from the rumors it is spreading?

The Chairman of Fortis obviously does not know much about the subject, as he is predicting the bankruptcy of General Motors (which has enough cash on hand to last two years without any sales at all); the U.S. Federal Reserve System would prevent the wholesale bankruptcy of the U.S. Banking system, etc.

Is it possible that there is a concerted campaign out there to attempt to destroy the US Financially? That companies like Fortis, and some foreign governments are manipulating the markets, in an attempt to "bring down the Americans"?

Just think about something, the last time the U.S. economy went "bankrupt", it took the rest of the world with it. The U.S. was affected much less severely than Europe, Asia and the 3rd world.

Remember the 1930's folks, and just keep on doing what you are doing. It will be much worse for you, than it will be for us.



posted on Jul, 2 2008 @ 09:54 AM
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reply to post by OldMedic
 


Thats a possibility. The same was suggested with the Royal Bank Of Scotland's release. It may be a conspiracy



posted on Jul, 2 2008 @ 01:09 PM
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On yahoo the other day, Citibank was attacked by 'Hackers' stealing ATM PIN codes resulting in millions stolen , Also a realitive of mine told me Citi-Group the offices/ information process centers behind Citibank have had lay offs in the thousands even an ENTIRE department at her office was taken out. She was told Citi-Group/Banks were close to going under.


FISHY??


-Resist



posted on Jul, 2 2008 @ 01:16 PM
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OK,

I am the most un-saavy economic person you can find. I can't balance a checkbook, But there is something I don't understand here and I am wondering if someone can clarify for me.


If a company needs to bring in more revenue, they have sales, contests, bargains, whatever it takes to catch someones attention.

It seems with mortgage loans, or any loan, if you can't pay it, you lose your home. Of course the banks are in trouble because they can't sell the forclosed homes.

Now, lets pretend I own the bank of Nixie. If people couldn't pay me at all, or had trouble. I would rather have some revenue, instead of none. So I would, cut interest rates, maybe drop the payment a little. Even half of the money is received is better then none. I could try to sell the house but if no one is buying it is still none. Give someone six months to a year to make it up before giving the boot. That gives them time to get second jobs or whatever.

So why isn't more effort made on the behalf of banks to give people a chance to pay?



posted on Jul, 2 2008 @ 01:30 PM
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I believe a concerted financial attack is being mounted against the U.S. What they know they can never accomplish on a battlefield is being tried against the U.S. economy by knocking the value of the dollar down and raising energy prices sky high.

Hopefully, the U.S. leadership is not too stupid and/or too slow to react to and deal with this attack. If handled by the U.S. correctly, the result will be the same as all previous world "wars".

[edit on 7/2/2008 by centurion1211]



posted on Jul, 2 2008 @ 01:46 PM
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reply to post by centurion1211
 


Well we are seeing imo a fire sale of the US economy to other countries..

Our corporations are being bought up for pennies on the dollar.. I don't know enough about economics quite honestly to know the long lasting implications of that..



posted on Jul, 2 2008 @ 02:07 PM
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I seriously hate this Fortis company. It's a Belgian/Dutch company that so necessecarily had to buy ABN Amro, together with RBS and Banco Santander while they actually did not have enough capital to buy their part of the company.

These guys had to borrow money from a Chinese insurer that is in problems itself now. Now they are in huge problems and had to borrow money from a Russian elite and some Libyan guy.

Now it comes... they already have to sell parts to Deutsche Bank (within 6 months) of buying the company, as they lack cash to keep their business running.

ABN Amro was a huge and great bank ruined by some stupid company that cannot even finance itself.

[edit on 2-7-2008 by Mdv2]



posted on Jul, 2 2008 @ 03:08 PM
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Originally posted by OldMedic
Does it not occur to anyone that perhaps Fortis is profiting from the rumors it is spreading?


How? The stockvalue of the company dropped...that is no profit. The profit will be only security when things go down as he says they will. And uptill now it looks that way...the US still did not solve their creditcrisis.
Prices are going up, also in Europe, tommorrow they will the CBofE will enhance the interest rate to fight inflation..things are still going the wrong way.




The Chairman of Fortis obviously does not know much about the subject, as he is predicting the bankruptcy of General Motors (which has enough cash on hand to last two years without any sales at all); the U.S. Federal Reserve System would prevent the wholesale bankruptcy of the U.S. Banking system, etc.


When these guys say something you know they got their "wisdom" from mouth to mouth from other bankers. They could lie off course, but they certainly know what the tell you. And IF they lie, they will be escorted to the exit when the stockholders find out.



Is it possible that there is a concerted campaign out there to attempt to destroy the US Financially? That companies like Fortis, and some foreign governments are manipulating the markets, in an attempt to "bring down the Americans"?


Nobody is trying to bring down the "Americans"? First, you can only destroy yourself financially, certainly when you are a bank. There is no advantage. If you personally loan too much, who is going to pay but you? It is a ssimple as that. The US loaned too much, more then it can account for and these loans are sold to others and others. Somewhere on the line somebody is going to pay. And that is not only the Americans. the EU an China had to write of money too, because they loaned money that will not be payed back. Your question should be: Why are the Americans living on loans? And why are they not paying back. Well, because their banks said they could. And now they say, oops sorry! A "concerted campaign against Americans", how dare you?!



Just think about something, the last time the U.S. economy went "bankrupt", it took the rest of the world with it. The U.S. was affected much less severely than Europe, Asia and the 3rd world.

Remember the 1930's folks, and just keep on doing what you are doing. It will be much worse for you, than it will be for us.


There you go again with the YOU against US. There is no you and us friend, this is a global economy, so why should anyone be against you, when this is the same as being against oneself? Your last remark is by the way a point that overthrows your own theory of bad intent of the outside world.

[edit on 2-7-2008 by Pjotr]



posted on Jul, 2 2008 @ 03:17 PM
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Originally posted by Mdv2
I seriously hate this Fortis company. It's a Belgian/Dutch company that so necessecarily had to buy ABN Amro, together with RBS and Banco Santander while they actually did not have enough capital to buy their part of the company.

These guys had to borrow money from a Chinese insurer that is in problems itself now. Now they are in huge problems and had to borrow money from a Russian elite and some Libyan guy.

Now it comes... they already have to sell parts to Deutsche Bank (within 6 months) of buying the company, as they lack cash to keep their business running.

ABN Amro was a huge and great bank ruined by some stupid company that cannot even finance itself.

[edit on 2-7-2008 by Mdv2]


You are partly right. But the last remark about the Deutsche Bank is not correct. They had to sell part of in this case very profitable commercial banking activities due to EU commision rules that do not allow monopolies created by fusions or overtakes. Fortis just met a condition of the EU commision with this action, that is all.



posted on Jul, 2 2008 @ 03:26 PM
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afraid I don't have the time to read all the recent posts, but thought you should know...
I found this...

www.opednews.com...

the fortis story appears to be a net hoax...



posted on Jul, 3 2008 @ 01:03 AM
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reply to post by dawnstar
 


It's no hoax. Yesterday I sent an email to a Dutch stock exchange television show, asking them why they hadn't shown this on television. They told me they already did on Friday.

In addition, there's multiple sources claiming he's said this. The Telegraaf is a respected newspaper in Holland, what I could do, is e-mail them and confront them with your site.



posted on Jul, 3 2008 @ 03:18 AM
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Originally posted by dawnstar
afraid I don't have the time to read all the recent posts, but thought you should know...
I found this...

www.opednews.com...

the fortis story appears to be a net hoax...



The original article is created by a serious Dutch newspaper. I send a e-mail to the writer of the article you mentioned that declares it a hoax to explain its authentic origin.



posted on Jul, 3 2008 @ 05:28 AM
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reply to post by Pjotr
 


hoax or not, even the fact that such a claim is being so widely accepted is a good sign of trouble. if the claim is true, we should know soon enough...
I've been trying to get friends and family to keep a nice little stash of cash on hand, just in case the banks to go and their plastic little cards no longer work for awhile now. weather they take my advice or not is up to them.
the dow is hovering a little above 11,000 this morning, I think if it goes under 11,000, it will have been a 1,000 drop in a weeks time really. and, I got a feeling it might.
maybe there wouldn't be so much doom and gloom predictions if every observation that can be made didn't point to doom and gloom?
oh, and, the wall street guru last night was promoting some stock that dealt with pediatric hospital care....trying to encourage the people to bet on the medicare bill......ya, let's all put our money down that a broke government will forever be handing out money to keep the healthcare industry running!

wall street has gotten worse than las vagas, only they are just betting on where the government will lay down your money next!



"Democrats promise you everything even that your lawn will improve if you elect them to office. Republicans will tell you governments do not work, and when you elect them they go about proving it."
Will Rogers


time for a third and fourth party, the ones we have are no longer working for us.
by the way, I got that quote here:

www.populistamerica.com...

it was an interesting article.




[edit on 3-7-2008 by dawnstar]



posted on Jul, 3 2008 @ 02:05 PM
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Originally posted by ALightinDarkness

Wrong as usual - and as usual you jump in to gang me because you cannot hold a conversation without making sure the odds are 2v1 or greater - the federal reserve is NOT PRIVATE. Can you list ANY OTHER private corporation with a BOARD OF DIRECTORS THAT IS APPOINTED BY THE GOVERNMENT? Please stop spewing things that are wrong. The Federal Reserve is what is called - by those who actually do their research - a pseudo public organization. It cannot be private, but it was structured as much as possible to prevent undue political influence and the public sector has a direct hand in its operations by appointing the board.


First off cmon man who else would you love more than me to be ganging up on you...you know you love it. With that being said I have already had my intelligent debate on the fed on this thread
www.abovetopsecret.com...
and Im no going to delv in again but I will say that their is only a select few that can even run to run the FED and the government does not create that select list. So we get to choose puppet one or puppet two. The FED is private you can call is pseudo public but dude its public the owners of the FED (which is not known) is not the American People.




About 50 posts ago I already preempted this "LOL ITS A LIE ITS LIKE ENRON LOL" line of thought. Dismissing the fact that no one has any proof for this and its just a way to ignore any actual evidence, there has been no other company in history that has had its public audited statements released weekly and then turns around and is somehow cooking the books. They must be doing a lot of cover up to get away with that.


Show me where they are audited weekly. Please do tell. Also tell me who audits them. Not ignoring anything at all the facts are the facts and you can finagle balance sheets all you want in the world of business. But you can only do it so long before the truth causes the floor to crash from under you kind of like Enron.




You really shouldn't be so pompous and arrogant, especially because 0 of your "predictions" have been right. Get over yourself.



Hmmm you might want to check our previous debates I think EVERYTHING has come true except for the labeling of a depression. Give it time though even though I will concede one small thing and that is I feel the banks are sitting on a lot of money that they are holding on to until rates go up at which point they will start releasing the money to make huge profits. Look for Citi to be a $100 stock in 5 to 7 years but in the mean time we will all have to suffer.



posted on Jul, 3 2008 @ 10:42 PM
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This has now been confirmed as a hoax.

"This article documents how an urban legend got started the weekend of June 28-29, 2008, how and why urban legends spread virally, and what you can do to spot them and stop them."

www.opednews.com...


*snip* I just realized it's been posted previously... Oh well, here it is again.

Is there any further evidence either way?

[edit on 3-7-2008 by mattguy404]



posted on Jul, 4 2008 @ 04:34 PM
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Originally posted by mattguy404
This has now been confirmed as a hoax.

"This article documents how an urban legend got started the weekend of June 28-29, 2008, how and why urban legends spread virally, and what you can do to spot them and stop them."

www.opednews.com...


*snip* I just realized it's been posted previously... Oh well, here it is again.

Is there any further evidence either way?

[edit on 3-7-2008 by mattguy404]


Again read above. It is not a hoax. Lippens said al that in an interview with a Dutch newspaper. It was also on the Dutch news. I mailed the writer of that hoax article to inform him, but he did not answer.



posted on Jul, 4 2008 @ 04:36 PM
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reply to post by fiorano
 


need i say more. Another Freemason posting i assume..... we all know the agenda of the Freemasons...why bother to give it any crediblity at all?



posted on Jul, 21 2008 @ 07:26 AM
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Originally posted by Anonymous ATS
I've been buying gold for a year now, everytime I save up $1000. Close to 10K now.


Well, sell that all time high commodity, and use the money to pay off any loans that you have.
If you have left overs, stash it, and wait to see if gold drops back down to 2000 levels, then buy it again, if you really want gold.
Gold is currently running at 5 times 2000s prices. If you are worried about dollar deflation, get rid of your dollars. As I said, pay off your loans, then those dollars are someone elses worry.




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