Fortis Prediction of Meltdown now said to be Hoax

Someone's reaction to the Fortis prediction of economic meltdown... says it's a hoax.

www.opednews.com...

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.

On Sunday, June 29, I received several forwarded articles alleging a large European banking conglomerate predicted a United States financial "meltdown" within coming weeks.

Well, it obviously was a hoax. It's such an outrageous claim to start with - there are only 8,500 banks registered with the FDIC.

The "prediction" said within 2 weeks, 6000 banks would go bankrupt. Now, 15 days late, and only 1 bank has gone under.

Further, it now appears that this hoax started (and is still being perpetuated by) people from gold commodities/gold market discussion boards. I've been reading one of them (KitCo) where members are actually bragging about posting these alarmist articles on other sites, whether they are accurate or not. I also see that spreading rumors to influence/manipulate the price of gold, or any commodity, is highly illegal.

Truly, our economy is in trouble, thanks to Bush "blank check" economic policies, corporate welfare, backroom deals with oil companies, and this expensive war. But, it looks like we may lose two or three large banks in coming weeks... not 6,000!

reply to post by Ceara


Yes, yes... no economic meltdown here. Everything is just hunky dory other than.. you know, the fed bailing out a major bank and potentially having to step in on two other huge banks with 5 trillion in assets. This doesn't even resemble a meltdown. Stupid urban legends.

[^sarcasm]

reply to post by Ceara


Please tell me that you are not honestly going to continue to perpetuate the myth that this is just a phase. Please tell me you are kidding. Were screwed! get used to it. Its over, put a fork in it, it's done.