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A conversation with my brother. Financial meltdown related.

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posted on Oct, 22 2008 @ 09:15 AM
Hi all, I'm usually just lurking on here but in the recent financial situation I would like to contribute what I can.

My brother used to work for one of the big banks that was "bailed out". Luckily and I'm sure knowingly he left right before the meltdown took place. He has always been the Ivy league kinda person but still holds his own thoughts. I've been more of the, everything is a big show.

Anyways, we talked on the phone the other day and I was pressing him pretty hard on how this current system is a debt machine, the fed reserve is a sham, ect ect we all know what I'm saying here.. To my surprise and shock he had no rebuttal and admitted this was basically true.

He has been warning us over the past 2 years of the coming credit crunch and sub prime mess. When the dow took the 1st big hits he called warning my family to take some cash out just in case. I don't believe he would ever disinfo me or anyone for that matter. He doesn't seem to be totally locked into the system and it's disinfo.

To another surprise, he said this will recover eventually but will take a few years. He also said he will be putting %90+ of his investments into stocks at that point. Which was again a shocker. He is also called the auto industry meltdown back in the winter and approached one of the best auto industry analyst in the financial sector about it, he was shunned and decided to play it safe and not short them. I believe since then he has seen how the system works against truth and spreads disinfo for stability.

I would also like to call on ATS members to give some questions to ask him. The more technical and specific the better. If we could have him answer some key, specific questions it may help us formulate a better bigger picture.

Thanks for your time and thanks to all the posters out there keeping us on the path to truth.

posted on Oct, 22 2008 @ 09:39 AM
I too have heard from credible sources in the banking industry that they expected the DOW to fall to around 8000 and then pick back up. Mind this was a week before the DOW hit the high 7000's.

I am beginning to believe we here are on ATS were the ones who have been duped and the world is not coming to an end just yet. However, that being said it is always better to be safe than sorry and I am still getting prepared myself for an economic meltdown.

posted on Oct, 22 2008 @ 09:51 AM
question to your bro, if this has been a 2 year anticipation... why didn't he do/say anything? second question, if it was a 2 year anticipation why didn't ANYONE say/do anything? what did he observe as his co workers and bosses reactions to claims of a meltdown etc. i would just like to get an idea how the system let itself crumble, if you get my drift. and does he think NOW 10-21-08 is a good time to get in the stocks?

posted on Oct, 22 2008 @ 10:00 AM
reply to post by indigothefish

I would think that is an easy question to answer. A lot of people did try and say something and do something... this is an example of what happened when they did....

posted on Oct, 22 2008 @ 10:07 AM
Maybe three years ago or so, I was at a pub with friends and an analyst from one of the larger Nordic bank groups sat near me. He looked really upset so I started talking to him. Naturally he didn't/couldn't tell me the nature of the thing that was upsetting him so much but he did say that bank was doing something very seriously wrong and that his warnings were falling on deaf ears. He was torn between tears and fury, the poor chap.

In any case, not too very long afterward, I saw him again but this time he was working for one of those companies to which Mr Buffet just gave a healthy infusion of cash.

Maybe it's something, maybe it's nothing. I'm just saying...

posted on Oct, 22 2008 @ 10:15 AM
Ask him simply "when is the floor?".

I reckon financials have floored, with a possible 20% further decline in the long term over the next two quarters.

American auto is about to become a dinosaur... aka extinct. Only the supergroups such as Volkswagen, Merc, BMW, Tata, Toyota and the Ghosn led groups of Nissan and Renault will remain in my opinion.

Then comes wider industry, reeling from a backwards multiplier effect. Metals suppliers drop, commodity mines close up and there is excess capacity leading to big drops in resource prices.

Currency is on a precipice atm. It all depends on who decides to hold the dollar and who decides to stab a knife in it.

Simply put, the sharp financial crisis may be over... but the real economy is about to feel the brunt. Main street is yet to feel the pain.

posted on Oct, 22 2008 @ 02:00 PM
Thanks for the replies. He mostly deals with distressed assets and companies so try to relate the question around that.

For those of you who are looking for the crystal ball, its not here.

What I am trying to do here is gather some honest answers from him for you. Not simply, where does this go from here...

It is up to YOU to come up with your own conclusion from what I am trying to provide in this thread.

Not to be an ***hole but we need to keep these specific, not general questions from Joe Six Pack.

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