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Gone in 60 days? Bank of America and Citigroup expected to fail within 60 days.

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posted on Feb, 20 2009 @ 10:38 AM
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Originally posted by pyrytyes


Is the United States government too big to fail???

-SNIP-
I think we as an independent nation are in deep doo-doo.


I gotcha, brother! Here's the heirarchy you're so close to grasping: privatization of profits, nationalization of debt, and globalization of the US government. When the government's time to be "too big to fail" rolls around, then the media and politicians won't spend weeks conditioning Americans to the word "nationalization" the word we'll all be force fed and have washed into our brains as a good concept will be "globalization."




posted on Feb, 20 2009 @ 10:41 AM
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Originally posted by guessing

Originally posted by marg6043
Unless the financial system completely collapse you will still have to pay.


There chnaces of that occuring are rather high. if that does happen expect detention camps and head chopping off with sharpies


Perhaps those in debt will be offered the opportunity to "pay off" the debt by going into "service". Indentured servitude, anybody?



posted on Feb, 20 2009 @ 11:30 AM
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Matter of a fact I wondered if Bank of America would get nationalized that name fits the government better than the Federal Reserve or Treasury.

I always wondered why the Federal Reserve, treasury aren't called the Bank of the US/America, Central Bank or America/US like every other country



posted on Feb, 20 2009 @ 11:40 AM
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Originally posted by nydsdan

Originally posted by guessing

Originally posted by marg6043
Unless the financial system completely collapse you will still have to pay.


There chnaces of that occuring are rather high. if that does happen expect detention camps and head chopping off with sharpies


Perhaps those in debt will be offered the opportunity to "pay off" the debt by going into "service". Indentured servitude, anybody?


ssssshhhhhhh!!!! don't scare everyone.

They can have my head on a silver platter thanks very much.



posted on Feb, 20 2009 @ 12:24 PM
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Originally posted by jimmyx

americas economy is 5 times larger then chinas...the world have massive investments in the NYSE...these 2 things will stop our demise...however, in the future, after all the dust settles, countries of the world will be alot more cautious about america, and will have safety valves. and if this happens again, america will become a 3rd world nation.

right now, too many billions from all over the world are trying to be saved to let america fail


America's economy is larger. So what? China was until now still willing to buy all the US junk assets. Two thirds of this country already belong to China and the US doesn't even intend to pay the amount of interest back.
So, you know what happens when you owe a bank big money and you can't pay...the bank is going after your hard assets.
Re: investments in NYSE; they are puling out the money right now...
International trade will cease to exist.



posted on Feb, 20 2009 @ 12:42 PM
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They're gone now. Take a look at the Market Data Thread...Dear lord it's carnage. The Dow crashed HARD today.

www.abovetopsecret.com...'



posted on Feb, 20 2009 @ 01:07 PM
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reply to post by projectvxn
 


Yes I noticed that too, now the so call market analist are trying to compare the downfall of the markets to the one back in 82, kind of trying to justify how we will recover.

I still don't hold my breath on this one.

The reason, the banks occurs.

Perhaps this how "nationalization" will be pushed with public approval.



[edit on 20-2-2009 by marg6043]



posted on Feb, 20 2009 @ 01:12 PM
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reply to post by marg6043
 


Of course, take a look at the thread I just posted. They're beating the drum so hard for it right now. Liberals are pretending they don't want it, the conservatives are pretending they don't want it. The only people that don't want it is the market, and the people.

Go figure right?

[edit on 20-2-2009 by projectvxn]



posted on Feb, 20 2009 @ 01:17 PM
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reply to post by projectvxn
 


Well did you just heard, the treasury department today in a meeting is now planning for another rescue plan, so there you have it, another bail out for the banks.

Next week!!!!!!!!!!!!!! another tax payer robbery can we say bend over a littler more people.




posted on Feb, 20 2009 @ 01:20 PM
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reply to post by nydsdan
 


This is why I don't worry about any of this....I don't have any credit cards...I don't have any loans....I have one thing..A mortgage...and guess what I'm doing right now? or rather what me and my husband are doing? paying our bills..only our bills...we have stopped going out, we have gotten rid of all extras...even internet...this line is per my neighbors..who have no problem with us using they're unsecure line. So what are we doing with every single bit of money we have? we are paying off our mortgage..quickly, as quickly as we can..while keeping up with our other bills. and then once our mortgage is done..thats it, we're pretty much in the clear. We have no car payments, we've always bought used cars and paid them in cash. We have no credit cards to even use. Our business we built up with our own cash that we brought in. and in alot of cases, alot of what we have is due to other customers not able to make they're payments so they trade things to us in lieu of payments...flat screen tvs, playstations.....computers, that we actually turn around and sell ourselves for profit..its worked going on 6 years now..so much so, that we've paid off 50% of our mortgage..and I stay home with our kids. our youngest is getting ready to go into preschool..and as soon as she does I will be taking a job at a bakery (I cake decorate) our plan is every bit of the money I make goes to our mortgage. with this plan...we know, we've calculated it out...we will be mortgage free...in 5 years..I'll only be 33! can you imagine? how do we do this? simple...our family times are free..walks to the park, festivals, games at home. Our kids instead of sitting in front of the tv know what a bike is, and what a ball is, and how to build forts with tree branches...we buy necessary clothing..that also looks good, but if they or we don't "need" it..we don't get it..we save the wants for Christmas and Birthdays. Am I bragging? hell yes..if everyone would do this..not only would banks and credit card companies not have so much power over us..but you'd find you'll actually be much much happier..and sleeping at night.



posted on Feb, 20 2009 @ 01:26 PM
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60 Days??? Based on what I'm seeing today, with both banks trading below $2, I'd say maybe 60 hours - if that! WAMU was seized when it slid to just under $5!!!

This is it folks - these are the final nails in the financial system as we once knew it!



posted on Feb, 20 2009 @ 01:32 PM
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reply to post by kozmo
 


They are recuperating as we speek, Kozmo, with the unvail of another resuce plan.




posted on Feb, 20 2009 @ 01:32 PM
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I am not an economist. So maybe someone can help me with this.

How many billions or maybe trillions have these companies made the past several decade?
All the money had to go somewhere. IF it went into shareholder pockets, why aren't they shelling the money back out and get their rich arses out of Cayman?



posted on Feb, 20 2009 @ 01:34 PM
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reply to post by marg6043
 


It won't last. This is no recoup. This is just the morons who think the governments next bailout will work this time...Or they are taking advantage of temporary optimism due to new capital flow from the government, and then it will quickly tank when they realize, AGAIN, that the government isn't good for it.



posted on Feb, 20 2009 @ 01:37 PM
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reply to post by projectvxn
 


We don't know how much money will be now for the bail out yet.

But the plan is to let more banks die while the big banks are saved, temporarily.

What a failure, my friend what a failure, I think our government is now run by sheer desperation.



[edit on 20-2-2009 by marg6043]



posted on Feb, 20 2009 @ 01:51 PM
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Just remember, B of A is NOT an FDIC bank. I bailed out of them years ago simply because of the nickle and dime surcharges.

Can't say I'll be sorry to see them go.



posted on Feb, 20 2009 @ 02:02 PM
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reply to post by marg6043
 


There is no sum of money great enough to save these banks. They are INSOLVENT! They are nothing more than zombies - dead men walking. The government is simply propping them up because the failure of the banks means the beginning of the revolution.

I like the way Glenn Beck described these banks - Like a "Weekend At Bernie's" movie sequel.



posted on Feb, 20 2009 @ 02:04 PM
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reply to post by kozmo
 


I will have to agree with you, the Treasury department was so desperate today with the banking going down in the markets like crazy that they had to come out with a message of hope to stop the sell out.

Because that is what was going on today it was a sell out.

So far the stop it.



posted on Feb, 20 2009 @ 02:16 PM
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Originally posted by hoagy1199
Just remember, B of A is NOT an FDIC bank. I bailed out of them years ago simply because of the nickle and dime surcharges.

Can't say I'll be sorry to see them go.


Please explain..according to a quick search B of A is on the list of FDIC banks ?



posted on Feb, 20 2009 @ 02:26 PM
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reply to post by maudeeb
 

Sorry, I could be wrong, it wasn't when I was with them and my fiancee swears they are not. I should have re-checkecd before posting.



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