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Hi Bill -
I understand that some of my Road to Roota followers were disappointed in my call that you deamed as "Way Out There" last week.
I admit that I have missed on timing (repeatedly) before but I don't think I did this time.
Last week this was my call:
"I continue to believe that next week will be the week that shakes the financial world at its foundation."
I believed it happened on Sunday evening.
Although it may not seem like it on the surface.. yet... I believe that the "temporary structural I-beam" that has supported our financial system for the past 8 months CRACKED on Sunday night with the bankruptcy of Capmark Financial. Capmark was THE ring leader in the Commercial Real Estate derivatives markets. Two days later GMAC declared they needed many more billions from the government. CIT will likely go down this weekend.
But the key to all this is that the Commercial Real Estate Derivative market is now IMPLODING. Everyone talks about the imploding Credit Default Swaps at AIG...which were bad but they are dwarfed by the derivatives related to Commercial Real Estate.....
....My call that this week will mark the END of the cabal will be proved out over the next few weeks/months.
The world changed this week…and most people have no idea.
Originally posted by Privacy-Please
Ford made $1 Billion in Q3, there first profit in years.