The Risk of a Total Systemic Meltdown Is Now as High as Ever!!!

The Risk of a Total Systemic Meltdown Is Now as High as Ever!!!

cryptogon.com

The next step of this panic could become the mother of all bank runs, i.e. a run on the trillion dollar plus of the cross border short-term interbank liabilities of the US banking and financial system as foreign banks as starting to worry about the safety of their liquid exposures to US financial institutions; such a silent cross border bank run has already started as foreign banks are worried about the solvency of US banks and are starting to reduce their exposure. And if this run accelerates - as it may now - a total meltdown of the US financial system could occur. We are thus now in a generalized panic mode and back to the risk of a systemic meltdown of the entire financial system.

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Perhaps out of the ashes, like a lot have been proposing , will come a better monetary system. Any ideas? While these goons panic and yank all there funds from the banks, is this helping the situation at all?

The rich are currently buying up all the available gold so If you have any saved I'd hang onto it being that it has tangible value.

"Investors in gold are demanding “unprecedented” amounts of bullion bars and coins and moving them into their own vaults as fears about the health of the global financial system deepen. Industry executives and bankers at the London Bullion Market Association annual meeting said the extent of the move into physical gold was unseen and driven by the very rich."
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(visit the link for the full news article)

[edit on 1-10-2008 by oconnection]

The crisis is not just in the US. Several major countries are also in the process of bailing out their financial sectors as well. This is global. Greed is apparently an international pastime. Another thread here cites a very recent Ohio State study on the housing meltdown and it says that 'as much as' (meaning worst case scenario) $180B could default in owner-occupied first mortgages. $180B is nothing to sneeze at but is a far cry from the numbers they've been talking about.

What is happening is the inevitable fact of the fate of this type of banking. They lend up to 20 times what they have in actual liquid assets. Now, with a run, they find out that all of that irregulated lending is going to come back to roost and the poop will hit the fan.

Yes, we need a new monetary system. The one that our forefathers wanted for us. Will it happen? I doubt it. These people are ruthless and will go so far as to start a global conflict in order to keep what they have going. They continue to scoop up all of the worlds assets piece by piece.

In other words, it's all a big game and they are very good at playing it.

reply to post by oconnection


History has shown the opposite to be true. Anyone that believes that people will do anything but hand over their rights to government, in exchange for their wellbeing, is foolish.

The most monsterous of leaders came into power when the people were weak with desperation and poverty. Central Governments take root when the people are too poor to survive on their own.

Should our economy, and then our country, fail as a result of this crisis, what will come out of the ashes will not be pretty. History has shown us that good only comes when we aspire to something higher, not when we cling to survival.

reply to post by dariousg


This is my ultimate concern. A student of history will tell you that most major wars were in fact fought over for economical reasons. For example the Revolutionary War was fought over because of very sort of thing. Many believe that the Civil War was also fought over for the very same reason.

So my concern that a major, very destructive war could be fought over this. Take away our freedoms, that's more or less allowed but take away our money and watch what happens.

I believe that's why the higher ups in office are so afraid currently and why they're deploying the 3rd brigade under Northcom.



[edit on 1-10-2008 by oconnection]

Good I hope it happens. I live on a lake near a forested area, I've got plenty of fish to fry and enough small game to last me a few years. Bring on Depression 2 and let the bankers all jump in front of trains while I do my Daniel Boon impression for a few years.

Originally posted by grimreaper797
reply to post by oconnection

 

History has shown the opposite to be true. Anyone that believes that people will do anything but hand over their rights to government, in exchange for their wellbeing, is foolish.

The most monsterous of leaders came into power when the people were weak with desperation and poverty. Central Governments take root when the people are too poor to survive on their own.

Should our economy, and then our country, fail as a result of this crisis, what will come out of the ashes will not be pretty. History has shown us that good only comes when we aspire to something higher, not when we cling to survival.

Tell that to King Louis of France. There gets to be a point when a government can Usurp the people for so long and then the tipping point. My friend we are at that tipping point. However we will need a back up plan I do agree. We dont want the same financial issues as we had after Andrew Jackson ended the US bank in the 1830s.

reply to post by rufusdrak


Yea most of us live the city my friend. I personally would love to take my family out of place but this is where my entire family lives, where I work, ect. Don't get me wrong, I have been stockpiling water, food, and ammo.

My friends to this day mostly think I'm crazy even in this day in age. But guess who will be knocking on my door if sh*t hits the fan.

reply to post by mybigunit


It sure seems that way. I was watching CSPAN where a gentleman recieves calls based on the biggest news that day. The topic of course being the Bailouts. Caller after caller rejected the idea of the bailout. cspanjunkie.org...

So yea people on a mass scale are finally starting to wake up. I find this encouraging!

[edit on 1-10-2008 by oconnection]

reply to post by oconnection


I think.... and this is just a thought... that you believe too much in monetary systems. We've done this, countless times before. We've gone from tyrannical central banking credit to gold backed notes to fiat currency to credit to gold backed currency to fiat notes to etc etc etc over and over and over again... and look where we are now? BACK to the same place we've always been at... we need a new philosophy about wealth and how it can be distributed fairly.

I would guess that some enlightened form of a socialistic republic would be the best thing for humanity, but there's gotta be a way to depose the rich and powerful of influence... and I'm afraid that will not come without a more enlightened era of humanity. I feel like this era is approaching. I've witnessed random enlightenment myself, but to just switch over to socialism or something slightly related to it (take the best aspects of socialism and the best aspects of a republic and small gov't... possibly) system right away would be a mistake, most definitely.

We need to learn a lesson first. We need to be reminded of charity and goodwill towards each and every man, and I'm afraid only HARSH times will teach us to evolve out of this bestial and materialistic state. We are animals, remember. Animals evolve... or so Darwin said.

Originally posted by rufusdrak
Good I hope it happens. I live on a lake near a forested area, I've got plenty of fish to fry and enough small game to last me a few years. Bring on Depression 2 and let the bankers all jump in front of trains while I do my Daniel Boon impression for a few years.

Planning on fishing? So is everyone else!
Your lakes going to be fished clean if we have a food problem.
Hunting would dry up eventually as well.

There are some very good survival guides out there that talk about this.
Youre going to have to grow your own and youll need to breed animals
for meat. Same way we did it in the old days.

Ive been awake for years now its all a waiting game. While youre waiting
read some survival manuals. Learn to make traps. Learn to grow food etc.

reply to post by dunwichwitch


I've been a follower of this for a long time my friend, I know how money works but like every other person, I need money. For the past few years I've been purchasing hard assets, like gold, solar panels, water filtration systems, canned foods, water, wood, ect so yea unfortunately until a better system arrives I'm more less a user like everyone else.

[edit on 1-10-2008 by oconnection]

OC, As far as I'm concerened the latest financial fiasco is just another controlled event to polarise global markets and the banking system with the sole aim of the 3 spheres of influence that the perps want. Big changes require big events to bring them about. I can see the NAU on the horizon for the US when the dust has settled.

reply to post by mybigunit


Yeaaahhhh, you do remember what happened when the monarchy fell right? When the revolutionary wars started. The Reign Of Terror, where tens of thousands were executed without any trial?

The new revolutionary government went from republic to dictatorship practically overnight. They used violent oppression to any opposition, they forced farmers to surrender whatever the government "needed", be it grain or whatever, and corruption went rampant.

Now think about the country we live in. How many right wing christians do we have in this country? How many extremists do we have in general? Can you imagine the religious power grab to form an official *insert religion here* government there would be? Honestly, take a look at the country around you. The people around you, take a good look at their beliefs.

You think they are extreme now? Wait till they are starving. They will turn to whichever leader promises them a way out and fits with their views. In a country as emotionally, politically, and ideologically charged as ours, I hate to see people be forced into an extreme situation, further radicalizing their belief system.

edit: Oh, and lets not forget, when things finally balanced out in france, they ended up with napoleon, an emperor.

[edit on 1-10-2008 by grimreaper797]

I just read that a major "household name" insurance company is now on
the verge of bankruptcy.

Second Paragraph Down at: abcnews.go.com...

This is getting to be pretty scary...it's like the dominos are starting to
fall, but with virtually no advance warning.

Let the rich have the gold.. You'd be better off getting bullets...

Originally posted by oconnection
reply to post by rufusdrak

 

Yea most of us live the city my friend. I personally would love to take my family out of place but this is where my entire family lives, where I work, ect. Don't get me wrong, I have been stockpiling water, food, and ammo.

My friends to this day mostly think I'm crazy even in this day in age. But guess who will be knocking on my door if sh*t hits the fan.

Ammo..?? And you live in L.A.?... That CAN'T be legal.

Don't worry I won't tell.

reply to post by rufusdrak


Both my rifles and my .45 are registered, nothing illegal going on, thank you though lol.

[edit on 1-10-2008 by oconnection]

reply to post by Memysabu


Well if you live near a place like I do then I dont think it would get over fished our hunted clean. Most rual places will be extremely tough for most people to get to in times of panic and I could hike for a few hours to places and lakes that people from elsewhere would never find. I truly think Canadians will do fine for the most part if there is a global depression.