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An internal memo from a top Citibank analyst reveals what the banks really think about the global financial situation, and the outlook is grim.
"The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed through into an inflation shock," wrote Tom Fitzpatrick, Citibank's chief technical strategist.
He goes on to explain that the massive money creation efforts by the Federal Reserve and other central banks will end with one of two things: A resurgence of inflation, or a fall into "depression, civil disorder and possibly wars."
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Originally posted by Fang
I shouldn't worry. They seem to have got every other forecast wrong over the last 12 months, I'm sure this one is no different.
The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.
This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.
Originally posted by Byrd
I can think of a dozen scenarios that don't end in either "depression and civil war" or "runaway inflation."
Originally posted by Fang
I shouldn't worry. They seem to have got every other forecast wrong over the last 12 months, I'm sure this one is no different.
Originally posted by GRANDWORLDDRAMA
this is it
THIS IS HOW IT GOES DOWN
anybody been star watching lately
the big anomaly is closer NOW
this year and even withing the last two weeks
it is picking up speed, and events are picking up speed
the QUICKENING
Originally posted by SANTA CLAWS
Originally posted by GRANDWORLDDRAMA
this is it
THIS IS HOW IT GOES DOWN
anybody been star watching lately
the big anomaly is closer NOW
this year and even withing the last two weeks
it is picking up speed, and events are picking up speed
the QUICKENING
Very Cryptic
Any enlightenment on this available?