Goldman, Morgan to Become Bank Holding Companies

[Zarathustra]

This was last week, I wonder what this guy thinks now?


http://www.cnbc.com/id/26656750



The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe," Hennecke said on "Worldwide Exchange."

The estimated $300 billion cost of the Fannie/Freddie bailout will probably be considered as a loss that the government will have to take, therefore passing it on to taxpayers, he explained.

"We already have $3 trillion of debt, as far as the U.S. government is concerned. These debt figures across the U.S. economy are rising very sharply."

When the government can no longer pass the United States' "immense debt" on to taxpayers, it will turn to the holders of U.S. dollars, leading to the eventual downfall of the currency, Hennecke said.

[QUESTINY]

Originally Posted by Zarathustra

This was last week, I wonder what this guy thinks now?


http://www.cnbc.com/id/26656750



The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe," Hennecke said on "Worldwide Exchange."

The estimated $300 billion cost of the Fannie/Freddie bailout will probably be considered as a loss that the government will have to take, therefore passing it on to taxpayers, he explained.

"We already have $3 trillion of debt, as far as the U.S. government is concerned. These debt figures across the U.S. economy are rising very sharply."

When the government can no longer pass the United States' "immense debt" on to taxpayers, it will turn to the holders of U.S. dollars, leading to the eventual downfall of the currency, Hennecke said.

Z, I believe we are close. INFLATE OR DIE!!!!! WE must have Zimbabwe inflation first.

[Love/Light 13]

So now there are official two, count them two central, semi-public, investment banks in the country. Are we really just gonna sit idly by and let this happen? I have seriously considered heading out to Switzerland (Interlaken) to teach and just chill for a bit........... any takers??

*****************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"

Ron Paul, where art thou?

[Zarathustra]

Originally Posted by QUESTINY

Z, I believe we are close. INFLATE OR DIE!!!!! WE must have Zimbabwe inflation first.

Originally Posted by QUESTINY

The Fed also is going to cancel ALL access to the Discount Window for all banks except MS and GS...words of the day are "Consolidation of Wealth"

Anyone! Anyone!

Utter madness. Hitler would be proud.

[RubyTuesday]

*shudder*

I feel like I'm watching a movie. I'm not scared, though. What will be will be and at this point I'm just along for the ride.

[QUESTINY]

Hi Ruby. It is a movie! 3 hours ago the Russian stock market went up 30%. Our futures market is down 200 points and Gold and Silver are up. Get ready. It will be an interesting Monday.

[Zarathustra]

Originally Posted by QUESTINY

Hi Ruby. It is a movie! 3 hours ago the Russian stock market went up 30%. Our futures market is down 200 points and Gold and Silver are up. Get ready. It will be an interesting Monday.

and that's 200 points down with short selling banned, wow!

[Rocky_Shorz]

Originally Posted by Zarathustra

and that's 200 points down with short selling banned, wow!

any word yet from the meeting this weekend on the proposed "plan"

[QUESTINY]

Hi. This thread is the result of the meeting. They will get the 700 Billion too because the Federal Reserve are above the government. It is all for show that they get Congress to vote.

[Mizar]

Questiny never sleeps, Mizar cannot keep up, and it is Sept 21. the clock is ticking louder than ever.
Keep us informed Questiny, so Mizar doesn't have to quit his Dayjob.
M

[Zarathustra]

Originally Posted by QUESTINY

Hi. This thread is the result of the meeting. They will get the 700 Billion too because the Federal Reserve are above the government. It is all for show that they get Congress to vote.

Yes, and surely they will get the dictatorial powers as well, i.e. no judicial review, etc...

[Northboy]

And its not even September 30th yet.

I wonder how much crud is on the government's books that the taxpayers don't know about.

[Zarathustra]

Originally Posted by Northboy

And its not even September 30th yet.

I wonder how much crud is on the government's books that the taxpayers don't know about.

That number is going to be ugly.