Bob Chapman ~ Just The Early Stages Economic & Financial Collapse 1/21/2009

peaceandlove · 01-22-2009, 08:16 PM

Bob Chapman's The International Forecaster

Just The Early Stages of Economic and Financial Collapse 1/21/2009

further declines in real estate, banks bankrupt, lower class, middle class, and upper class borrowers are all in trouble now, plenty of pain ahead for all lenders and borrowers, Little in loans whether it be bailouts or personal loans will ever be paid back

The real estate crisis is probably about 40% over. They'll be further declines, residential and commercial, and then a basing out period that will take several years. The injection of cheap interest rates and a stimulus package of $825 billion are going to temporarily delay the downside. Instead of ending in 2011 it could extend to 2012.

Citigroup is bankrupt. Its 4th quarter loss was $8.3 billion. Bank of America posted its first loss since 1991 of $1.8 billion. One day they requested $10 billion from the government. The next day it was $20 billion.

Citigroup is being dismantled as a failed financial supermarket. Sanford Weill who created this monster some years ago created a total failure. That is why we recommended a short on the stock at $44.10. In order to keep this loser business a new bad bank is being created to dump all of Citi's mistakes into. Those would be toxic securities and worthless derivatives. That is $850 billion of Citi's $1.95 trillion of total assets. What a disaster. Almost half their assets are near worthless, something we pointed out 3-1/2 years ago. Government has already sunk $45 billion into the bank and backs $301 billion of its toxic garbage and securities. Citi is a major shareholder in the Federal Reserve.

Bank of America has now received $45 billion with guarantees on $118 billion of toxic waste. It too is a Fed shareholder and it too is broke.

There is now no question that all the legacy or money center banks will be merged into one nationalized bank, which we believe was the intention from the beginning. This will make it easier later in the formation of a One-World government to merge US banks into a world bank that will disperse a world currency. Government is going to take an ever-increasing role in bank ownership and in credit policy, as would be expected in any fascist government.

We are still in the earliest stages of an economic and financial collapse, which was deliberately engineered to bring about eventual total control of our economy and financial system. Except for government and the Fed, Wall Street finance has been incapacitated. The government and the Fed are left to do as they please. Our bought and paid for Congress will rubber stamp anything handed to them. Bank credit will surpass $1 trillion this year to keep the elitist banks solvent and to delay the forces of deflation and depression. Overall credit expansion will expand to $2 trillion plus as many more banks, brokerage houses, lenders, insurance companies and illuminist corporate giants are served up all the cash and credit they need to survive. Very little will ever be paid back. Once the grip of the Fed and our Treasury is complete it will be almost their sole responsibility to extend credit. The excuse will be it has to be done to save the system as they chip you and give you a debit card and set up currency and exchange controls, devalue the dollar and institute wage and price controls. We then become wards of the state. They have allowed the banks to get into such awful shape, that they will tell you that they and America have no other option but to have government and the Fed mandate what will be done to save the system.

These conclusions can only be reached if you understand the powers behind government, their history, and what their goals are.......

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01-22-2009, 08:16 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Bob Chapman ~ Just The Early Stages Economic & Financial Collapse 1/21/2009 Bob Chapman's The International Forecaster Just The Early Stages of Economic and Financial Collapse 1/21/2009 further declines in real estate, banks bankrupt, lower class, middle class, and upper class borrowers are all in trouble now, plenty of pain ahead for all lenders and borrowers, Little in loans whether it be bailouts or personal loans will ever be paid back The real estate crisis is probably about 40% over. They'll be further declines, residential and commercial, and then a basing out period that will take several years. The injection of cheap interest rates and a stimulus package of $825 billion are going to temporarily delay the downside. Instead of ending in 2011 it could extend to 2012. Citigroup is bankrupt. Its 4th quarter loss was $8.3 billion. Bank of America posted its first loss since 1991 of $1.8 billion. One day they requested $10 billion from the government. The next day it was $20 billion. Citigroup is being dismantled as a failed financial supermarket. Sanford Weill who created this monster some years ago created a total failure. That is why we recommended a short on the stock at $44.10. In order to keep this loser business a new bad bank is being created to dump all of Citi's mistakes into. Those would be toxic securities and worthless derivatives. That is $850 billion of Citi's $1.95 trillion of total assets. What a disaster. Almost half their assets are near worthless, something we pointed out 3-1/2 years ago. Government has already sunk $45 billion into the bank and backs $301 billion of its toxic garbage and securities. Citi is a major shareholder in the Federal Reserve. Bank of America has now received $45 billion with guarantees on $118 billion of toxic waste. It too is a Fed shareholder and it too is broke. There is now no question that all the legacy or money center banks will be merged into one nationalized bank, which we believe was the intention from the beginning. This will make it easier later in the formation of a One-World government to merge US banks into a world bank that will disperse a world currency. Government is going to take an ever-increasing role in bank ownership and in credit policy, as would be expected in any fascist government. We are still in the earliest stages of an economic and financial collapse, which was deliberately engineered to bring about eventual total control of our economy and financial system. Except for government and the Fed, Wall Street finance has been incapacitated. The government and the Fed are left to do as they please. Our bought and paid for Congress will rubber stamp anything handed to them. Bank credit will surpass $1 trillion this year to keep the elitist banks solvent and to delay the forces of deflation and depression. Overall credit expansion will expand to $2 trillion plus as many more banks, brokerage houses, lenders, insurance companies and illuminist corporate giants are served up all the cash and credit they need to survive. Very little will ever be paid back. Once the grip of the Fed and our Treasury is complete it will be almost their sole responsibility to extend credit. The excuse will be it has to be done to save the system as they chip you and give you a debit card and set up currency and exchange controls, devalue the dollar and institute wage and price controls. We then become wards of the state. They have allowed the banks to get into such awful shape, that they will tell you that they and America have no other option but to have government and the Fed mandate what will be done to save the system. These conclusions can only be reached if you understand the powers behind government, their history, and what their goals are....... Article Continues Here: http://www.theinternationalforecaste...ncial_Collapse