Facing A Total Breakdown Of Financial Markets ~ BOB CHAPMAN 10/28

[peaceandlove]

Facing A Total Breakdown Of Financial Markets

Posted: October 28 2009
By: Bob Chapman

Yet another bank bights the dust, stocks have net outflows of capital, big insider sell offs and other bad moves that enable insiders to control the market, biggest S&P rally ever, Plunge protection team working overtime, Gold in a new phase

This is another victim of the FDIC Friday Night Financial Follies.

Early Friday morning, state and federal agents walked into the Bank of Elmwood and closed the failed 49-year-old independent bank after a year of struggling to improve a bleak financial situation, officials announced Friday.

The Wisconsin Department of Financial Institutions shut down the bank and turned it over to the Federal Deposit Insurance Corporation. The FDIC in turn sold it to an Oak Creek-based bank.

The FDIC entered into an agreement with the Oak Creek-based Tri City National Bank to assume all of the Bank of Elmwood deposits and assets.

Continues: http://www.theinternationalforecaste...ancial_Markets



Excerpts:

The Fed and Wall Street tell us the recession is over and soon policy actions will continue to a gradual resumption of sustainable economic growth. They see no inflation ahead, only the 1.2% presently. Needless to say, they are well aware that real inflation is 6.11%.

The Illuminist’s plans to destroy America are coming unglued. Their puppet in the White House has monstrous problems. Plunging approval ratings, Cap & Trade legislation being held up in the Senate, medical reform that is going nowhere, massive deficits and a stimulus package that isn’t working.

From here on out the Fed isn’t going to get away with anything. Anyone who has been in the market for any length of time knows all of our current problems emanated straight from The Fed. It is now obvious that the take down of the dollar is deliberate and there is little effort to save it; just an effort to bring it down slowly and incrementally.

Gold has entered phase 2, which we described in 2000. Phase 2 will carry to $2,500 to $3,000. That should be followed by phase 3 to $6,700. That will then allow gold to reflect real inflation since 1980. Needless to say, in 2000 we had no idea that China would be the propellant to move gold higher. As you know 96% of letter writers, analysts and economists have stated gold will fall below $1,000 again. They are wrong and as usual they will continue to be wrong. They cannot understand that this is psycho-political warfare and there are no rules. He who has the gold makes the rules.