Saturday, 20 June 2009

Money, Credit and the Federal Reserve: Your source of info on banks, credit, Federal Reserve, and money

Ahh, the banks!!

Bloomberg headline reads: Georgia, North Carolina, Kansas Banks Shut as U.S. Tally for Year Hits 40 . That's 40 banks bankrupt this year. Quietly it makes the headlines. Apparently we are all desensitized to collapsing banks. Listen, the economy cannot be healthy if banks are still going bust every week. Credit busts bring depressions and that's what we are experiencing. It's right in front of our faces, but some of us choose to deny the truth. All I can say is liquidate any assets depreciating in value, move some of your capital to gold (near the end of the depression), and be on the sideline in the stock markets when the next leg down in the depression begins. (Probably in the fall of 2009 or early 2010).

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