Global Banking System on the Verge of Total Collapse?
If this is the case – then why doesn’t Congress and Miss Yellen do somethin’ or start yellin’ From the looks of her picture – she looks excited?
By Damon Geller
As the axiom goes, “Those who ignore history are doomed to repeat it.” And since our politicians, bankers and citizens have ignored the horrifying events of just 6 years ago, the United States and the rest of the world are about to repeat history in record time. Greece is only the beginning! Recent data now confirms our worst fears: the factors that led to the 2008 collapse of the banking system are back with a vengeance.
Only this time, it’s much worse than anyone imagined. With the insidious help of politicians and The Fed, banks have secretly built up over $30 TRILLION worth of the same toxic assets that destroyed our economy in 2008. But this time, when the entire house of cards comes crashing down, neither the U.S. government or the Federal Reserve have the resources to bail out the banks and prop up the stock market. Thus, experts now warn: The global banking system is on the verge of collapse! If she is aware of the problem why doesn’t she make some adjustments, especially in the spending?
I didn’t hear anyone holler, “FIRE?”
If so, is it time for a fire sale?