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Possible bank failures on the way

Discussion in 'Politics & Religion' started by Bernard, Feb 8, 2008.

  1. bogart

    bogart Notable Member

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    #41
    The British government had said Northern Rock must pay back more than 25 billion pounds ($49 billion) in government loans within three years.

    I don't know how that is going to happen with the subprime mess getting worse.
    SEMrush
     
    bogart, Feb 17, 2008 IP
    SEMrush
  2. wisdomtool

    wisdomtool Moderator Staff

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    #42
    If they can do that, do you think they need to be nationalized in the first place :)

     
    wisdomtool, Feb 17, 2008 IP
  3. mizmoon

    mizmoon Guest

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    #43
    I think there is a world wide depression being orchestrated by those in power that are part of the 'new world order'...those that are all for a one world government. When this happens, and it will, the signs are there to be seen...it's going to make the depression of the 1930's look like an age of prosperity! :I
     
    mizmoon, Feb 17, 2008 IP
  4. smatts9

    smatts9 Active Member

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    #44
    It's probably being orchestrated by extraterrestrial life for their new comedic, reality TV hit. :confused::cool:
     
    smatts9, Feb 17, 2008 IP
  5. wisdomtool

    wisdomtool Moderator Staff

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    #45
    I beg to differ, those like India and China had too much at stake even in slowing their economic growth, not to say a depression, any slow growth in China means tens of millions of migrant workers which will give their leaders a big headache.

    In the "new world order" I foresee polarization of powers, USA no longer being the sole superpower but many other superpowers in the likes of India, Russia, China etc.

     
    wisdomtool, Feb 17, 2008 IP
  6. Hon Daddy Dad

    Hon Daddy Dad Peon

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    #46
    I'd avoid the Euro and the British Pound. Those currencies and economies are not in much better shape than the US. Buy some Silver and Gold along with the other currencies.
     
    Hon Daddy Dad, Feb 18, 2008 IP
  7. bogart

    bogart Notable Member

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    #47
    The Euro zone has less foreign debt and consumption than the US. However, higher US interest rates may soften both Gold and the Euro.
     
    bogart, Feb 18, 2008 IP
  8. wisdomtool

    wisdomtool Moderator Staff

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    #48
    I heard that Swiss Francs keep their worth, anyone wants to comment on that?

     
    wisdomtool, Feb 18, 2008 IP
  9. bogart

    bogart Notable Member

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    #49
    USB has a lot of subprime losses
     
    bogart, Feb 18, 2008 IP
  10. wisdomtool

    wisdomtool Moderator Staff

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    #50
    Well I guess I better open a Gold account, at least it is stable and less cumbersome than buying real gold coins or bars.....

     
    wisdomtool, Feb 18, 2008 IP
  11. maverick123

    maverick123 Peon

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    #51
    in good old days, people use to keep their cash in the form of Gold.......twin benefits of appreciation in value and hedge against inflation :D....banks will however eventually get Gov.support....
     
    maverick123, Feb 18, 2008 IP
  12. wisdomtool

    wisdomtool Moderator Staff

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    #52
    IMHO Govt Support = Tax Payers' Money

    Just using the general population money to pay for the misdeeds or lousy investments of a very small group of people.....

     
    wisdomtool, Feb 18, 2008 IP
  13. bogart

    bogart Notable Member

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    #53
    I have a feeling that the dollar is going to make a comeback as the Fed will be forced to raise interest rates.

    The Yuan has a lot of the upside but it isn't a convertible currency. The China is like a man running full speed with an anchor tied to his back. China has $1.53 trillion in foreign currency. It makes more sense to shift the labor to improving infrastructure or agriculture than exporting sneakers to the US for more dollars.
     
    bogart, Feb 18, 2008 IP
  14. wisdomtool

    wisdomtool Moderator Staff

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    #54
    The Yuan has no choice but to rise, but as you said, it is not a convertible currency which is a pity.

    I am not that optimistic about the dollar though, don't forget it is election year and I doubt any unpopular actions would be taken by Fed especially the likes of raising interest rates.

     
    wisdomtool, Feb 18, 2008 IP
  15. bogart

    bogart Notable Member

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    #55
    For an American the real oportunity to get into the Euro or Gold was when the Euro was less than $1.10

    Gold at $900 doesn't have much on the upside unless the Fed loses complete control and allows a collapse of the dollar.
     
    bogart, Feb 18, 2008 IP
  16. wisdomtool

    wisdomtool Moderator Staff

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    #56
    For me I am lucky, at least Australian dollars are pretty strong still. Still thinking of whether to go for Gold, it has risen tremendously already and I am afraid of its downside. Though between USD and Gold, I take Gold anytime of the day.

     
    wisdomtool, Feb 18, 2008 IP
  17. bogart

    bogart Notable Member

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    #57
    Gold Bullion is costing close to a $1000 per oz. I think the Fed will raise rates after the election. The chances of a recession are high and that could also take a big bite out of metals.
     
    bogart, Feb 18, 2008 IP
  18. smatts9

    smatts9 Active Member

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    #58
    I suddenly remembered about this post.

    I win.
     
    smatts9, Nov 5, 2008 IP
    bogart likes this.
  19. bogart

    bogart Notable Member

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    #59
    Do you beleive that the Democrats will inflate thier way out of the housing crisis?
     
    bogart, Nov 5, 2008 IP
  20. smatts9

    smatts9 Active Member

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    #60
    This isn't just a housing crisis but more of a worldwide debt bubble. One thing the US dollar has going for it is that a lot of the debt is denominated in dollars and people are scraping for them to pay off debts. This is a big reason why it is on the rise.

    If they print, as in create money with no offsetting liability, it will destroy a lot banks. I see this as a last resort, but you never know. Right now they are just "recycling" to a degree and speeding up the velocity of money, but it is having no effect because banks just aren't lending.

    Right now I see it as a last resort, but I have to wait and see how this administration acts you can never trust what they say.
     
    smatts9, Nov 5, 2008 IP