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Crumbling banks strengthen the PM fortress

derrybderryb Posts: 36,793 ✭✭✭✭✭
in Precious Metals
good moves in metals as the curtain gets pulled on the bad banks. Look for some desperate response.

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I thought the unemployment data moved metalsimage
    Avid collector of GSA's.
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Not a good day to be a TBTF banker

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    image Hope they fry those rich pompous A*s Hoo's!
    Avid collector of GSA's.
  • pennyholicpennyholic Posts: 153 ✭✭✭
    About time!!!!!
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

    Or maybe just a little show for the people before the obligatory "wrist slap"?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    We've only just begun..............
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    pay no attention to that man behind the curtain

    The Wonderful Wizard of Oz – A Monetary Reform Parable

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    These banks had it coming. I hope they get sued big for making all those toxic loans.
  • derrybderryb Posts: 36,793 ✭✭✭✭✭


    << <i>Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

    Or maybe just a little show for the people before the obligatory "wrist slap"?

    roadrunner >>


    Something a bit worriesome about TBTF banks getting sued by a federal agency. I look for this to somehow end up to be in the banks best interests. Maybe a small once and for all penalty to make it go away?

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • SpoolySpooly Posts: 2,108 ✭✭✭
    Didn't the FED buy a bunch of toxic loans?

    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭
    Why take out a loan when you can print your own money.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>Didn't the FED buy a bunch of toxic loans? >>



    Yes they did, over $1 TRILL worth. But never fear, those will be dumped into the Fannie and Freddie cesspool that thanks to Tim Geithner, now is uncapped as far as how much
    junk which can be shoveled into them. The cesspool window closes in 2012. But until then figure that anything basically worthless held by the big banks, FED, etc. will eventually
    be transferred to F&F (ie the people's debt). I'm sure foreign entities are taking advantage of this as well. All these "assets" will of course be marked to model and never sold
    for the "profit" they are assumed to have.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • JoflaxJoflax Posts: 979 ✭
    My thoughts exactly !!

    This amounts to Fannie and Freddy suing the banks for derivatives that turned bad after the property market crashed. When Fannie and Freddy should have been responsible for doing due diligence on the derivatives that they were buying.

    I am thinking that it is near time to start buying banks.
    Buy the dips!!!
  • johnny9434johnny9434 Posts: 28,307 ✭✭✭✭✭


    << <i>Why take out a loan when you can print your own money. >>



    the governments got plenty they can give ya image
  • CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭
    At least the big banks' CEOs' children will not lack for bread:

    linky
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Maybe I'm naive, but somebody please tell me how a person deserves a $33.8 million severance package. Gee, where does that kind of money come from?image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭


    << <i>Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

    Or maybe just a little show for the people before the obligatory "wrist slap"?

    roadrunner >>




    Yup, dogs and ponies.


    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TomBTomB Posts: 21,200 ✭✭✭✭✭
    This is insane. I can imagine that if somehow these TBTF banks are found liable for billions in lost investments that the US governement (meaning the powerless public ) will step in to infuse these TBTF entities with enough cash and credit to keep the system moving along as before. Of course, all of this will be funded through future obligations heaped upon the powerless public.
    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • pf70collectorpf70collector Posts: 6,641 ✭✭✭
    Even if the banks pay $30 Billion. What is that? Probably just the cummilative effect of all the bonuses they pay themselves each year. They will just not get their bonuses for one year. Goldman alone gave themselves over $10 Billion in bonuses a few years ago.
    Montana State Quarter Die Clash

    Box of 20
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    All those TBTF banks will cry and cry and they'll appeal the verdicts

    and the gov't, in these economic conditions, will give them years to pay. If they can even prove their case in the first place.


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

    Or maybe just a little show for the people before the obligatory "wrist slap"?

    roadrunner >>



    My first thought because the two entities are one in the same.
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