synergy777
09-09-2007, 07:03 PM
http://www.thetruthseeker.co.uk/article.asp?ID=7147
Rumours of Impending Crash
Anonymous – September 9, 2007
This message was sent me by a friend who is also a friend of Marjorie, so this is not a rumor. I have known Marjorie for 10 or 15 years and she is a very credible, knowledgeable oil trader. You might want to be prepared as we go through these chaotic days before the changes to the new banking system occur. Love, blessings & peace, Suzy...
Marjorie, my long time friend and oil trader on Wall St. with a seat on the Exchange (she knows her stuff), went to a power lunch today with key subprime lenders from Morgan Stanley, Shearson, you name it. What she came away with was bleak.
They said this is the "setup" time for an eventual collapse. The problems of 2 weeks ago was generated by only a tiny % of defaults but THEIR NEW MODELS PROJECT SEVENTY PERCENT of all subprime loans will eventually foreclose in the next 12 or so months. 70%
The hardest hit states are expected to be in the South, and MI and CA.
October is the next month for major adjustments in subprimes, and you should expect trouble. If they go up, teetering foreclosures will skyrocket into failure. The Fed's promise to do what is needed won't work because they won't bail out what is needed.
They said what America has to come to realize is that "Wall St." as we know it is over, a new system must result, and if steps are not taken, a severe crash is UNAVOIDABLE that FORCES a new system. The old system CANNOT be carried much longer.
Here is what else I am hearing as well. The problem is CATASTROPHIC in their words, but things will glide for a few weeks until October and later with the new adjustments.
The public WILL NOT HEAR MUCH IN THE NEWS, JUST LIKE THE 20's WHEN ALL WAS FINE IN THE NEWSPAPERS THE DAY BEFORE THE CRASH AND YET COLLAPSED THE NEXT DAY. PEOPLE MUST NOT BE ALLOWED TO STAGE A RUN ON THE BANKS. Don't look to news for verification. Common sense.
Store food, water and cash and get into metals, and see NESARA.
What does it say when Bill Gates, the wealthiest man, now owns 30% of all silver in the world and billions in Euro's and in public said the dollar is going down (MSNBC)? He is not alone, most of the wealthiest have similarly prepared in different ways offshore.
Fortunately the new Treasury Bank system has been ready for years but blocked, but I guess we have to endure the worse before the best before the thousands of thugs in government and multinational companies are ousted. You have time now to protect yourself as best possible in the next few weeks. It will happen, but during the changeover banks and ATM's will not work temporarily!!! Be prepared now!!
http://www.thetruthseeker.co.uk/article.asp?ID=7150
Banks face 10-day debt timebomb
Iain Dey – Sunday Telegraph September 9, 2007
Britain's biggest banks could be forced to cough up as much as £70bn over the next 10 days, as the credit crisis that has seized the global financial system sparks a fresh wave of chaos.
Almost 20 per cent of the short-term money market loans issued by European banks are due to mature between September 11 and September 19. Senior bankers fear that they will have to refinance almost all of these debts with funds from their own coffers, putting a further strain on bank balance sheets.
Tens of billions of pounds of these commercial paper loans have already built up in the financial system, because fear-ridden investors no longer want to buy them. Roughly £23bn of these loans expire on September 17 alone.
Fears of this impending call on bank credit lines are the true reason that lending between banks has ground to a halt, according to senior money market sources.
Banks have been stockpiling cash in preparation for this "double rollover" week, which sees quarterly loans expire alongside shorter term debts - exacerbating a problem that lies at the heart of the credit crisis.
"Banks are hoarding cash," said David Brickman, the head of European credit strategy at Lehman Brothers. "We think the reason for that is the commercial paper markets. There was $100bn of commercial paper issued by European institutions that was scheduled to roll over in August, much of which struggled to do so.
"Those markets are just not functioning normally, so some debt has already come on to bank balance sheets and more will have to follow. We estimate that between September 11 and 19 $139bn [£68.5bn] of European commercial paper [will come] up for renewal, including monthly and quarterly maturities. That's why banks are hoarding cash."
Mervyn King, the governor of the Bank of England, last week made his first intervention in the money markets since the credit crisis began, pledging to inject £4.4bn into the overnight lending system if required.
DeAnne Julius, a former member of the Bank's Monetary Policy Committee, told The Sunday Telegraph: "The Bank has a responsibility to allow the smooth functioning of the sterling money markets and it has a pretty clear framework for doing that. But it needs to apply that framework to achieve the objectives it is aiming at. The experience of the last couple of weeks does not look as if it [the Bank] has been very successful at that."
Although the markets have viewed King as reluctant to bail out irresponsible lenders, the BoE has not ruled out further interventions. But senior bankers say King is unsure that pledging funds over a three-month duration would solve the liquidity crisis. He is said to share the view that the root of the liquidity problem lies in the commercial paper markets.
Market sources believe confidence will be restored only when all the sub-prime losses in the system have been exposed.
Christopher Wood, the strategist at Hong Kong-based brokerage CLSA Asia-Pacific Markets credited with predicting the US sub-prime crisis two years ago, said: "The sub-prime crisis has exposed the structured credit asset class as highly dubious. In five years' time it won't exist."
www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/09/cndebt109.xml
Rumours of Impending Crash
Anonymous – September 9, 2007
This message was sent me by a friend who is also a friend of Marjorie, so this is not a rumor. I have known Marjorie for 10 or 15 years and she is a very credible, knowledgeable oil trader. You might want to be prepared as we go through these chaotic days before the changes to the new banking system occur. Love, blessings & peace, Suzy...
Marjorie, my long time friend and oil trader on Wall St. with a seat on the Exchange (she knows her stuff), went to a power lunch today with key subprime lenders from Morgan Stanley, Shearson, you name it. What she came away with was bleak.
They said this is the "setup" time for an eventual collapse. The problems of 2 weeks ago was generated by only a tiny % of defaults but THEIR NEW MODELS PROJECT SEVENTY PERCENT of all subprime loans will eventually foreclose in the next 12 or so months. 70%
The hardest hit states are expected to be in the South, and MI and CA.
October is the next month for major adjustments in subprimes, and you should expect trouble. If they go up, teetering foreclosures will skyrocket into failure. The Fed's promise to do what is needed won't work because they won't bail out what is needed.
They said what America has to come to realize is that "Wall St." as we know it is over, a new system must result, and if steps are not taken, a severe crash is UNAVOIDABLE that FORCES a new system. The old system CANNOT be carried much longer.
Here is what else I am hearing as well. The problem is CATASTROPHIC in their words, but things will glide for a few weeks until October and later with the new adjustments.
The public WILL NOT HEAR MUCH IN THE NEWS, JUST LIKE THE 20's WHEN ALL WAS FINE IN THE NEWSPAPERS THE DAY BEFORE THE CRASH AND YET COLLAPSED THE NEXT DAY. PEOPLE MUST NOT BE ALLOWED TO STAGE A RUN ON THE BANKS. Don't look to news for verification. Common sense.
Store food, water and cash and get into metals, and see NESARA.
What does it say when Bill Gates, the wealthiest man, now owns 30% of all silver in the world and billions in Euro's and in public said the dollar is going down (MSNBC)? He is not alone, most of the wealthiest have similarly prepared in different ways offshore.
Fortunately the new Treasury Bank system has been ready for years but blocked, but I guess we have to endure the worse before the best before the thousands of thugs in government and multinational companies are ousted. You have time now to protect yourself as best possible in the next few weeks. It will happen, but during the changeover banks and ATM's will not work temporarily!!! Be prepared now!!
http://www.thetruthseeker.co.uk/article.asp?ID=7150
Banks face 10-day debt timebomb
Iain Dey – Sunday Telegraph September 9, 2007
Britain's biggest banks could be forced to cough up as much as £70bn over the next 10 days, as the credit crisis that has seized the global financial system sparks a fresh wave of chaos.
Almost 20 per cent of the short-term money market loans issued by European banks are due to mature between September 11 and September 19. Senior bankers fear that they will have to refinance almost all of these debts with funds from their own coffers, putting a further strain on bank balance sheets.
Tens of billions of pounds of these commercial paper loans have already built up in the financial system, because fear-ridden investors no longer want to buy them. Roughly £23bn of these loans expire on September 17 alone.
Fears of this impending call on bank credit lines are the true reason that lending between banks has ground to a halt, according to senior money market sources.
Banks have been stockpiling cash in preparation for this "double rollover" week, which sees quarterly loans expire alongside shorter term debts - exacerbating a problem that lies at the heart of the credit crisis.
"Banks are hoarding cash," said David Brickman, the head of European credit strategy at Lehman Brothers. "We think the reason for that is the commercial paper markets. There was $100bn of commercial paper issued by European institutions that was scheduled to roll over in August, much of which struggled to do so.
"Those markets are just not functioning normally, so some debt has already come on to bank balance sheets and more will have to follow. We estimate that between September 11 and 19 $139bn [£68.5bn] of European commercial paper [will come] up for renewal, including monthly and quarterly maturities. That's why banks are hoarding cash."
Mervyn King, the governor of the Bank of England, last week made his first intervention in the money markets since the credit crisis began, pledging to inject £4.4bn into the overnight lending system if required.
DeAnne Julius, a former member of the Bank's Monetary Policy Committee, told The Sunday Telegraph: "The Bank has a responsibility to allow the smooth functioning of the sterling money markets and it has a pretty clear framework for doing that. But it needs to apply that framework to achieve the objectives it is aiming at. The experience of the last couple of weeks does not look as if it [the Bank] has been very successful at that."
Although the markets have viewed King as reluctant to bail out irresponsible lenders, the BoE has not ruled out further interventions. But senior bankers say King is unsure that pledging funds over a three-month duration would solve the liquidity crisis. He is said to share the view that the root of the liquidity problem lies in the commercial paper markets.
Market sources believe confidence will be restored only when all the sub-prime losses in the system have been exposed.
Christopher Wood, the strategist at Hong Kong-based brokerage CLSA Asia-Pacific Markets credited with predicting the US sub-prime crisis two years ago, said: "The sub-prime crisis has exposed the structured credit asset class as highly dubious. In five years' time it won't exist."
www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/09/cndebt109.xml