It is a US bank with $2.55 trillion of assets. Only BNP Paribas and Royal Bank of Scotland are larger. It's way too big to fail. When it goes bust, it will be bailed out. And Ben Bernanke, chairman of the US Federal Reserve, will have no choice but to fire up the printing presses all over again. Today, I want to tell you how to protect your wealth against the inflationary impact of the dollar flood that will result. Complete article: http://www.moneyweek.com/news-and-charts/economics/us/us-federal-reserve-bank-is-bust-13001
Didn't see the name of the bank anywhere in the article. The US banks don't even come close to third according to these statistics. http://www.bankersalmanac.com/addcon/infobank/bank-rankings.aspx
Biggest mistake is allowing the broke banks to survive in their current form. The pain would be enormous, but needs to be a result of stupidty. Pay the price and no government bailouts for these banks or financial companies. People want to reduce executive pay, let them know without any responsibility they will pay a price. I can't figure out why these clowns keep getting hired. They made money for a couple years and make outsized fortunes, and when they destroy a company and walk away they get a parachute while the rest get a kick in the ass. It brings me closer every year to dividing up my taxes and determining which programs I am willing to support and not pay for the portion I am not willing to support. I just read an article about the clown who runs Manitowoc Company in Wisconsin, and he got a multi million doolar compensation package because he didn't lose as much as the year before. Really! Lost money and deserves any compensation???!!! C'mon if you deserve an outsized compensation for making moeny then you really should be penalized for not making money, and severely. Hard to believe I'm a conservative, but I in no way agree with Rush and the like in the theory of "what the market pays" for these ass clowns pay. I get a bunch of my buddies or at least equals on my Board of Direvtors and we give each other a wink and nod for compensation in no way makes in moral, ethical, or right in any way.
It's the endgame everyone sees coming and is sick of talking about so we just wait in silence until the levy finally breaks. The smart ones had their inflation protection already lined up two years ago.
Smart money, has already prepared. As has the Smart Middle class and those of us who work for ourselves. All this negative news is nothing new and it will continue. If you were to do a stats analyses of all the negative news, it would show huge buying signs. Just have to wait, be patient, protect what wealth you have and when the wreck comes...be ready to buy all kinds of assets for pennies on the dollar. Folks, this is going to take some time. It took 10 years or more for this bubble to burst. We are only 3 years into the crash. The First Great depression did not catch on til the second year, a year after the Market rallied back to near highs after the crash. In modern times, we have more "forces" (THE FED & the GOV) to push off the final move down. There is far more manipulation in Data, the Markets, media than in the 1920s. We are in a Depression, period. But it is just the first stage. The forces that be will hit QE 3, 4, 5, printing button and the Global markets will have some great Volatility. There will be plenty of ways, as there is now, to make money. However, the average "JOE" will not be in a position to do such and will suffer. Thus, causing a civil war much like what we are seeing in the Middle East. Once again, this will take a decade and Debt Leverage unwinds and more chaos and higher Food/Energy prices continue. There may be some hope that the tide will change and that the US will do what it needs to prevent the fall. However, based on current political activity, current activity with the Fed and what is left of the Investment Banks....it's business as usual. No change.
Speak? It is too late! The "USS Economy" is going to sink under a mountain of debt. Parabolic debt accumulation is not sustainable and we are now beyond the point of no return. Unfunded liabilities Social Security and Medicare are now starting to crash down on federal budget. Treasury now has to borrow to pay back the SSA IOUs....debt avalanche ahead. Washington approach to public is as follows..... Code: <iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/yv-Fk1PwVeU" frameborder="0" allowfullscreen></iframe>