It aint over till its over - Banking Crisis

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It aint over till its over - Banking Crisis

Postby rodgreenwell » Fri Nov 27, 2009 8:33 am

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Re: It aint over till its over - Banking Crisis

Postby holy vehm » Fri Nov 27, 2009 9:24 am

yeah i saw this last night. i noticed it said that "Analysts expect financial support from Abu Dhabi". abu dhabi usually bail dubai out but this time they are keeping the lid closed on the money pot. there is no bail out for them.
is dubai set for a fall from grace?

hv
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Re: It aint over till its over - Banking Crisis

Postby rodgreenwell » Fri Nov 27, 2009 9:50 am

I think almost certainly... Dubai, once the crown jewell in the middle east is fast becoming a problem and if the do not recieve bail-out funds from AD, then just watch the fall-out... Markets worldwide lost 3% in one days trading....

Problem is that there are several "global" financial issues about to surface, the banking crisis is just one of them, the global currency market is another... but the derivatives market is IMHO, set for a huge crash. No-one wants to put a real number on it, as the are scared to quantify it, and really have NO idea... best guess estimates place the number around USD$75 TRILLION. Derivatives though is pure speculation and mathematical fantasy ..... NOBODY undertsands it, they simply see the virtual paper with huge numbers and say .. "It must be good, we''ll take a block".... just like the sub-prime mess and because this market imbalance is still not "reset", when it finally blows, the system will collapse and the sacrificial lamb is already designated by the PTB (Powers That Be) is the USD Dollar .... Interestingly, how many market economies are linked to the USD? (also, wath the value of gold and silver rise....)

This will NOT be pretty , some predict 4-6 months others suggest with the next 12 months... Interestingly the USD has lost ground to all major currencies and the Chinese certainly want another currency as the "global market" currency and it wont be then yen, euro or sterling!

Just listen to the so called experts who still dont know if this will be a "double dip" recession and what about the threat of "hyper inflation"
Great Depression times may be upon the western world....

Now I sound like the prophet of doom!!!!!!
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Re: It aint over till its over - Banking Crisis

Postby holy vehm » Fri Nov 27, 2009 10:06 am

the derivities markets are indeed set for a crash but no-one seems to see it coming, esp those actually doing the speculating, not unless they are backing it each way, in which case they will make no matter what.
I heard in oct to keep an eye open for another banking type crash in december (early)
last year i came across an interview that was explaining that the footsie needs to drop to just above 4000 points and until it does the market cannot correct itself.
Why i dont no, but maybe thats the true value of the companies registered and any rise is due to speculation.
Its been on the news here that there are oil tankers parked in the english channel waiting for the price of oil to go up before they unload.

I remember the resseccion in the late 80s and id just left school and that reccession seems alot worse than this one. to be honest i think there is more to this than meets the eye, maybe its all the money that gordon brown has put in creating an artificial picture. Things dont look to bad but in reality we (most of the worlds people) are in real deep shit.

hv
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Re: It aint over till its over - Banking Crisis

Postby addy5 » Fri Nov 27, 2009 11:12 am

The funiest thing about this whole Dubai story is the time its taken to actually arrive on the news!

Its difficult to date precisely but it was sometime around January/February this year that it all went pete tong!

Trusty western news agencies have only taken 9 months to let us know - what would we do without them?
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