Wednesday, August 12, 2009

We Broke The Bank!

The United States is functionally bankrupt.

"Our total national private net worth, according to the Federal Reserve Board, is about $51.5 trillion. That means our federal unfunded liabilities represent 2.3 times our collective net worth. That's pretty darn broke." - Mike Whalen Washington Times

The question is - Who is going to bail us out? are we not too big to fail?
Is another sub-prime crisis looming?
and even though their stock is rallying - Fannie Mae reported a $14.8 billion net loss last week and said it would need more Treasury funds. We have a rally being led by the weakest of financials... one can conclude that something is manipulating the market.

So do you think that a bank holiday is coming?

In happened in the U.S. before when President Roosevelt ordered banks to close in response to the market crash that led to the government's Great Depression. When the holiday ended, many banks never reopened, the currency was devalued and hard-working Americans were left in financial shambles. All thanks to the Federal Reserve.

Do you think it won't happen here?
The laws of economics cannot be broken.

Some are saying it's not a matter of IF but a matter of WHEN.

With over 70 bank failures in the US this year ... there is call for concern.
Will the U.S. Banksters shut their doors and ATMs to the public, just like in Russia and Argentina?

(H/T AJ Liberty)