Tuesday, July 1, 2008

Fortis Bank Predicts DOOM!


Fortis Bank Predicts U.S. Financial Market Meltdown Within Weeks
De Telegraaf June 30, 2008
BRUSSELS/AMSTERDAM - Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”
This fits in the picture, with the other press releases last week, like the short advise of Goldman Sachs and some other of the same messages last week.
Although gold has rallied a lot lost week: first thing monday morning: short Dow, long Gold? {We now know there was intervention on the part of the Plunge Protection Team to avert a Monday Meltdown ~Ed.SOC}
Or will there be a rate cut, which undermines (delays) everything?

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