It is an unwritten axiom that if you are successful in your business, you will always be guaranteed to have the product that you make or the supply of the product that you distribute. If you are a cobbler, you and your children will have shoes in any cycle of the economy. If you are a banker, you will always have money in your personal account. Or should we ask John Corzine about bankers and securities traders to see if this axiom is true in an economic collapse?
We are entering a period where this axiom will not be valid for a period of time. As the stock markets have risen this week on hopeful retail sales, we can look under the covers to see what is coming. If the banks have no money, then no one will have money.
The following graphs showing a one year change ending today (November 29th, 2011) give a good picture about what is about to befall not just the United States but the entire world:
Bank of America
Goldman Sachs Group Inc
Citigroup Inc
UBS AG
J.P. Morgan Chase and Company
If the institutions overseeing the distribution of money are collapsing, any sentient person will understand the consequences of this trend. The message is clear: when the Euro fails, our financial institutions will also fail within a few days. If the banks declare a bank holiday now, the impact will be felt immediately and the Grinch will be the only one who will have a Merry Christmas.
David DeGerolamo
It’s official…that whistling you hear IS the sound of incoming bombs. These ‘bank-bombs’ will soon impact every aspect of our society. Brace for detonation…
David has a wood stove