-- Posted Friday, 16 July 2010 | | Source: GoldSeek.com
By R. D. Bradshaw
The Goldsmiths 149 discussed the credit card crisis facing banks and lenders in the vein of the problem being on the immediate horizon. But there is still another crisis waiting off stage which likewise will be developing in the coming days. Though it may come a little later than the credit card meltdown, it will have far more reaching effects. While it will cause the Rothschild Cabal bankers some trouble, gold owners will likely find that it helps their financial positions immensely.
The Debt Crisis with the Banks and other Financial Institutions
This next coming crisis was broached in the New York Times of July 11, 2010 in an article by Jack Ewing on “Crisis Awaits World’s Banks as Trillions Come Due.” This Ewing report focused on a coming debt crisis because of the trillions of dollars in short term borrowings that financial institutions around the world now have and must repay or roll over in the next two years.
This funding problem for banks and other financial companies comes as governments are also facing the need to raise huge sums of money so that existing debts can be repaid or rolled over. Ewing said that “banks hungry for refinancing will compete with governments.” Because of the shortage of financing, credit for businesses and consumers could become more costly and scarce, and hurt economic growth. Per the story, banks worldwide owe nearly $5 trillion with $2.6 trillion in Europe and $1.3 trillion in the US with it coming due thru 2012.
This crisis may, per Ewing, “add pressure on the weakest banks to merge, seek government help, or scale back their activities. Some might even fold.” Those unable to obtain financing may have to turn to central banks which will have to decide whether to fund them or not.
The Sovereign Debt Problem Revisited
While the banks may face a funding crisis, as they try to raise the desired $5 trillion, they will be competing for money with sovereign nations and sovereign debt needs as Ewing notes. These needs are even more awesome to address because they totaled an estimated $49.5 trillion on Dec 31, 2009, per a report on Nov 9, 2009 (from a story at www.alibaba.com with a report entitled Global sovereign debt to hit $49.5 trln-Moody's).
This article told the tale about how hard governments are finding it to raise money. Per this report, “Global sovereign debt is expected to hit $49.5 trillion year end, a 45 percent climb since 2007 as the credit crisis takes a toll, Moody's Investors Service said on Tuesday. The expected $15.3 trillion increase in worldwide government debt is more than 100 times the inflation-adjusted cost of the Marshall plan, Moody's said in a report.”
The backdrop for this big hike in debt was, per the story, “Sovereign debt ballooned during the global credit crisis as countries funded massive bailouts, shifting risk from corporate to government balance sheets.” The G7 nations were hit hardest as they accounted for 78% of the increase, per the report. Thus, sovereign debt went up, mainly in developed G7 countries, by 45% in 2008 and 2009 as various governments gave taxpayer funds to the big banks and financial institutions.
US debt is now in excess of $14 trillion, of which some $4 to $5 trillion went from the taxpayers to the big Rothschild Cabal banks as they were paying out hundreds of millions of dollars to their key insider personnel as bonuses. Talk about insanity—how could the US politicians have done this to the American people.
Amazingly, all the while they have been doling out trillions to the Rothschild Cabal bankers (for their bailouts, profits and wars of conquest), these same politicians are crying and whining about social security and unemployment payments going to down and out Americans. These crooks are in no mood for social security recipients and unemployed Americans to be getting anything. But they don’t have a problem at all for the Rothschild Cabal banks to get trillions of dollars. This should tell even the most dense of idiots who elects America’s political leaders. And it’s not we the people, contrary to what the Rothschild controlled media has been telling us.
What this Huge Debt Problem May Mean
Several points seem to emerge from these two reports. First, interest rates are going up and away at some point in time. Fed Chairman Bernanke can continue his lies and deception about low interest rates in the future. But the debt problem is not going to allow it. There will be a mad scramble for money. So, at some point in time, the market will demand higher returns than what the Rothschild Cabal banks and central banks have been allowing. Ewing is right. Interest rates are going up.
Second, governments across the world have their own financial problems and are not going to be in any mood to be directly bailing out the banks facing funding shortages (the taxpayers may fund the banks, but it will be done secretly and indirectly thru the Rothschild owned/controlled central banks, as will be discussed below in a third fact). This shortage of money will mean that many unconnected and non-Rothschild Cabal banks and other financial businesses will have to sink or swim on their own. Many will be folding in the coming days. It clearly seems that the banking industry will not be an attractive place for money in the coming days.
Third, the Rothschild owned and/or controlled central banks will provide secret funding and assistance to the big Cabal banks while many of the smaller ones will go broke or be absorbed by the big Cabal banks. When this money crisis eventually subsides, we will find a repeat of the great depression of the 1930s.
Back in 1929, almost every little town had a locally owned bank. By WWII, many of these little banks had folded and went under. In their place, in the post WWII days, branch banking businesses developed with big banks using branches to provide banking services to the public. These big banks, with super rich owners in far away New York or London, were larger than anything ever conceived of in American history. We will see a further consolidation and motion to bigness in the coming days in this decade we are now in.
Fourth, just as many banks and other financial institutions will be biting the dust in the coming days, the same thing will eventually be said for some governments which will simply be unable to sell bonds and debts to avoid default. While some observers have diagnosed this future for Greece, I submit that it will not be European states that go down the tubes. It will be the United States. At some point in time, China and other buyers of US debt will say no more.
Fifth, we can be sure that at some point in time, people with wealth, assets and some brains will begin to wake up and say no more fiat money and fiat debt that will never be redeemed. Logically, there has to be a coming flight from both fiat paper money and worthless paper debts. This coming real world must in time spell out a boom in gold, silver and precious metals. Frankly, the recovery of gold in 2009 and its new highs in 2010 seem to be spelling out the beginnings of a huge new bull market in precious metals. It may not hit us tomorrow, but it likely is on the horizon right now.
Sixth, and finally, these reports are spelling out some very bad days ahead for America and Americans. If there were ever seeds being directly sown by the US government, to cause a revolution and anarchy in the streets of America, the idiot politicians have done it with their shell-outs of huge blocks of money to the Cabal banks. Can you believe it—some 45% of the increase in debts of G7 countries came in 2008-2009 from bail outs and other payments to the big Rothschild Cabal banks. Gold owners only need to be patient a little longer. They will soon have their day.
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-- Posted Friday, 16 July 2010 | Digg This Article
| Source: GoldSeek.com
