1800 banks set to fail.
By Contrarian
Published: October 3, 2009
Bankrate.com estimates 1800 banks to go bust unless the labour problems improve. Banks to with rating of 1 and 2 are almost sure to fail. The failure of banks with 1 and 2 rating can lead to bank run on the remaining healthy banks.
The data was prepared pre september numbers. The current unemployement rate of 9.8% will worsen the situation.
Source: Bankrate
Analysis InvestoNetwork
Fresbee
Tagged with: Global Investo, US
As an extension to the post, am receiving a lot of inquiries on this and understandably so. Folks, this is not some conspiracy nor some hidden agenda. We are a fund and hence we always have to take the best interests of our clients and hence there cannot be any lies to what we put here.
Bankrate is an independent rating agency (Yes independent in a day where FED owns and runs the manipulation machine) has estimated that 1800 banks are set to fail with trillions in cost. Peter schiff has been on record saying that the cost of the FDIC failure will be trillions. We are facing a mammoth failure in the US. There is no deception nor any restriction of speech here. FED cannot stop the truth from coming out. US government has virtually gagged out the media from talking about this problem so that it does not become bigger than it already is.
My personal analysis shows that 1800 is relatively conservative number. We will hit 4000 failures with 3/4 Americans wiped out thus making US among the poorest countries. Bold isnt it….well when it happens remember it was at Investing contrarian that you hear it first.
Fresbee