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Banking: Is The World Going To Hell In A Handbasket?

July 22nd, 2008 · 2 Comments · Current Events

Last week (June 20th) the Royal Bank of Scotland (RBS), one of the world’s most respected and powerhouse banks took the extraordinary action to send a notice to all its clients to ‘brace yourself’ for a cataclysmic meltdown of the world’s financial systems, sometime ‘within the next three months!’

Do we trust them?

Well, consider that RBS predicted the credit crunch crash of last August when no one had a clue what was coming.  YIKES! Maybe it’s time to pick up your umbrellas and move off the beach. The sunny side of investing is about to get REALLY cloudy.

With the recent fall of IndyMac Bank, I would not be surprised at anything at this point.


2 Comments so far ↓

  • [edited by site moderator due to improper name format]

    Well things were definitely bad for awhile, but come on, hell in a handbasket? I think banks were just being overly cautious, really. Things are stabilizing somewhat now.

    • David C Lewis, RFC

      Check the date on the post. I think that the economy pretty much fell apart as I suspected back then. As for now, I don’t think we are stabilizing at all. It just looks that way due to the FED’s inflationary policy. That’ll end with interest rates rising or prices rising in whatever sector the money went to.

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