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Wells Fargo & Company Message Board

  • investorzzo investorzzo Jan 1, 2010 6:50 PM Flag

    What the Banks, Wall street, Gov. wont tell you

    “We see $12.7 trillion donated (without their consent) by the lender-taxpayers to the top world economies, or about 20% of world GDP. These funds, a good part of which will never be retrieved, have been stuffed into the pockets of bankers, Wall Street, insurance companies and GM and AIG. 80% of the problems we have had to face were caused by these very same entities, which along with the Fed, propose to solve the problem they created. It is as if they are the only ones in the world who know best what is good for our system and for us. They as well continue to play in the giant casino as if nothing ever happened. While this transpires there are still trillions of dollars in bad debt and impaired assets on the books that have to be written off…

    At first the G-20 nations wanted to remove monetary stimulus and now they say it is too early to do so. What they do not tell you is if they remove trillions from their economies they would collapse. Europe, the UK and US have losses of $1.7 trillion they haven’t written off of yet. In addition, they have hundreds of billions in losses for foreclosed loans that are still flowing in, to further befoul their balance sheets. We have to laugh when central bankers talk about draining trillions from the system. If they pull liquidity the system collapses. Other than feeding money and credit into the system the bankers have no solution. Keeping them in charge is like giving a pyromaniac matches.” (emphasis added)
    http://www.financialsense.com/fsu/editorials/deepcaster/2009/1230.html

 
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