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 Replies: 16 / Views: 2,226 |
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Pillar of the Community
United States
3077 Posts |
why aint this on the six o'clock news?
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Pillar of the Community
United States
3670 Posts |
This could be the first big sign of the collapse of the entire European economy eh.... Can you blame them, as if I had one red cent in European banks, I would have long since pulled it out.... I don't know that I can compare that situation to the gold/Chavez story which definitely stirs  a few opinions in these parts, but yet another fine example of a fend for ones self situation perhaps.... Edited by Silverhawk74
09/21/2011 9:41 pm
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Pillar of the Community
United States
3670 Posts |
"why aint this on the six o'clock news?"
Because they only feed you what they want one to absorb....
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Pillar of the Community
Australia
2830 Posts |
"Lloyd's, which holds about a third of its 2.5 billion pounds ($3.9 billion) of central assets in cash, has stopped depositing money with some banks in Europe's peripheral economies, Savage said, declining to name the countries or institutions." http://www.businessweek.com/news/20...-crisis.html |
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Valued Member
United States
302 Posts |
The beginning of the end is near. Germany is financing this debacle, and Merkel is powerless to do anything about it. The handwriting is now on the wall for Merkel to step down or get thrown out. Germany needs someone who can "solve" this problem, and Merkel can't do it.
Look for someone to replace her, take the bull by the horns, slice & dice Europe, and get this problem solved. It is time for the strong economies to band together and DICTATE exactly what the weak economies can or cannot do. In other words, "Yes, Master" from the weak ones. Nothing less will salvage the European experiment. According the the Lisbon treaty, it only takes 9 countries (out of the 27 in the EU) to force this to happen.
Once the problems in the EU appear to be solved, all eyes will focus on the American disaster. When that happens, watch out, the SWHTF big time and make the current problems in Europe seem insignificant by comparison.
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Rest in Peace
 United States
9104 Posts |
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Can you blame them, as if I had one red cent in European banks, I would have long since pulled it out.... I'm sure there are investors who feel the same way, yet have everything tied up in dollar denominated investments, which if anything are in even worse shaper. I can't believe PM prices didn't jump on this news. Instead, they're WAY down. |
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Pillar of the Community
United States
931 Posts |
I'm amazed that there hasn't been more press concerning US banks. The good news is that the FDIC raised the coverage limits to $250,000 on your deposits in one financial institution. The bad news is that the last I heard the FDIC only had 19 billion dollars in its coffers. That would probably cover all of the private bank deposits in Sheboygan Michigan. If the banks all started to fail due to exposure in the Euro Zone, the only way to cover deposits would be through more printing of fiat currency. At that point we would be reliving the Weimar Republic experience. It's kind of weird that our banks have been silent through the latest crashes heard overseas. Could it be that some of them have exposre to Greece and Italy? I would say more than likely. That is one of the reasons that I would like to quietly make a Lloyd's move with my meager savings. Last one out is a rotten egg.
Edited by junior e
09/22/2011 07:42 am
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Rest in Peace
United States
9104 Posts |
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The good news is that the FDIC raised the coverage limits to $250,000 on your deposits in one financial institution Mr Winkle- Coverage has been unlimited for a year or two now. |
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Pillar of the Community
United States
3294 Posts |
Um, no it hasn't. It went from $100,000 to $250,000 a couple years back, but it is certainly not unlimited...
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Pillar of the Community
United States
931 Posts |
How did you know that my name is Winkle? Are you a hacker too? I think that you're right about the limit being raised to unlimited as part of the Dodd Frank Act.
Edited by junior e
09/22/2011 11:16 am
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Pillar of the Community
United States
3670 Posts |
Anyone think this move by Lloyd was a foresight of the market falls today, as every commodity could sure use a parachute about right now....
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Pillar of the Community
United States
931 Posts |
If Lloyd's is pulling its cash out of the banks where is it putting its excess reserves? I would imagine that their timing is about right for some PM investment. That would make a nice trigger headline.
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Pillar of the Community
United States
3294 Posts |
It is pulling out of European banks it says. Perhaps it is placing the reserves into British banks or the Far East.
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Valued Member
United States
397 Posts |
Silver is tied to industrial demand, gold is to a point as well.
I'm surprised with all the economic news we've had that we weren't down even more. Either way, it might be a good time to buy a little bit more, although I know I wish I sold more than I did @ $43/oz. Thankfully I only buy coins when I can get 'a deal' so my median cost per ounce is still in the $16/oz area.
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Rest in Peace
United States
9104 Posts |
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Um, no it hasn't. It went from $100,000 to $250,000 a couple years back, but it is certainly not unlimited... Then the sign at the bank is wrong? |
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First Page
Posted 09/21/2011 9:40 pm
