Christian Message Boards: Some interesting financial outlooks

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Posted by Robert_NC (Member # 189) on :

Financial Armaggedon Is Unfolding in South America! (And it's by design)
August 11, 2002

Financial Armaggedon Is Unfolding in South America

by Gretchen Small
The decision was made on July 23-24 by the U.S. Federal Reserve, reliable European sources report, that any and all measures would be taken to keep the U.S. stock markets from melting down before the November 2002 mid-term elections. At stake was far more than the Republican Party's election prospects, or U.S. stocks. With J.P. Morgan-Chase executives forced to call a teleconference July 24 to dispel swelling rumors that they were facing insolvency, urgent action was required. The rumors of insolvency also included Citigroup, second only to J.P. Morgan-Chase as the top holder of derivatives in the United States. Were even one big U.S. bank to go under, it would trigger "financial Armaggedon" for the already terminal global system.

http://www.bankindex.com/read.asp?ID=1120