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Fire11
03-28-2011, 08:54 AM
It is a US bank with $2.55 Trillion of assets. Only BNP Paribas and Royal Bank of Scotland are larger. It's way too big to fail.

When it goes bust, it will be bailed out. And Ben Bernanke, chairman of the US Federal Reserve, will have no choice but to fire up the printing presses all over again.

Today, I want to tell you how to protect your wealth against the inflationary impact of the dollar flood that will result.

http://www.moneyweek.com/news-and-charts/economics/us/us-federal-reserve-bank-is-bust-13001

LibertyRevolution
03-28-2011, 10:38 AM
They didn't name the bank anywhere in the article...
why even bother to post this rambling garbage.

From the article:

"But the world's third-largest bank doesn't follow the same accounting rules as every other bank. It refuses to restate the value of its assets. That's why they're surely worth less than the reported figure. In fact, if I'm right, the bank has no capital left. It has zero value. It's bust.

I can't prove this. But here's why I think I'm right."

He cant prove it, he cant mention the name in fear of getting sued because he has no proof, so why was this article published??

Inkblots
03-28-2011, 11:06 AM
^
Skimmed the article, did you? They do name the bank: it's the Federal Reserve.


Have you guessed which bank I'm talking about? It's the US Federal Reserve Bank itself.
The Fed is bust – and that's not just my opinion

I'm serious. It may be the US central bank, but it's still a bank like all the rest.

Most of its assets are US government bonds, bought as part of its quantitative easing (QE) programmes.

Its liabilities include about $1 trillion of notes and coins in circulation. There are also $1.4 trillion of deposits owing to US commercial banks, which are required to hold reserves at the Fed. There are also some deposits owed to the US Treasury. And there's $53 billion in capital.

So the Fed can go bust just like any other bank. And I'm not the only one saying it. William Ford, a former president of the Atlanta Federal Reserve, one of the 12 member banks of the Fed itself, broke ranks to warn about it on 11 January.

Ford points out that the Fed can hide insolvency because it does not mark its assets to market. So we'll only know that it's bust when it sells some bonds. Only then would it have to take the losses from selling them for less than it paid.

emazur
03-28-2011, 02:00 PM
http://www.youtube.com/watch?v=RC03BSDg6t8