Expert: Bank of America, Goldman Sachs, Citibank, JP Morgan will ALL fail to insolvency this year — NO FEDERAL BAILOUT
Investmentwatchblog.com
January 6th, 2015
International Finance Expert James H. Kunstler says in no uncertain terms that this year (2015):
“Goldman Sachs, Citicorp, Morgan Stanley, Bank of America, DeutscheBank, SocGen, all succumb to insolvency.American government and Federal Reserve officials don’t dare attempt to rescue them again.”
He goes on to forcefully state:
“Bank of America is the first of the Too Big To Fails to enter the event horizon of failure. Obama can’t get congress to go along with a bailout. By Thanksgiving, there is turmoil among the banks as they scramble to cover losses. A public furor over using taxpayer money to cover derivatives losses leads to an unprecedented concerted action by states to attempt “nullification” campaigns.
Citibank applies for a bail-in of account holders. Dithering, frightened federal authorities are too slow to respond, permittinga run on deposits.
Read the very extensive and terribly frightening list of things he says we’re headed-for . . . with no way to avoid!
The Rest…HERE
