Friday, January 16, 2009

Bank Crisis II beginning NOW

I subscribe to the Martin Weiss, Money and Markets newsletter and receive free daily emails full of great information you won't get from the mainstream. Give it a shot - the daily reports are free!

Anyway, I wanted to share the email (below) that I received in my inbox today - reinforcing what many of us already know and/or feel, but that which we fail to hear from the many talking heads in the media.


BREAKING NEWS:

Bank of America posts massive $1.79 billion loss in last three months of 2008 ... slashes dividends ... accepts $138 billion emergency lifeline ...

Citigroup reports total losses of $18.7 billion in 2008 — $8.29 billion in the fourth quarter ALONE ...

New phase of bank crisis beginning ... soaring unemployment, plunging stocks, canceled dividends, and sinking investment income ahead ...

FREE VIDEO BRIEFING — “7 Startling Forecasts for 2009” — to help you survive ... and to help keep money flowing to you no matter how much worse this great financial famine becomes — CLICK THIS LINK to watch it now!

Dear Subscriber,

Just when everyone thought we’d seen the worst of the carnage in the U.S. banking system ...

Despite the $350 billion in TARP funds Washington already spent to save the big banks ...

Despite Treasury Secretary Paulson’s emphatic assurance to CNBC’s Maria Bartiromo that the banks are no longer in danger just a few days ago ...

And regardless of the $138 billion ADDITIONAL lifeline he’s just been forced to throw Bank of America yesterday ...

A new, more virulent strain of the bank panic contagion is now hitting Wall Street!

Just this morning, Bank of America posted its first loss in 17 years — a whopping $1.7 billion in October, November and December — and cut the dividend it pays to stockholders.

Plus, Citigroup, which had already received $45 billion in government handouts, posted its fifth straight multi-billion dollar quarterly loss — $8.3 billion in the last three months of 2008, bringing its total losses for the year to a staggering $18.7 billion!

No wonder Obama’s advisers have freely admitted that they see an increasingly grave banking crisis beginning to unfold! No wonder they have scrambled to gain control over the second $350 billion in bailout funds! And no wonder ...

The Great Financial Famine of 2009 Is Spreading Like Wildfire!

After the prior phase of this great banking crisis struck last fall, U.S. job losses surged, bringing the total number of paychecks lost by U.S. families to 2.6 million for 2008.

The stock market had a nervous breakdown — with stocks plunging as much as 1,000 points in a single trading session and the Dow crashing by nearly a third in less than 30 days.

Reeling from the carnage, many companies delayed, postponed or even cancelled dividend payments to investors — and the Fed slashed interest rates, cutting yields on other income investments.

But now, it’s looking like last year’s disaster was little more than a dress rehearsal for the new phase of the banking crisis that’s beginning now!

This new phase of the banking crisis is compelling new evidence of the great “financial famine” we warned you about in yesterday’s “7 Startling Forecasts for 2009” emergency briefing: At least a full year in which every source of income and profits you count on is in extreme danger.

That’s why we’ve urged you to consider a new strategy to get yourself and your family through this disaster: A practical way for you to keep money flowing to you no matter how intense this crisis gets — and no matter how long it lasts.

And it’s why we’ve decided to leave the recording of “7 Startling Forecasts for 2009” online for a short time: It is absolutely essential viewing for you if you’re concerned about your income and investments in the year ahead.

Just turn up your computer speakers, and click this link to watch this crucial video while it’s still online.

Best wishes,

Martin


My Closing Comment:

The first 30 minutes of the video at the link above is full of great information about our current economic delimma and what you can anticipate to see in 2009 - the remainder is a discussion on Currency trading and Martin's Team Guided approach to it.

2 Comments:

At 1/16/2009 9:44 PM, Anonymous jerry said...

What we are seeing are dying financial banking institutions not willing to admit that they are really dead. They were junkies needing working America's debt induced cash flows to satisfy their habits; but now, they need Treasury cash to maintain their addictions for huge amounts of cash to keep from dying out. Nearly 30% of our economy involves these junkies, which are depleting our national cash pharmacy.

 
At 1/17/2009 10:46 AM, Blogger Tealeaf said...

There is good info. there, but the Guided approach is questionable. Ok short term but not at all mid term, meaning over one year. US$ will be toast in the long run. It's just that the cookie has to crumble where it was made.

 

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