Diluted to Oblivion, Dead Banks

[katty]

more: http://www.kitco.com/ind/willie/feb132009.html
Diluted to Oblivion, Dead Banks

By Jim Willie CB
Feb 13 2009 4:31PM

www.GoldenJackass.com

A hard time came when deciding upon a title today. “Dead Banks Walking” or “Insolvent & Motionless Yet Standing” or “Much Ado About No Credit” or “The Bank Vampires” or “The Primary Dark Syndicates” made sense. But what came to mind when a comment made by the Jackass in June 2008 on the Vancouver stage at a Cambridge House Metals & Mining Conference. My words to close a panel discussion on the banks were “Just wait, in several months you will see the entire US banking system go insolvent, its stock prices dwindle to nothing, as it will be diluted into oblivion!” It happened. The response by the USGovt, the USFed, Wall Street banks, and the USCongress will result in very little remedy since their first objective is to keep in place the cover-up to their gigantic fraud, much of which still eludes the financial press. By the time conditions worsen, rescues will not be the primary objective any longer. Rather, prevention of collapse will become the urgent priority. Desperate official actions will result in turning the corner on inflation, from the so-called deflation toward hyper-inflation. The gold & silver price will find release. Already, their prices are disconnected from the USDollar. Gold & silver serve as panic meters, systemic breakdown meters, monetary meters, and official desperation meters. The USEconomy has entered an acceleration phase in its breakdown. Gold & silver are poised to make new highs and not look back. They have responded to growing monetary disasters. Incredibly powerful events are in the works, to be unleashed within the next several months. What an exciting yet tragic time! The Hat Trick Letter analyzes the events, both public and hidden, in detail.

The USCongressional display of big bankers this week was a pathetic spectacle. They admitted fault. They should have genuflected and thanked the USGovt and legal authorities for not being directed to prison quarters with orange jumpsuits. The spectacle was reminiscent of the ‘Godfather’ movies when the Corleone family had the spotlight shined on them for involvement in organized crime. Even the London bankers had their more pathetic public apology session. Their failure was marred by ineptitude and purchase of fraudulent Wall Street bonds, more than criminal activity. See the video clip for a truly pathetic glimpse (CLICK HERE). The tragic reality is that both New York City and London are in the process of morphing into financial rust belts (not my original line).

[Kolesar]

1. Cannot we just "close" those banks and start new ones?

Or let smaller or "midsized" banks take their place??