Do not trust your bank in the time of this financial meltdown – FDIC protection means little when many large banks fail at the same time
Sam Adelton
Aug. 6, 2007

If Federal Government restores to the last available measure of printing currencies, exploding budget deficit and massive bailouts for commercial and investment banks, gold will rise above $2000 an ounce and the dollar index will crash below 60.

The large banks are in deep trouble. They will go belly up because of bad loans and irresponsible money management. We do not know which bank will really go belly up. But no one should trust his or her bank any more. FDIC insurance means nothing at this stage.

There will be several runs of these banks between now and 2015. The mega bubbles will take decades to unwind.

Time has come to look at the banks in their eyes and look for actual financial viabilities of these financial institutions.

The meltdown and banking collapse has started with the investment banks that tried to make it big with subprime loans and hedge funds. Soon the fire will spread to financial services sector. The big Tsunami in financial meltdown will come at a later stage when the mortgage default will spread to regular mortgage areas and the commercial banks start going bankrupt.

Do not trust your bank in the time of this financial meltdown – FDIC protection means little when many large banks fail at the same time
Sam Adelton
We do not know which bank will really go belly up. But no one should trust his or her bank any more. FDIC insurance means nothing at this stage.
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