this is powerful news on a few extremely important fronts
my source is a very reliable fellow with many many years of experience in key relationships
without full confidence by me, I would not share pass along any of it
this guy has connections with USMilitary, CIA, and knows personally a ranking banker at Wells Fargo
here are some main points:
1) Wells Fargo is bankrupt but will shed a raft of bad assets to the USFederal Reserve
Citigroup will soon announce a major splitup of subsidiaries, unsure whether Citi name will remain
Bank of America and especially WF will pick up the choicest pieces of Citi business segments
2) both Goldman Sachs and JPMorgan will undergo a death experience before end of 1Q2010
their credit assets and derivative games will erupt in a series of explosions
their leverage will backfire finally
their entire assets will be carved up at the morgue
3) the USFed will serve as the "Bad Bank" since no official USGovt sponsorship will be approved
the USFed will take another full bounty of toxic assets in order to avert a collapse of the US banks
the USFed balance sheet will zoom past $3 trillion
4) the USDollar will vanish sometime next year 2010, but will NOT be replaced by the Amero
the Amero was in particular described as "nothing but smoke & mirrors"
it is unclear what the US$ will be replaced by, since paper currency cannot replace paper currency
if the US$ is not replaced, then it will undergo a massive devaluation
my opinion is that devaluation will NOT revive the USEconomy, which has too small an industrial base
the higher cost structure would kill the USEconomy without much benefit from expanded exports
5) the CIA midlevel fellow claims before end of 1Q2010, everything tied to the US will break
he referred specifically to the overseas military adventures, the bank system, and the economy
he called it all unsustainable and in the process of breaking now
he said "it will all blow up early next year, and the key players are all preparing"
6) the Wells Fargo executive banker personally bought 250k oz silver bullion a few years ago
when asked, he admitted that he has vastly increased his silver holdings
when asked of the future silver price prospects, he said something like "it will rise beyond your imagination"
the part that sounds inconsistent is that JPMorgan will suffer a death,
but the USFed will continue to accept toxic assets from major US banks
that could mean JPM will morph into the Bad Bank
the other part that is inconsistent is that the USFed itself seems destined to sink into oblivion
its insolvency will become apparent soon, not at risk of bankruptcy, since it has assured cash flow
comments are welcome
/ jim
