Fortis Bank predicts US Financial market meltdown within weeks

Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”

Fortis Bank predicts US Financial market meltdown within weeks…
Fortis is a large bank and insurer in the Netherlands and Belgium. It took over ABN Amro last year, together with RBS and another bank. Last Thursday, its share lost 17% because Fortis attracted foreign capital.

I was shocked when I read the following, which was brought out 4hours ago:

American ‘meltdown’ reason for money injection Fortis.
28th of June, 9:10
BRUSSELS/AMSTERDAM – Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”

This fits in the picture, with the other press releases last week, like the short advise of Goldman Sachs and some other of the same messages last week.

Although gold has rallied a lot lost week: first thing monday morning: short Dow, long Gold?

Or will there be a rate cut, which undermines (delays) everything?

Original press release:

VOTRON BLIJFT AAN NA GOLF VAN KRITIEK
Amerikaanse ’meltdown’ reden geldinjectie Fortis
28 Jun 08, 09:10
door onze correspondent
BRUSSEL/AMSTERDAM (DFT) – Fortis rekent binnen enkele dagen tot weken op het volledig instorten van de Amerikaanse financiële markten. Dat verklaart volgens de bankverzekeraar de serie ingrepen van donderdag om zich met €8 miljard te versterken. „We zijn op het nippertje gereed. Het gaat in de Verenigde Staten veel slechter dan gedacht”, zegt Fortis-chairman Maurice Lippens, die volhoudt dat topman Votron aanblijft. Fortis verwacht faillissementen onder 6000 Amerikaanse banken die nu weinig dekking hebben. „Maar ook Citigroup, General Motors, er begint een complete meltdown in de VS.”

http://www.dft.nl/bedrijven/fortis/4…ie_Fortis.html

9 thoughts on “Fortis Bank predicts US Financial market meltdown within weeks

  1. You can sure bet none of the wonderful republicans will suffer anything! Most of them have their money in Europe or in offshore accounts!

  2. America has been sweeping the dirt under the rug for years and years. Eventually the rug no longer touches the floor, and everybody then notices. Death by fire (inflation) or ice (deflation), only the Fed knows. We the people just get to watch as the crooks have left the country nor did they ever care. Woe to our children.

  3. I’m not shocked. This plan has been in place for years. The short term goal is to destroy the US and then rush in with the solution which is a NAU and the Amero, possibly digits only.

  4. Actually, the Fortis Bank is the one most likely to go bankrupt soon. Just a little Googling and you will find the stories. People who live in toilet paper houses should not throw shit.

    Michael

  5. Currently, Oil prices are the final straw. Such a sharp increase should be very suspect.

    As if pure greed had this planned all along, Housing prices were inflated way beyond what people could actually pay ( ponzie).

    And then we began being told that cheap oil should be a thing of the past, and then magically the price of oil begins to skyrocket.

    And these speculars who know that the world is currently addicted to oil, so they proceed to raise the price with the very aim of bringing down the economy as they know that the bulk of use is for commerce, travel to and from work and cannot be curbed further.

    Congress refuses to act as they make enough money to fair well as the rest of us begin to starve and go homeless…….No new oil and gas plants, no new wind and solar without brainless studies, no nuke plants.

    But there is a solution.

    mrbrucewayne63@yahoo.com

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