Take the time to read these extracts. I count 4 major financial institutions calling for a disaster in the coming weeks. Morgan Stanley, Royal Bank of Scotland, Barclays and Fortis. The most recent is Fortis below which also claims General Motors and Citigroup are cooked. I'm a serious cynic and see ulterior motives in everyone's words and suspect they are talking their books or covering their arses somehow but sh!t - thats 4 seperate warnings. What the hell do you do, I don't know. I worry about puts being honoured if its really that bad. Good luck. hopefully its just hot air but somehow I doubt it. Play carefully.
"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"
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/16/bcnecb116.xml Morgan Stanley warns of 'catastrophic event' as ECB fights Federal Reserve
Last Updated: 1:29am BST 17/06/2008
The clash between the European Central Bank and the US Federal Reserve over monetary strategy is causing serious strains in the global financial system and could lead to a replay of Europe's exchange rate crisis in the 1990s, a team of bankers has warned.
"We see striking similarities between the transatlantic tensions that built up in the early 1990s and those that are accumulating again today. The outcome of the 1992 deadlock was a major currency crisis and a recession in Europe," said a report by Morgan Stanley's European experts.
RBS issues global stock and credit crash alert
Last Updated: 12:19am BST 19/06/2008 http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=A1YourView&xml=/money/2008/06/18/cnrbs118.xml
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.
A report by the bank's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.
Barclays warns of a financial storm as Federal Reserve's credibility crumbles Last Updated: 12:01am BST 28/06/2008
US central bank accused of unleashing an inflation shock that will rock financial markets, reports Ambrose Evans-Pritchard
Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero".
"We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."
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