The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Real Man who wrote (16469)	1/20/2009 6:58:25 PM
From: RockyBalboa	of 71456

Yes, after all, people says so: ukhousebubble.blogspot.com Monday, 19 January 2009 Today was a big day Today was an historic moment. The RBS and its barely comprehensible loss signaled the end of an era. The days when finance was the engine of the UK economy are definitively over. The UK banking sector has become the 21st century equivalent of coal mining; over-staffed, over-paid, and profoundly unproductive. When the RBS announced that loss, it shot a fatal arrow straight into the heart of the UK banking sector. This loss is equivalent to 2 percent of GDP. Think about that; one bank in just one year lost 2 percent of national income. Moreover, the bank's balance sheet is almost as large as the UK GDP. This is a bloated and obese behemoth. It can not survive in its present distorted condition. Everyone knows it and that is why the share price collapsed. What is true of the RBS is also true of all UK banks. They are too big; they employ too many people and their funding model is unsustainable. No amount of government intervention can negate that reality. ...

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