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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: habitrail who wrote (3862)	8/5/2002 9:20:05 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

Trez ONeill announces $1.5 billion LOAN to Uruguay banks this sets up the failure of the Uruguay Banking system last week they closed all banks this allows the politicians and very wealthy to remove their money first, before the unwashed masses have a chance that is how it happened in Argentina next door in Feb2002 so ONeill fell into their trap, and donated $1.5B I mean loaned them as with Argentina, I expect full bank defaults soon the money will not last very long, weeks perhaps Uruguay's economy is dominated by tourism, nothing else they sit between Argentina and Brazil along the Atlantic coast soon comes the Brazil bank default this autumn their Brazil Real currency has devalued 60% this year alone a bank failure may only await IMF funding toward Argentina the Real devaluation was in full anticipation of defaults they have $280-300 Billion on loan to major western banks that is twice as much as Argentina I EXPECT THE ENTIRE SOUTH AMERICAN CONTINENT TO EXPERIENCE COMPLETE BANK FAILURE WITHIN 12-18 MONTHS this will stress JPMorgan, Citibank, Deutschebank, and a few other large European banks even further prepare for a worldwide banking crisis the earthquake tremors are loud and clear and largely ignored some numbnuts on Wall Street think this is "BUY THE BAD NEWS" how about "GET READY FOR DERIVATIVE EVENT FAILURES" ??? and this doesnt even address Asia's banks / jim