Don't Panic! The Bank Nightmare II - The Fear Returns!!!!

[zappyhod]

Rather than make a "bad bank"..could you dump all the garbage stuff onto a small country??...Like Iceland for instance?.. and use them as a fall guy?...Is that possible to do?

[mikeybrumbrum]

Im not being funny, but if i say Muslims are trying to take an unfair advantage in politics, by starting the "respect" party (or being heavily involved, at least), i may be frowned at, or even considered a little racist.

However, if i say that Jews seem ot be totally running America, for the sole benefit of Israel, at the USA citizens expense, I start "TWITCHING" and so, probably, do YOU !

WHY can no one even say "Jew" without twitching ?

Why are we TERRIFIED of even the word JEW ?

JEEEEEW !

[louis12346]

Along with Obama foreign policy guru and notorious Russia-hater Zbigniew Brzezinski, Kissinger is a Rockefeller functionary and Trilateral Commission member. He is also a prominent Bilderberg member and long time member of the Council on Foreign Relations. He worked for the Rockefeller Brothers Fund as director of its Special Studies Project.

The CFR, Trilateral Commission, and the Bilderbergers have one objective — to create world government under the guise of a New World Order.

[keylimer314]

Mike, love the vids..can u take some advice from an old warhorse who shoots from the hip?..Don't move so much..ur a bright sharp guy ..less is more. I know it's pyhricc(?) advice as we advance boldly back to the stone age but I want smart guys to do themselves justice as we face The Bronze Age Redux

[FeverIAm]

Thanks for the comment ;) Yea, I know. A bit of OCD; I jump around when I'm a bit excited :) I do try to keep it to a minimum. My background was radio - no one ever saw me jumpin' about!

[gck82s]

100% SPOT ON ,THE BANKS HAVE NO REGULATION FSA IN THE UK AND SEC IN THE US LET ALL BANKS PENSIONS FUNDS HEDGE FUNDS DEAL DERIVATIVES (OTC) OVER THE COUNTER WITH NO REGS THESE CONTRACTS HAVE COURSED THE HOLE MESS AND AS THE

MARKETS GET WORSE IT WILL ACTIVATE CLAUSES HID IN THE CONTRACTS that WILL COLLAPSE THE HOLE SYSTEM THE DEBT IS UNQUANTIFIABLE THE BANKS CAN NOT ANSWER THE QUESTION HOW MUCH DO YOU OWE AS THE POSITIONS ARE GETTING WORSE ALL THE TIME UNTIL IT ALL COLLAPSES

[minteko]

If the banks have to declare what they have, and through the practiced fractional reserve operating policy, there would be hardly anything held in account.

[grannysvids]

peace man!!!!!

[grannysvids]

HELLO GOOD AFTERNOON, GOOD MORNING... ECT...

I was wondering if you think we may (in the U.K) will join the euro? will we be pushed into it... i hope not!

also you say that the u.s dollar will be equal to the pound (sterling). is it worth buying a few hundred or even thousands of dollars to sell back at the end of the year to make a small fortune?

[FeverIAm]

Hi man. Yes, that is the eventual goal. Look at what the Tories are doing. It won't happen right away; but the good people of Britain will be lead to the euro as the solution for the collapsing pound. Expect it before the year is out. Stay out of the US Dollar if you can help it, the flip in value relative to the yen will happen really fast. I would personally go for gold or silver.

Peace

[dontblamethemessenge]

Just print a lot of english pounds. And ship those to the ones you own the money.

Debts are gone.

[demonhunter5110]

bailout=hyper inflation= dollar value=0-depression period

[tellelephone]

There's no concrete information here that is any different from the chatter being fed into the news wire by syndicates that are US owned

[Jealy144]

PEACE

[Thunderwavia]

Argentina economic problem vids on youtube, and info on the net could give people a good idea of what economic chaos does to a society.

[darrenrooke]

and the 4th and the 5th and the 6th and the 7th and the 8th. the whole world is toxic!!!!!!!!!! its over we most will be drip feed it it obvous that its done done carnt wait always hated the system

[FeverIAm]

Funny comment on Robert Peston's blog today. So plan A failed, What happens after Plan B? Plan C? No - it'll be Plan I M and F :=)

[darrenrooke]

international misery found check video on Argentine's nightmare it all sub titles but it s the best insight as to where we are going its 13 vids long. it about stripping countries of there productivity then withdraw and that's what has happened to us look round your house nothing is made here we were busy buying flat screen TVs while are jobs were shipped abroad classic stripping of a country by the central banking system which is what are ancestors warned us of no one listened oh dear

[veslaw]

Nice to see what is going on in England, etc.Are most of the folks in the FeverIAm group of the believe that almost all retirement funds should be put into gold and silver, or take your chances with the dollar?

[leeseyrob]

Has to something real, the dollar is only being kept alive by china lending more money to themalong with printing the hell out of it.

If you follow some of the other economic advisers-Peter shiff(think thats right) the dollar is worthless already !

And remember dont buy paper, you want the real stuff, paper is onle the same as stocks and shares - worthless

[jiminiflix]

I think Obama is a decietful person- he is a class A smooth talker and first class liar. He has already changed his mind on Iraq, Taxes and alreaddy added 800 billion to the debt.

[leeseyrob]

Dont you think its now time for each for there own... Sod the rest of the world and save whats left of the UK.

Global action is never going to work as it seems to me none of them can agree on what they should be doing - which is extactly Nothing.

We still have MONEY UNIONS- that do not trade(gamble) all these 'special' products.

Put Your money in the Unions it has to be safer than the banks !!!

What you think?

[TheCZMan]

that people living frugally, carefully (I would prefer prudently, not sure about the word existence though) are going to be eaten alive by people who live their life according to the game rules. Putting your money into unions wont save it if the whole stuff(currency) is losing value.

As I already stated, banks are not exactly in troubles, western world banks are.

[FeverIAm]

The problem is too big for one country to solve. They tried that in the Great Depression with protectionist trade alliances (eg. GB had less restrictive tariffs on goods from Commonwealth countries). The result was a massive retreat from the then current globalisation.

However I think the leaders of US, EU, Russia and Asia WILL try similar protectionist tactics 'to protect' each union. The result will be an even further contraction in GNP of each area. Will they note history? doubtful.

Peace

[leeseyrob]

So all in all - we are all pretty screwed, i forgot the fact the currency would be worth a big fat zero.

So really we should all try and obtain as much money as possible on loans(if possible) and then convert that into real gold or silver(not paper) , sit back and wait....

Thats what i would do if i could get a loan ...

lol

[FeverIAm]

A rather good plan...

[valhala56]

Man you are the reincarnation of Carl Sagan. Somehow with you talking econ gloom and doom makes it all that more entertaining.

[FeverIAm]

I picked up a bug on the plane back - and no it ain't Bird Flu LOL. Feeling a bit worn out :( Peace

[valhala56]

US should seize Canada, take all worthwhile assets, The Canucks, Hosers, Lesbians, Alberta Oil Sands,Bacardi,trees then move all people who aren't supporting Obama to the Artic Tundra to drive Ice Road trucks.

[local44]

Cool, I won't support Obama, and now at least I will have a job driving an ice road truck. I had no idea it would be that easy to find work. I hear it pays well also. Thanks!

[local44]

valhala56, you misspelled "thespians".

[FeverIAm]

LOL - I never knew Canada was a nation of lesbians! I love the Ice Road Truckers; but why should we let all those ba5tards have all the fun? ;)

Peace Man

[valhala56]

The Canucks know how to have fun even when it is 30 below with snow to the kness, get a bottle Barcadi and some Lesbians.

Once the US has had enought of Obama, bad economic news they will be ready for some escapist entertainment that goes well with a bottle of Rum.

[turnoveraction]

Doesn't it come down to this: Even if the banks were 'solvent' is there now any business, individual or government that it would be 100% safe to lend to? The answer surely is 'No'. Who would you lend money to?

I think it is time to stock up on tins of baked beans: they are already cooked and can be eaten cold.

[Bassmarko]

Dude!!! your'e the best! love following you and think that because we are somewhat blind to real news here in the states that your perspective is important and telling of things to come for U.S. economy. And Obama is just a man. I dont see what he can do at this point.

[turnoveraction]

The almost hysterical fawning over Obama (especially by the BBC here in the UK) I fear will turn to tears and anger within a year. Can't put my finger on it, but there is something about the man that makes me profoundly uneasy. I felt the same about Blair.

[FeverIAm]

He is too slick; like a well dressed salesman - you just know he's gonna screw you over, but for some reason you feel compelled to sign up to whatever he is selling. Peace

[TheCZMan]

He is a black man at the head of a society construed around racism and people think that he could turn things around?

I really wonder how people can live on the illusion that a black person can exert power in a western society. Even if he had some solutions, the number of people who want to see him fail is so high that it is enough to warrant he would fail.

[FeverIAm]

Dude, thanks for the positive comment. Obama, like Roosevelt, will be handed a set of keys to a failing economy. It won't be fixed in any quick way (if ever), and the plan seems to be working exactly as forecast. Study the Great Depression and the mistakes leading up to it. The EXACT same things are happening today. It is insanity to assume that doing the same things will result in a different outcome. Prepare :)

[TheCZMan]

Well, actually, many banks around the world are solvent and could easily take up the lead. Western banks are in a mess. But as a result of history (domination through wars), there are the only banks that are global.

A stalemate is expected here: to go global, a chinese bank would have to buy a western bank, with all the debts. Impossible.

People calling for letting the banks fail are dismissing this very important face of the current issue.

[TheCZMan]

Run to the hills!

"White man came across the sea

He brought us pain and misery

He killed our tribes, he killed our creed

He took our game for his own need"

As the situation worsens, expect a lot of Western people to pack up and start the whole stuff once again. This move will be hyped up as highly benefitial for poor countries by many economists.

[taznruby]

PittsTown- The dozens of employees at Xero-Fax, a company that obtains state permits for trucking companies nationwide, are in limbo.

Their office on route 7 in Pittstown is closed, many had their last paychecks returned for lack of funds, thier health insurance was canceled and they don't know where to turn.

This will continue with intensity.

[crene767]

The Obama fascination will be a short one once Americans realize nothing will change. The government will continue with business as usual throwing the taxpayers money away.

[myliverwurst]

I agree, once the glitz has worn off and people realize that it's nothing but the same old same old and the recovery doesn't come I look for a lot of anger and unrest, especially with the levels of unemployment that are being bantered about...and I mean real unemployment, not that crap that the govt. spews.

[rocksiphone]

Went to the Mall today and when I looked around it way really empty and what was weird I guess, I felt really sad about it.

Starting to see more and more commercial real estate "Space Available" signs. I would think the commercial real estate collapse will be worse than the residential.

The say we will become a Third World Country and I see some from other countries happy about that; but what most don't know, the World soon may wish they were still a third world country.

[FeverIAm]

But where are the singers - "went to the mall today"... Bruce is too busy sucking up to Obama. The new 'voices' of america will rise, and lead the sheeple to the truth. Hopefully before it is too late.

Peace

[taznruby]

We are working on it.

What: March for liberty 2009

Where: DC

When: July 4th, 2009

[centervilletn]

many americans have realized that they owe more...much more on their homes than they are worth..many people, who are not in financial difficulties are simply walking way from their homes, knowing they will be able to buy later on for much less....the average home in the U.S. (if purchased in the last 5 years) have lost 20 or more percent of its purchased value...

[centervilletn]

people in the u.s. are hardly in a fever over obama...folks are not all that excited except to have george benidict arnold bush out of the white house...dont believe the news regarding the excitement

[mrcool011]

Obama is Bush x10...how is this going to help anything? More spending, more tax cuts(which I in theory but like it with less spending)more tax rebates, more imperialistic foreign policy, more government and more attacks on our Constitution and civil liberty. Oh and more bail outs and keeping the corrupt in Wall Street in power! Socialism does not work but I like it better then Bush/Obama Corporate Socialism.

[arcanekrusader]

The commercial real estate market is going to collapse in the usa. Round II :S

[FeverIAm]

No, that'll be round III; round II hasn't quite finished in the US. I give it a few weeks for phase II!

Peace

[myliverwurst]

oh yeah...i forgot about the commercial real estate market! That's in the process of tanking too.

I think of it this way. If growth in economic activity came out of govt. inspired credit creation via artificially low interest rates then look for that area of economic activity to suffer as a consequence of market restructuring. I.e. excess credit brought about excess houses, cars, consumer goods, malls etc. so all those things will collapse.

Best thing is to stay calm and prepare yourselves.

[myliverwurst]

according to the site the panorama video is NOT available outside the UK, which is unfortunate for your non-UK viewers.

[FeverIAm]

I realise that now - it really sux. I have tried a few different screen cap programs; but alas, no luck. There WAS a torrent, but it seems there are no seeders. I'll see if I can grab it somehow for non UK viewers.

Peace

[myliverwurst]

Alt-A and ARM type mortgages are only getting started. The payment resets on these two mortgage types begin in '09 and continue through through '11. The current guess is that 70% of these will default. The total current Alt-A and ARM $ amount is about $1.6 trillion. By comparison the sub-prime was about $1 trillion.

The key is to recognize that there is little we can actually do about it except to prepare and be aware of what's going on. Also to recognize that govt. can't stop it.

[gck82s]

1.The Banks are bust and have been for some years. Global shipping is coming to a stand still. The capital injection is a con the money is not real just balance sheet ghosts it will not lead to inflation but per shadows TOTAL financial collapse the bail outs will not work, Gordon Brown has not got a clue how the markets works the Banks can not come clean on toxic debts as they do not know how much they have got of the stuff they are all shit scared as it runs in to trillions

[gck82s]

2.Market mechanics have used Collateralized mortgage obligations CMO's and Collateralized Bond Obligation (CBO's) repackaged and sold OTC with no controls by Governments or SEC or FSA with activation clauses nobody knows but individual Banks, moving the market is like walking blindfold in a mine field but bad debt could be as much as 100 or 1000 what we think know, buy gold now + food meds weapons fuel tools water storage wile you can Don't Panic be for warned act now

[FeverIAm]

Exactly - Don't Panic

Don't accept the fear they are trying to force on you. Learn to accept and look beyond the fear in your heart,

Act now.

Peace man :)

[gck82s]

I have no fear about the global economic depression if anything i'm quite happy as I have been predicting it for 10+ years and one does like to be right? Doesnt one! I also have prepared for a period of calamity verging on anarchy whilst I hope this doesnt happen its always best to be prepared, the english are an a anarchic bunch at best and whilst TV portrays a PC society there are a lot of nasty under currents if you look closely the universe tends to lean towards chaos. Be lucky.

[Frequencitee]

I am amazed that our neighbors to the North haven't given up on the U.S. citizens entirely.

Thank you Mike. As always, solid information with a bit of intrigue.

Please join me in a celebration of media blackout, consumer style. On February 17th, I am going to invite my neighbors over for a beer/barbecue/dance and destroy, while I send my television to that great Hollywood studio in the sky.

Be creative but film it and upload it.

Peace Mike.

[FeverIAm]

That is awesome! Have fun at the party; but hey, play safe :) In i'm in North America I might be looking for a real invite ;-)

Peace

[p717]

It's strange. I'm working for two clients and being strained to the limit because of the workload. Here I was thinking I'd be out of work by this time. But I'm always looking to the dark time of the first quarter reports. Small companies with little overhead just might pull through this mess, but if credit extensions went to absolute zero, time itself would stop. Holding on with anticipation in the US. We all could use a little luck, and give a little hospitality.

[FeverIAm]

It really depends on your luck; and the markets you work in. My work is in software, and the s/w can specifically be targeted at cost reduction. Not a nice way to work; but we are also run off out feet!

My company just handed out a $1000 CASH bonus to everyone (taxes will be paid at the end of the month by the company). There are pockets of success in the economy. Remember, even with 30% unemployment, 70% are still working.

Peace

[vintagethought]

question - how is unemployement calculated? does it include govt jobs too? so if 50% of the population works for govt and we have a 30% unemployment rate, only 20% works in the private sector?

[FeverIAm]

That is a good point. Over the last 8 years, there has been an increase in public sector hiring, and a decrease in private sector; it has actually shrunk over the new labour years.

And yes, that is how it is figured; only it would be more like public sector - 40%, Private - 10%, unemployed - 30%. Uh, where's the other 20%? They don't count after a year, and are counted as unemployable or as no longer seeking work...

Peace

[vintagethought]

so basically if we take the unemployment rate for the private sector it is actually around 80%...? that is if we are not counting any public sector

[FeverIAm]

Using your example numbers. The actual rates are still lower right now. "non-employed" is around 20% - 25% right now in the UK. I'd need to look up the split for public/private.

[wrinkles1931]

I don't hink there is an "Obama fever" outside of the media hype. Most of the people I know who voted for Obama have come to relize we are screwed with the economy...and if the ship is even afloat in 4 years, he will have done well....

[clk211bu]

We the taxpayers pay for the banks incompetence because we have accepted and allowed ourselves to be the slaves. We are all ultimately responsible for everything that exists within this reality. Is it possible that it is time to stand, admit we fucked up, and start again from the perspective of the fact that we are all as one as equal. It starts with total self honesty.

[hugolp]

The solution: Let them fail, and let well managed banks take their place.

I dont understand why the taxpayer should pay for the banks incompetence.

[myliverwurst]

And therein lies the essence of the approach being taken. In a true free market economy there wouldn't be this bailout mentality, companies that need to fail would fail.

This resistence to allowing companies and banks to fail is what will worsen the recession and/or depression. If we continue to fight the markets desire to correct we'll be in the brink for a long time. I we allowed it to fail we would have a period of pain and suffering, but then it would be over and we go back to work.

[gck82s]

There are two reasons that they will continue to bailout everything in sight. The first is lack of control society is stressed if law and order broke down the police and army put together could not keep control this would lead in a short time to total anarchy in the uk the second is vested interest this would lead to rich and powerful people being decimated and rich and powerful people can bully the government with the first point. OH MY GOD IT WILL BE ANARCHY.

[timelesstruths]

As always We the people wont know untill its to late.

thanks and take care

[PeakedEarth]

well that really cheared me up. doom.

[FGTBOGSAT]

Perhaps the biblical Jubilee cycle would be a remedy for this mess. I like the Jubilee concept of not passing debt from one generation to another generation.

[FeverIAm]

Not a bad idea all in all!

[markynj]

I think the news media in US is just trying to bring the mood of the American people up. it's been pretty down here for almost a year now.

[msamour]

Hey Mike, I liked your comment about being both Canadian, and British. "It's fine we both report to the queen." I agree that most Anglo-Canadians do feel some kind of attachment towards Britain, but not everyone in Canada does. There are 7 million French-Canadians do not agree with that statement, but are still proud Canadians. As far as I am concerned, I do report to the queen because of my work, so I feel quite indifferent about it. I'd just like to point out some might feel differently.thanks

[FeverIAm]

You are of course correct. I do hope I don't offend anyone in Quebec, Nova Scotia, etc. That was not my point! Unfortunately, it is however the whole truth, even if they don't like it!

Peace dude

[msamour]

Hey Mike, Thanks for understanding. I was indeed pointing out the differences in culture in Canada, and I am sure you didn't offend anyone in Quebec. I happened to know that you have viewers in Montreal. Most Quebecers are quite indifferent towards the monarchy, they feel far removed from it. You are right, technically we still have to answer to the queen, not that i'm a big fan of that. Good that you are home, I hope you had a chance to rest. Cheers!

[ImaScotsman]

The government is giving up its preferential stake in the banks it nationalised late last year. This means its forgoing the right to get its share of the profits before ordinary shareholders and thus making the bailouts even more reckless.

People in britain shouldnt ever vote labour again, OR the torys as they wont change the system.

People should run independant or look up people like the Money Reform Party and such like.

[EarmarkAudiology]

bad debt bank?...don't you need depositors? Is it going to be the fed?

[silentonall]

I agree. What's on their balance sheets? But even scarier, according to the International Bank of Settlements, what are the derivatives on their off-balance sheets?

[leeseyrob]

probably more than you can even think of - lets try combined 14000 trillion dollars for all the banks in the world that trade....

Any good?

[radicaldanzero]

Super bama. ever wonder why its pronounced O'bama and not  like Alabama? lol peace

[Stealth0031]

I've wondered that myself. ...But then again, I wouldn't want to make Alabama look bad. :)

[radicaldanzero]

Make alabama look bad...LOL thats a good one thanks.

[TheEdens]

looks like you're back home.

gladly safe and sound

[izzyizod]

If I am to hear "Doom and gloom", I would rather hear it from you: at least there is wit served with the depressing slop.

[FeverIAm]

Thanks for the comment!

[minesapint123]

Prepare indeed. Id advise everyone to invest in something which is going to keep its value and hide it away just incase.

[vdveindhoven]

banking nightmare 2 the fear returns

i hate those movies, bad actors, very baddd

[AntiShocker]

Incredible insight. Thanks.

[StandUp555]

Some freinds in the UK tried to buy gold bullion from various UK banks .. they said they never sell it !

In Germany, almost any local bank can get it.

Last order took ca. 4 weeks .. a few months ago.

Have you tried to buy gold bullion in the UK ?

If so.. where can you get it ?

TIA

[FeverIAm]

Tell them to check out goldassetsDOTcoDOTuk they are dealers in London. If it's a lot, I'd suggest picking it up themselves (although they do use bonded delivery)

I have never dealt with them, but they look OK. I will not discuss details of my investments here.

Peace

[Puzzoozoo]

I got mine from Chards in Blackpool. But you might have to wait for large orders of 1oz and bigger gold weights, as naturally its becoming more difficult to get gold, I had to wait 7 weeks for my final order. But Chard still has supplies of sovereigns in stock.

[Stealth0031]

Wow! These banking issues would make a great adventure movie --- Except for the fact that we are in the middle of it! Too bad for us. I'm going to go panic now, while there is still time. On second thought, I think I'll go walk the dogs and think about what else can be done to prepare. :)

Thanks for being out there.

William

[cevod123]

Mike I just tried to watch Panorama vid and it says no longer available. Let me know if its just me or did they pull it off line.

[FeverIAm]

Could be because you're in the US (We have to pay a 'license fee' in the UK; which gives us access to BBC content. The rights in the US for Panaroma is owned by PBS) - I'll try and rip it or find a US friendly version... I forgot about that!

Peace

[cevod123]

The higher the pedestal the farther the fall. Like they say the fall doesnt kill you it's the sudden stop. His ratings are going to fall like a stone as soon as people realize he is not going to save the world.