Breaking News: Imminent Big Bank Failure on Overnight Bank Loan Failure
*Figured I'd throw this out there, it seems to be spreading pretty fast, take it for what it's worth, meditate and see if you can become a fly in the wall at the Bilderberg meetings running today through the 17th (note-read several reports that Geithner will be in attendance)...
Breaking News: Imminent Big Bank Failure on Overnight Bank Loan Failure Stock-Markets / Credit Crisis 2009 May 13, 2009 - 10:19 AM By: Nadeem_Walayat
Jim Willie of the Hat trick Newsletter has just sent an urgent message of a potential imminent big bank failure that would be expected to hit the financial markets hard - message as follows -
just got word from a reliable source with an excellent track record he calls me every several weeks when he has something very critical to share he wants me to put the word out and to see what comes back to confirm or add to the story an extremely large overnight bank transaction loan failed last night, gathering major attention it started in US west coast, went to Hong Kong, then Singapore, then London it failed in London, by that is meant no return was given on the overnight loan he guessed the size was something like $10 to $30 billion he suspected (without much direct evidence) that it was Citigroup he believes the failing bank is a London subsidiary for a giant US-based bank he likened it to a plumbing blockage with extreme backup consequences he expects a ripple effect to cause shock waves, or a flood of sewage we wondered if it could have Commercial Paper consequences, since often used in overnights he has five expert friends watching for specific market reactions, like LIBOR
so be on the lookout in February, this source said that in May June timeframe, foreign creditors will put the screws to the US bankers, who are recognized as totally corrupt foreigner big bankers want to remove some power levers from US control
QUOTE ME IF YOU WISH my source remains anonymous / jim
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