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BUY GOLD & SILVER NOW. THE FINANCIAL COLLAPSE & HAS HAPPENED. THE WORLD IN RECESSION OR IS IT DEPRESSION

Hua Seng Heng GOLD SHOPS note the sign above the road.

SO WHATS HAPPENING TO THE WORLD & WHY

FINANCIAL COLLAPSE HAD TO HAPPEN:

The world in 2011 is a mess. Governments have not curbed spending and borrowing & now the EU is in a mess. USA has been downdraded to AAA same as NZ status now and the confidence of the Banks being in disarray. The US Fed needs to stop printing money they cannot back up and the world is heading for recession once again. There was nothing learnt during the last monetary crash led by greedy Bankers & rating agencies who squandered the subprime CDOs. Now we have China heading the world as the strongest nation & the likes of USA, France and Germany intent on taking the oil from Libya etc.


1. At the beginning of July 2008, the Bank of International Settlements in Switzerland , which is owned by the thirteen [Illuminati] Banking Families under Rothschild, stated that it wanted to audit the US Federal Reserve. Bush reluctantly had to agree to this, but with the proviso that the audit would not be conducted until he has left office. However, when the truth inevitably leaked out on 30th September 2008, clearly the Bank of International Settlements will no longer be prepared to accept the US Dollar due to Bush.


2. With the realization that the Federal Reserve has been pumping two billion US Dollars a day into the economy in a forlorn effort to try to keep the US afloat, the US is now construed as 'the poor kid on the block', the 'bankrupt of the world' and nobody is prepared to lend them anything although at present the US$ stays good. .If you think the present crashes will end soon then you may have to think again. How they can keep printing money beats us!!! just to bail out banks who have given their execs enormous payouts??? where is the justice in this and why haven't these bank rationalized. Ok this will mean unemployment but the salaries for execs are not affected nor their payouts it seems. No regualatory systems in place has seen today the biggest fraud scam with the Ponzi scheme by Jew broker Madoff. $$$$B have been lost to fraud by this man but noone taking the blame; the judge will not jail him??


3. This situation has a worldwide repercussion: for example China, which is the biggest US creditor, has told US importers that they may not pay more then 20% of the total cost of their goods in US Dollars and note the changes in currenices dropping at the moment in Oct 2008 & market shares also falling. The affects in Asia are now taking shape as at Jan 2009 with unemployment starting to boom. The depression is running its course belive me.


4. Since the beginning of July, Germany has announced that it will no longer accept Euros from eight of their fellow EU members, the two countries with which they are most concerned being Italy and Spain but since Oct 14th things have changed and all governments in the Eu are propping up their banking systems as more companies shed workers.

5. The Real Estate market is expected to go down by an additional 50% from its value on 16th August. Because of the collapse of the Real Estate market, which is expected to lead to at least a further two million foreclosures within the next 12 months, US Banks are no longer prepared to trust each other, so inter-bank lending has virtually ceased. In Thailand within the next 6 months NEW condo complexes will be affected to the point where condos will fall as more Thai consolidate and need cashflow. 2009 the housing industry has collapsed more with bailouts for Freddie Mac just another step closer to depression


6. This has had a knock-on effect on would-be house purchasers.like the old days, anyone who now wants to get a mortgage has to put 20% down and to satisfy the lender that their job is secure so the days of 90% loans are gone but will you be able to service the loans you have now as inflation creeps in and prices don't drop. Those who borrowed before the crises farms etc are now finding banks will not lend to them the $$$m they need and are losing their deposits eg NZ in Oct/Nov over $100,000 losses in deposits. But still their are no regulations in place for Banks and Finance companies by governments. No accountability just makes it more easier for fraud.


7. You may have seen Bush go on television to tell everyone not to worry as the US Government-sponsored Federal Deposit Insurance Corporation (FDIC) will guarantee the safety of their bank deposits. However, the truth is that the FDIC can barely raise 30 cents on the dollar to cover its potential liabilities; and Bank of America and Wells Fargo are in a similar situation. The US needs $2b a day to keep the lights on so they just keep on printing money??? but can this last. Citigroup is in dire straits and is laying off many employees. 52,000 of Citigroup's 352,000 jobs by early 2009, and to move tens of billions of dollars in troubled securities onto its balance sheet. 2009 up to 2m jobs to go in USA alone.



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8.

Within the last three months, major U.S. lenders Wachovia Corp and Washington Mutual Inc suffered rapid outflows of deposits, as losses mounted on mortgages and other debt.Under pressure from regulators, Wachovia agreed to sell itself, while Washington Mutual failed and its deposits and some of its assets were bought by JPMorgan Chase & Co. Banks have already started telling their depositors that they cannot withdraw their own cash and there are more banks that will hit the wall as we write. The Bank collapses have spread right around the world and will increase as will the attempted bailouts by governments who must print money to keep up but how long can this last. Banks have been given Fed loans are not using the funds as stated but securing their own good welfare. The Iceland Bank is broke & won't respect depositor funds from the Uk only themsleves?.


9. It is universally accepted internationally that the US Dollar is going to collapse by the end of December 2009. Some foreign banks have already started to refuse to take US deposits and, since the Patriot Act, if you do manage to send money to a foreign bank, they are required to report the fact to the USG, who will make you prove how you obtained it and if you cannot do so, they will automatically label you a 'terrorist' or a 'drug dealer' and confiscate it. Thailand also not lending to US companies (see below news) but as at Oct 14th interest rates have dropped but for how long? In Thailand garment producers for countries like Japan and USA are closing down & factories in Thailand finding it hard to get secure contracts now.


10. The Bank of South America is trying to organize its own currency for use within the South American continent when the US Dollar finally crashes, based on an initial provision of $US10 billion dollars. A new regional development bank for South America known as the ‘Banco del Sur’ will be launched ”, finance ministers and other representatives of seven Latin American countries announced in late June.


11. As at July 1st, the Japanese stock market was down 12% & now in recession Nov 2008 as with germany etc , the Australian stock market was down 18%, the German stock market was down 22%, the Indian stock market was down 36%; and China's Shanghai Exchange was down 50%. The slide in currencies will continue and wages etc must fall or unemployment will increase.


12. Within the next year, the DOW is expected to fall to between 7500 and 8000. It came close but has risen again as at Oct 14th.


13. Everyone is now desperately trying to get liquid; and Oil, Gold and Drugs have become the universally accepted world currencies. The stock markets are in disarray and Hedge funds are collapsing as panic bites in. GM, Chrysler & Ford are now in dire straits and they JUST GOT BAILED out in December for their own delemnas and they will come back wanting more. Oil has dropped and interest rates at a low 1% which is good for economies but salaries are too high and these must follow.


14. The only sensible advice is either to change dollars into other currencies, or buy gold and silver (while you still can, because the US is likely to make it illegal to own gold); and stock up on canned food, the price of which is going to go through the roof. Already the major canners have reduced the size of cans by 20% to preserve stock whilst also maximizing their profits.

15. The worsening economy is squeezing all airlines. Europe's flag carriers, with dwindling sales of premium-class tickets starting to take their toll. On Thursday, Air France-KLM followed British Airways and Lufthansa in reporting a steep fall in quarterly earnings, largely because of the asphyxiating price of oil last summer.

16. Plunging oil prices and the global financial crisis, have hammered Russia particularly hard, & raised questions about Russia's reliability as an economic partner for the Sth American countries whom they were about to be heavily involved with.

Central banks are the ones responsible for creating this system thanks to their "fiat currency system" ( the fiat currency system that we have now is based on trust, trust in terms of paper money, trust in the government who really never can tell a situation will happen.

We believe in them as we have no choice so now you can see whats happening ). Since the introduction of the Euro, monetary inflation has been exceeded 10% per year. A lot of people don't know it, but monetary inflation is the real, true inflation so think about your future. Monetary inflation is printing money & thats why we are talking about bilions now not millions. Credit expansion is based on the promise to pay money back. The Central Banks give money to Banks and Financial houses on credit. These Banks lend money to people hoping that it gets paid back because those banks are obliged to pay back the central bank. The central bank approves the credit that the banks lend to individuals and companies. If people are no longer able to pay it back because they've gotten so deep into debt, then the banking sector can't meet its obligations to the central bank either. But in this case Banks were ending 100% with no equity. That results in bankruptcy. And what we're now seeing - the first signs of this with the credit crisis - is that a few banks have already gone bankrupt. Bear Stearns & now Lehmans & then Insurance Companies like privately owned AIG with many more to come. The US Govt should not bail out the likes of AIG but they have & now you have one man dictating the terms of a Central Banking system & perhaps the collapse of the monetary system -- thats right Paulson! However the bailoput happened and the people are the losers. The winners are the bank execs who are taking home huge bonus payments eg Lehmans.The market crash has stalled the once on-course retirement plans of hundreds of thousands of investors & the losers are the borrowers --people who now cannot pay back the banks. But the situation is the world will get worse and people need to not just use one bank but spread their money around. Just watch other countries??? and you will then realize take your money oput of the banks and invest in gold.

DECEMBER 2008 US CRISES REPORT

Jobless numbers are skyrocketing, the stock market is plummeting and the banking industry continues a decline, outpaced only by the fall of the U.S. auto industry. The Bush administration has not said much about the issues other than to quietly state its positions. The executive office has approved extending unemployment benefits, has opposed a wholesale bailout of the auto industry and frowns on the idea of using the $700 billion in Temporary Asset Relief Program funds to help homeowners or to provide bridge loans to automakers. Every day now jobs are being lost as more companies bite the bullet

UPDATE JANUARY 2009

Unemployment set to get worse in USA by 2m jobs this year and more in every country as the situation gets worse. General Motors has opened negotiations with the United Auto Workers to determine what concessions unionized workers will have to make to keep America's largest automaker from bankruptcy. The company has now received the first $4 billion of $9.4 billion in federal bailout funds, but has only until March 31 to submit a plan to the White House outlining the steps it will take to return to profitability. If federal officials are not convinced by the plan, they can recall the loan - forcing the company into bankruptcy. UAW resistance to wage cuts, according to some negotiators, was what killed an earlier auto bailout plan proposed in Congress in November

UPDATE JANUARY 2010

Unemployment set to get worse in USA and as the Fed keeps on prionting money to save institutions the Banks keep on doing the same thing.

 

Our motto buy gold& silver while its low & maintain assets you have. Most of all don't borrow & keep control of your funds???

Source: Pier Stern / Khun Tam & http://www.deepjournal.com

George Soros, the hedge fund legend and billionaire philanthropist, said on the 9th April 2008 the subprime mortgage crisis is likely to cause global losses of over $US1 trillion, characterizing the situation as the most severe since the Great Depression. It is now Sept and AIG, Lehmans, Bears & Stern, Washington Mutual Inc, Icelandic bank, California-based IndyMac Bank etc have collapsed and many more to follow. Analysts project another 150 banks could collapse but now in 2011 anything can happen as the world crises will deepen .

We have yet to see subprime hit Thailand --- it will as the banks are saying nothing yet hiding behind a charade & the politicians are more concerned about getting ministries & fill their pockets more. Condos in Bangkok are plentiful and Property Investors are saying there is not enough condos here but they normally say this so people will invest. If you borrow you are in for a shock. If you have excess funds to play with OK but stay away from fund managers & hold on to your money --- better still listen to us and buy condos only not 30 year leases in Thailand under Estate managements and just buy what you need. But check out the condo and Company first if they have mortgages? The rest invest in gold & silver is our fix . [ Read more about Fund Managers ]

LEHMANS BANKRUPT BUT GUESS WHO GOT THEIR MONEY:

The bailout helps the Execs and banks not the taxpayers and in fact thery lose out completely. The firm Lehmans, in the days before it filed for bankruptcy, sought board approval to pay three departing executives more than $20 million, according to Waxman."Even as Mr. Fuld was pleading ... for a federal rescue, Lehman continued to squander millions on executive compensation," Waxman said. Waxman displayed a chart that detailed what he said was $480 million in compensation since 2000 and pointed out that Fuld owned a $14 million oceanfront home in Florida, an extensive art collection and another home in Sun Valley, Idaho. "Your company is now bankrupt, the economy is in a state of crisis, yet you get to bring home $480 million," said Waxman. "Is this fair, when the CEO of a company that's bankrupt has made that much money?"

GENERAL MOTORS, FORD & CHRYSLER SET TO GO INTO BANKRUPTCY:

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough. All three CEOs - Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler - exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM's $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone.

GM has announced it will get rid of 2 (out of 7 jets) of its corporate jets after arriving in Washington to ask for bail out monies yet have no concern to trim costs nor had a plan of how they will trim costs. GM pays more money in corporate sponsorship than Ford or Chysler who also asked for a handout but they too had no game plan to trim costs as well as execs salaries..

On Oct. 3, AIG said it had already used $61 billion worth of the loan and was selling off parts of its business to help pay it off.On Oct. 16, the House will hold a hearing on the regulation of hedge funds. An Oct. 22 session will focus on the breakdown of credit rating agencies, and a hearing on Oct. 23 will scrutinize the role of federal regulators. But execs still have high salaries and jobs and have control of the funds???? Again how can they determine what their assets are worth?

December 2008 the big 3 have been given a bailout? But will this be enough to survive. We think not?

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THAI BANKING SYSTEM OCT 2008

Local banks have been cutting back funding lines to US companies as credit risks have jumped sharply in recent days.Bank executives said local banks have been refusing to roll over their short-term credit lines to international clients, particularly US firms, as a result of the global credit crunch.Some banks are concerned that funding will simply be transferred offshore to help parent companies starved for cash. Other bank executives said the cutbacks simply reflected prudential lending practices as credit risks have jumped sharply.While liquidity remains plentiful in the local money market, global equities markets have nosedived as analysts express concern that the financial crisis will spark a full-blown recession as companies are locked out of credit.US and European banks, already suffering from declines in the value of the securities and mortgage loans, have cut back new lending due to capital constraints and fears about credit risk.Apisak Tantivorawong, the president of Krung Thai Bank and head of the Thai Bankers' Association, acknowledged that some banks were cutting back short-term lending for some clients.''This is normal practice under each bank's risk management system. Definitely the uncertainty in the local and global economic outlook has led to higher risks and lower loan growth,'' he said.He said that KTB, the country's second-largest bank, was maintaining its lending practices, but that rejection rates may rise as credit qualifications for borrowers fall with the slowing economy.Net lending growth in the third quarter would decline from the first half, Mr Apisak said, due to the slowing economy. The bank in any case still expects to post a net profit for the quarter, even after increasing provisions to fully cover its $160 million investments in offshore collateralised debt obligations.Political unrest and the violent clash between the People's Alliance for Democracy and the police this week had also affected already-weak investor confidence, which in turn would affect investment and consumption trends for the near future.''The private sector is definitely concerned about the political uncertainties. After the violence on Tuesday ... the country has no solution to the problems. This will only further affect confidence and the economy,'' Mr Apisak said.For now, loan quality remains relatively strong, although the trend is negative in line with the overall economy.''The bank's non-performing loans for the quarter are expected to be unchanged from the last quarter. The negative environment will affect distressed assets over the next six months, but we see the situation is still controllable,'' Mr Apisak said.Wiwat Kittiphongkosol, an executive vice-president of Siam Commercial Bank, said the bank was maintaining its loans to both local and foreign clients.''The US crisis has been limited to the financial industry, but the real sector has remained normal,'' he said.But SCB is taking a more cautious approach to trade finance and clearing letters of credit issued by foreign banks.Mr Wiwat said liquidity conditions would tighten and funding costs would increase due to global market turmoil. Bangkok Post source 9th Oct 2008

If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today. If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today. If you had purchased $1,000 of shares in Lehman Brothers one year ago, you will have $0.00 today. But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00. Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-Keg.
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A recent study found that the average American walks about 900 miles a year. Another study found that Americans drink, on average, 22 gallons of alcohol a year. That means that, on average, Americans get about 41 miles to the gallon! Makes you proud to be an American! 

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