Worldwide Banking Meltdown In 3 Weeks?

[Taco]

Ok, I hope you guys take this seriously, things are going to get crazy soon I just hope everyone is prepared for the worst.

IMF Advisor
http://www.youtube.com/watch?v=5M_mP6Et ... ideo_title

Bank Of America
http://www.youtube.com/watch?v=DVYYvNVF ... ideo_title

You might want to start stocking up on a few essentials.
http://www.youtube.com/watch?v=jjBygtZA ... ature=fvwp

[Rock]

Ok, I hope you guys take this seriously, things are going to get crazy soon I just hope everyone is prepared for the worst.

IMF Advisor
http://www.youtube.com/watch?v=5M_mP6Et ... ideo_title

Bank Of America
http://www.youtube.com/watch?v=DVYYvNVF ... ideo_title

You might want to start stocking up on a few essentials.
http://www.youtube.com/watch?v=jjBygtZA ... ature=fvwp

I have an account at Bank of America and do not have any problem accessing the website or my account online.

[Taco]

Ok, I hope you guys take this seriously, things are going to get crazy soon I just hope everyone is prepared for the worst.

IMF Advisor
http://www.youtube.com/watch?v=5M_mP6Et ... ideo_title

Bank Of America
http://www.youtube.com/watch?v=DVYYvNVF ... ideo_title

You might want to start stocking up on a few essentials.
http://www.youtube.com/watch?v=jjBygtZA ... ature=fvwp

I have an account at Bank of America and do not have any problem accessing the website or my account online.

I'm glad that your account is safe. However, Bank of America has lost about 2/3 of its value this year after being bailed out 3 years ago.

http://www.nyse.com/about/listed/lcddat ... 1Y&index=5

[well-informed]

It's been 3 weeks Taco, where's the worldwide banking meltdown genius

[odbo]

He can't hear you. Taco is sitting in a deep underground base beneath Denver Airport waiting for the fallout from George Green's neutron bombs to subside. Until then he has to keep busy with no internet! On the bright side there is a 10:1 ratio of women to men. Such was deemed necessary back in the 1950s for more rapid re-population. But I wouldn't want to be there when they all start pmsing.

[Repatriate]

If you could accurately predict a bottom within a 3-6 month time frame you'd be a very very very wealthy man. All you'd have to do is buy a massive amount of short (put) options on a market index then watch it skyrocket.

[MrPeabody]

I can't understand this phenomena of people getting their information from Youtube. Why would anyone believe what they hear on Youtube? I have an account at Bank of America and it was never down for six days. They had problems with the server for one or two days. These idiots just make it up as they go along.

[Repatriate]

I can't understand this phenomena of people getting their information from Youtube. Why would anyone believe what they hear on Youtube? I have an account at Bank of America and it was never down for six days. They had problems with the server for one or two days. These idiots just make it up as they go along.

I recommend you read this book The Great Derangement



It talks about how people (especially Americans) are increasingly infatuated with conspiracies, mysticism, etc.. instead of engaging in productive or rational debate about real issues.

[Rock]

If you could accurately predict a bottom within a 3-6 month time frame you'd be a very very very wealthy man. All you'd have to do is buy a massive amount of short (put) options on a market index then watch it skyrocket.

Poor unenlightened one. It goes way beyond mere markets. Your money will be useless pieces of paper no matter what indexes do. The US$ will collapse into a black-hole. You should be stocking up on peanut butter and ammunition. Take it from Taxo, he has all the inside info on this. Act now before its too late.

[MrPeabody]

It's a picky point, but puts aren't short, but you can short puts, which means that you are writing the contract. There was actually a guy who wrote a book about "black swans" who became rich by buying deep out of the money puts to cash in on a crash. There are guys who short out of the money options to collect premiums thinking it is zero risk easy money and they are the ones who get wiped out.

[Repatriate]

Poor unenlightened one. It goes way beyond mere markets. Your money will be useless pieces of paper no matter what indexes do. The US$ will collapse into a black-hole. You should be stocking up on peanut butter and ammunition. Take it from Taxo, he has all the inside info on this. Act now before its too late.

I must be ahead of the curve since i've been stocking up on rice, instant noodles, and bottled water the last few days in Bangkok already. Taco is right 2012 is coming and we'll be back to trading buck skins and on the gold standard in no time.

It's a picky point, but puts aren't short, but you can short puts, which means that you are writing the contract. There was actually a guy who wrote a book about "black swans" who became rich by buying deep out of the money puts to cash in on a crash. There are guys who short out of the money options to collect premiums thinking it is zero risk easy money and they are the ones who get wiped out.

Yeah I know a short is not the same as a put option but conceptually they are both betting on a down trend. Whereas when you actually short a put option you are betting on an up trend.

[Rock]

I must be ahead of the curve since i've been stocking up on rice, instant noodles, and bottled water the last few days in Bangkok already.

Yes, I meant to ask you about the Thai floods. Do you think river areas of Bangkok, especially Bangrak (Shangrii-La, State Tower, etc) will be hit hard soon? What part of city do you live and work in? How serious is the impact on life, tourism, economy, etc. relative to other Thai crises recent history? I know that these questions have nothing to do with OP...fortunately.

[momopi]

If civilization falls and paper currency becomes worthless, stuff like hand tools, boxes of nails, needles, threads, fishing gear, guns, ammunition, canned food, candles, matches, etc. would be far more valuable as trading goods.

Shelf-stable for up to 30 years:
http://www.mountainhouse.com/


...don't be the guy holding gold when shovels and picks are worth more than gold.

[odbo]

[Repatriate]

I must be ahead of the curve since i've been stocking up on rice, instant noodles, and bottled water the last few days in Bangkok already.

Yes, I meant to ask you about the Thai floods. Do you think river areas of Bangkok, especially Bangrak (Shangrii-La, State Tower, etc) will be hit hard soon? What part of city do you live and work in? How serious is the impact on life, tourism, economy, etc. relative to other Thai crises recent history? I know that these questions have nothing to do with OP...fortunately.

I'll probably go out later today or this week and take some recon photos of the surrounding area. It depends on whether or not I feel up to wading around in contaminated waste water for photos or not. The flooding is just starting to reach my condo, I live by a freshwater canal that the city uses for drinking water. It overflowed yesterday and spilled into the main roads.

The entire west coast of the Chao Phraya and entire western districts are heavily flooded. East of the Chao Phraya is what you know of as "inner bangkok" and where most of the actual highrises, tourist areas, and big offices are located. I live on the eastern part about 5km south of Don Muang airport. So it's definitely coming my way from the far north but since I live in a high rise it won't effect me that badly. They said there's something like 8-15 Billion cubic sqm of water that needs to be drained. The Chao Phraya itself is flooding its banks. The area around the grand palace and portions of chinatown have streams running through them at the moment.

The impact is real serious. It's way more serious than even the 2008 red/yellow shirt stuff and even the tsunami. The entire industrial sector up north has been shut down. That's nearly all of Thailand's important industry which includes Honda, Toyota plants, Western digital HD, and many many smaller parts manufacturers. The price for hard drives has spiked worldwide by 50-100% since Thailand flooded because this country manufacturers many major components. Many farms had their entire stock lost too, hundreds of thousands of chickens drowned on one farm. Egg prices have spiked in Thailand because of that.

The estimated damage right now is hovering around 5 billion USD plus. Possibly a lot more because after the flood there will most likely be lots of sick people, lost industry, and construction going on. Plus entire rice harvests were prematurely cut or totally lost, for the world's #1 rice exporter this is really bad.

Anyways, Thailand will recover but who knows what the cost will be. The politicians and Thai people in general don't think long term. These disasters could have all been easily prevented.