^^ I didn't listen... Sorry!! But what is the timeframe? I have been hearing about this since 2007 and it is yet to happen... Even though i read in 2008 it "is guaranteed to be in January 2009" I am sure you have all heard similar predictions. Shiny
Argentum, "from what i've read a while ago in US many of the local banks right after '08 many got bought out because they filed for bankruptcy. I also read somewhere something similar happened in 1930s where the big banks bought out small players increasing their market share" In the banking crash of 1933 the US started off with about ~55,000 banks. Many small regional banks failed as they were dependent on that regions economy. If the economy of a city or region went down, so did the bank. At that point, the shareholders lost 100%, and the FDIC arranged for another bigger, stronger, bank to absorb the failed bank, and the depositors were protected. This also happened in the GFC when many were taken over. It was NOT a conspiracy of banks to gain control of the poor starving masses. In fact the same thing happened in OZ in recent years, with Bank of Adelaide and SSB of Vic etc taken over. Our RBA and APRA have the same power, and the same plan. (The shareholders, your Super Fund, get nothing). OC
All the doomsdayers are quoting first Quarter 2014. Some are bringing it into second Quarter. This one calls first Quarter. I think there is some sort of wish fulfillment in these things but these people do often bring up interesting perspectives so I tend to hoover up lots of points of view for that reason. One thing that makes me nervous though is the inclination of the USA to believe in evolution, a greater power that will be their salvation and the inevitability of Armageddon - which they'll win of course. Woven in the conversation linked above is a rational for a China-Japan war followed by a US response followed by a Russian grab and 'tribulation' for all the believers for instance. What is of interest, and I've seen this elsewhere, is discussion of the massive sackings and departures of pentagon military over the last few years, the relocation of many 'insiders' away from cities, and the rise of the power of DHS. This conversation suggests that 'patriots' will force a successful rebirth of the Republic by civil war, inspired in part by the refusal of some of these military people to serve the Obama regime. There's also a tone of racism in the discussion of some of the gang warfare potentials in USA come any type of societal collapse, (but some valid points are made and if I were scoping potential problems in an economic meltdown I'd certainly include a bunch of starving people with a lot of automatic weapons.) If the USA were to fragment following economic collapse (as per the USSR breaking apart, then some of these fringe scenarios might have legs Time will tell won't it? In the meantime it entertains me whilst I do the housework LOL.
The problem with the banks in the US was ill advised real estate loans. banks normally don't file for bankruptcy in the US. The Feds come in, package the good parts of the bank and sell that to a solvent bank. The junk is written off and sold off by the Feds,
