cruiser] misskitty05 I think alot is done. After today's downgrade, i believe everything else is finished. Now it is on to things we know. Iran's sanctions start July 1. So that means Europe and China needs oil. Guess where they get it from???
Pastor Jedi] honeybelle, yes, I was just commenting to someone that I thought it was interesting that the world markets and banks are all suffering at the same time, I think it gives credance to the World currency RV situation.
cruiser] Here is another interesting thought. We know that the U.S will pay $32/ barrel. So the U.S will get it at $32 and sell it to Europe and China at market price..
[cruiser] Also July 1 we get a new World Bank President (he takes over 100%)
wittsend] GJHHonor IMF, certainly, BIS, probably, don't see the role for the WB.
[cruiser] wittsend IQD or Iraq for that matter is a third world country. Now they will become a major player in the global economy and was helped out by the WB and the IMF..
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[mbillions] cruiser So is the world bank gonna hit the ground running?
[misskitty05] I would assume the new guy at the WB is intimately familiar with what's going on and won't want to upset the apple cart..but I sure hope it's over before he takes over
[wittsend] cruiser What role did they (WB) play, other than a line of credit. fail to see how they're involved.
[cruiser] mbillions yes.. The new President wants WORLD EQUALITY...
[cruiser] Jim Yong Kim is his name..
loumat] honeybelle Wells Fargo escaped the downgrade...I don't think they were involved in European sovereign debt holding
[oldmanontheriver] Wells Fargo seems to be one of the more stable banks.
[cruiser] loumat WF was not part of the Sub Prime crisis in 08 and has always been a strong bank. Now they are even stronger.
[loumat] oldmanontheriver Ithink for that reason, and the fact that they were not involved in the Sub Prime Loan debacle
[Bravo] cruiser Look up WF and Derivatives!!
[honeybelle] manifest Pastor Jedi loumat tyvm I have trouble understanding those things took care of people all my life not econmics ty
[oldmanontheriver] Well folks I hope we will be going to the bank soon!
[larryc] cruiser WF bought out Wachovia and they were up to their necks in the sb prime bubble
[cruiser] larryc they were asked to bail out Wachovia..and they did..
[hollyberry] cruiser don't the chinese own over 50%?
[larryc] cruiser bailout?... they bought out and merged
[GJHHonor] ette cruiser I once heard last year that Hillary Clinton was going to be the head of the world bank was that wrong?
[cruiser] hollyberry that is what people say.
[loumat] larryc I think Chase bought Wachovia
[geterdone] loumat In Florida WF bought them
cruiser] larryc Wachovia was going broke. they were subprimed up to their necks.
larryc] WF was well into the purchase when Wachovia started to own up to how bad off they were
cheeny] cruiser ..Our attorney told us that there were certain big banks that were pretty much ordered by the Fed to take over certain banks that were in trouble. Wachovia was laundering drug money also so I read. That was a while back.
cruiser] cheeny I do not know about the drug money part, but they were in trouble from the sub prime, just like alot of other banks..
loumat] cheeny the little banks were the ones that got screwed by Dodd Frank..our local community bank was short on reserves with the new rules..were solvent and had no sub prime exposure,,,,but they closed them anyway
[loumat] honeybelle the bank was in good standing before the legislation and was financially sound..but the FDIC didn't give a damn
[cheeny] Well if our money system changes then I have no idea what will happen if we end up with a new system, but our attorney again said that the banks that were strong armed into taking over other bigger banks would be covered by the fed because of that. Have no idea now
[cheeny] loumat ..I have no doubt that gov is trying to centralize banks and pull money out of our communities.
cheeny] loumat ..was that Dodd Frank or basil II or III or are they intertwined?
mbillions] cheeny fannie and freddie
[loumat] cheeny ??? If the government controls capital, they control the means of production,,,,and you know what that is the definition of!
[loumat] cheeny "We are your government..We are here to Help!" LOL