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Get ready to go into the tank!
zipperzap
Member Posts: 25,057
This crossed my desk this morning from a friend in the know. This would be a good time to buy gold.
Royal Bank of Scotland warning:
RBS issues global stock and credit crash alert - Telegraph
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cnrbs118.xml
"The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks."
Barclay's warning:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/27/cnbarclays127.xml
Barclays warns of a financial storm as Federal Reserve's credibility crumbles - Telegraph
"Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm..."
"They will have to slam on the brakes. There is going to be a deep global recession over the next three years as policy-makers try to get inflation back in the box."
When is the last time that you heard banks publish such pessimistic warnings, basically telling their clients to get the **** out of the stock market?
Even if it doesn't come as bad, it shows that the worldwide economy is in more trouble than many would like to admit.
Royal Bank of Scotland warning:
RBS issues global stock and credit crash alert - Telegraph
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cnrbs118.xml
"The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks."
Barclay's warning:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/27/cnbarclays127.xml
Barclays warns of a financial storm as Federal Reserve's credibility crumbles - Telegraph
"Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm..."
"They will have to slam on the brakes. There is going to be a deep global recession over the next three years as policy-makers try to get inflation back in the box."
When is the last time that you heard banks publish such pessimistic warnings, basically telling their clients to get the **** out of the stock market?
Even if it doesn't come as bad, it shows that the worldwide economy is in more trouble than many would like to admit.