News

**LoP Guest** lop guest User ID: 64854 11-30-2011 02:24 PM

UcDat Wrote:

"NEW YORK (AP) — Standard & Poor's Ratings Services has lowered its credit ratings for many of the world's largest financial institutions, including the biggest banks in the U.S.

Bank of America Corp. and its main subsidiaries are among the institutions whose ratings fell at least one notch Tuesday, along with Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co.

S&P said the changes in 37 financial companies' ratings reflect the firm's new criteria for banks"

http://news.yahoo.com/p-downgrades-top-u...21310.html

So what does this mean to you? Well the banks who own you have just been dowgraded so they wont be able to borrow money as cheaply to float the interest on the bill they raked up on your credit card.
What happens when you cant pay your credit card? You guessed it you get cut off then they send you nasty letters then the repo men move in take your stuff and stick you in debtor prison as a slave. Just look at how its working out in Greece. So if your sitting on cash get out same with land and gold unless its out of the reach of the repo men/government.
ps you got maybe day weeks a month or three but dont hold any hope for a year or more.

Credit cards are easy to beat. By now you should that.

**LoP Guest** lop guest User ID: 65507 11-30-2011 02:50 PM

but its all debt

we dont have any cash to make a bank run with ????

**Omega** · **Omega**Ex-Moderator User ID: 3023 11-30-2011 03:24 PM **Posts: 21,040**

And THE EMPIRE strikes back!!!

S&P futures up 30 points!!! Party like it's 1999!!!!

Scream1

As expected, the Fed has just bailed out the world once again:

FED, ECB, BOJ, BOE, SNB, BANK OF CANADA LOWER SWAP RATES - BBG
ECB, FED other major central bank to lower the pricing of existing USD liquidity swaps by 50BPS

And as we have been writing every single day, the worldwide dollar crunch is now confirmed:

At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar

And finally, a promise to bailout Bank of America when it hits $4.00 again:

U.S. financial institutions currently do not face difficulty obtaining liquidity in short-term funding markets. However, were conditions to deteriorate, the Federal Reserve has a range of tools available to provide an effective liquidity backstop for such institutions and is prepared to use these tools as needed to support financial stability and to promote the extension of credit to U.S. households and businesses.

This means that the global situation is far, far more dire than the talking heads have said. Luckily, when this step fails, which it will, Mars can always come and bail us out.

Excerpted from and the rest at:

http://www.zerohedge.com/news/here-comes...y-bail-out

**LoP Guest** lop guest User ID: 54260 11-30-2011 06:27 PM

LoP Guest Wrote:

Rager Wrote:
people thought the same thing when the u.s. got downgraded as a country (remember that?)

since then, i've learned to hold my breath when it comes to this stuff being the end (or beginning of the end)....

Have you ever tried holding your breath for 9 minutes? If so, that would explain a lot.

Wake me up when its over!

**UcDat**

Omega Wrote:

And THE EMPIRE strikes back!!!

S&P futures up 30 points!!! Party like it's 1999!!!!

As expected, the Fed has just bailed out the world once again:

FED, ECB, BOJ, BOE, SNB, BANK OF CANADA LOWER SWAP RATES - BBG
ECB, FED other major central bank to lower the pricing of existing USD liquidity swaps by 50BPS

And as we have been writing every single day, the worldwide dollar crunch is now confirmed:

At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar

And finally, a promise to bailout Bank of America when it hits $4.00 again:

U.S. financial institutions currently do not face difficulty obtaining liquidity in short-term funding markets. However, were conditions to deteriorate, the Federal Reserve has a range of tools available to provide an effective liquidity backstop for such institutions and is prepared to use these tools as needed to support financial stability and to promote the extension of credit to U.S. households and businesses.

This means that the global situation is far, far more dire than the talking heads have said. Luckily, when this step fails, which it will, Mars can always come and bail us out.

Excerpted from and the rest at:

http://www.zerohedge.com/news/here-comes...y-bail-out