Financial market losses could top 1,600 billion dollars: report

DPA
Monday, July 7, 2008

Geneva – The global financial crisis could lead to losses of 1,600 billion dollars for financial institutes, according a report in the Swiss Sunday newspaper SonntagsZeitung. It quoted a confidential study by the hedge fund Bridgewater Associates as saying losses for banks holding risky assets could be four times greater than the 400 billion dollars previously estimated.

The hedge fund expressed doubts that the financial institutes would be able to drum up enough funds to cover the losses, something it said could exacerbate the crisis.

Bridgewater, one of the world’s biggest hedge funds, based its calculations on the state of risky debt-based US assets, such as mortgages, credit and credit card demands.

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The value of such risky assets is 26,600 billion dollars, according to the hedge fund. The losses would amount to 1,600 billion dollars if these assets were valued at market rates and not in the form of securitization, the newspaper said.

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3 Responses to “Financial market losses could top 1,600 billion dollars: report”

1. nikoli Says:
   July 7th, 2008 at 10:02 am

   wow thats heaps of money….

   there is only 6 billion people on the planet…
   that money does not belong to banks… it belongs to you….

2. Mark Says:
   July 7th, 2008 at 3:54 pm

   The money doesn’t belong to anyone because the money doesn’t exist. Money that you create out of thin air because someone else created it out of thin air and “loaned” it to you doesn’t give you the right to it. In the end, the only thing that matters is what did the money buy and who ended up with it? This is the scam that the central banks play. But the funny thing about the whole thing is they can’t do it without our cooperation. And most Americans are more than willing to saddle up to the table and take their chances, like they’re playing a giant game of black jack. Sometimes you win. Sometimes you lose. But unlike Vegas, the house ALWAYS wins. They make money out of nothing. Whether it’s the interest you paid on the “loan” or the repossession of the tangible asset you tried to acquired with it. The House this way is going to make money off of you one way or the other. It’s like taking a loan to play black jack. Only problem with this type of game is the House figured out a better game to play. Why wait for the people to come to you one at a time to try their luck? It’s a hell of a lot easier just to get the politicians to go deep in debt at the taxpayers expense. Spend billions buying politicians and get back trillions from the people. It’s a simple game, but it seems to be so simple very few people can see it. And of course, the hardest part of this scam is finding a nation of idiots willing to allow it to happen. It’s taken decades to get a population as ignorant and self-absorbed as the one we have here in the U.S. You have to give the NWO guys credit, they sure know how to destroy a nation. Shame on us for letting that happen.

3. andy Says:
   July 7th, 2008 at 9:11 pm

   actually nikoli
   the central and reserve banks own the money,
   most of them being privately owned

   we are just the pawns that believe that money has value