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Scramble to save banks as IMF warns of meltdown
James Mackenzie and James Grubel
Reuters
Sunday, Oct 12, 2008
Rich nations rushed to shore up the global financial system after the International Monetary Fund warned of meltdown, with Australia and New Zealand guaranteeing bank deposits and newspapers reporting plans for Britain’s biggest retail bank rescue.
The International Monetary Fund said it backed a Group of Seven plan to try to stabilize markets and urged “exceptional vigilance, coordination and readiness to take bold action” to contain a firestorm that pushed global stocks to five-year lows.
Under the Australian plan, all deposits in the country’s banks, building societies and credit unions, would be guaranteed by the Australian government for the next three years, Australian Prime Minister Kevin Rudd told reporters.
(Article continues below)
The government would also guarantee term wholesale funding to local banks until global financial markets stabilized.
In the UK, the Sunday Times newspaper said Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a combined 35 billion pound ($60.5 billion) lifeline.
France promised that a meeting of European leaders in Paris on Sunday will detail measures to keep a market panic from triggering the most severe global downturn in decades.
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10 Responses to “Scramble to save banks as IMF warns of meltdown”
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October 12th, 2008 at 11:23 am
They use the cookie cutter approach to destroy the middle class everywhere, the sucking sound now is the sound of the money being vacumed out of the middle class pockets into the pockets of the elite.
AIG held a four hundred thousand, plus, dollar party using some of their taxpayer bail out money. The elite are really thumbing their nose at the rest of us.
October 12th, 2008 at 1:26 pm
IMF global ‘meltdown’ warning
http://www.youtube.com/watch?v=buptwi8tQS8
October 12th, 2008 at 2:15 pm
I have thought alot about what we can do and after seeing a few more FEMA camp videos I have come up with the answer and it is this: When the camps start filling up it is our duty to destroy them and all their facilitators(Blackwater-they are privatized and that’s why all the vans and helicoptors are black). The camps should be the rallying points. Do not allow the black vans full of citizens to enter the camps. Free the citizens and destroy every one of them. And if you hear a helicoptor landing in your neighborhood in the middle of the night go out there and fill that bitch with holes and light it on fire. There are not enough US troops to round up everyone. I’m convinced the roundups will be done by blackwater goons. They should be the primary targets as they are paid mercenaries willing to bring death to any and/or all of us. So let’s just start there and regroup after the react to contact begins. If you live near what you suspect is a FEMA camp, organize your battle groups and form contingency plans. Build secret fortified bunkers all around them under cover of darkness. Learn the surrounding terrain. Be vigilante. They can’t kill ALL of us. Remember, all we say is tracked and traced so only with people you personally know, and ALL communications should be done in person only. Imagine what will happen when they start trying to put people in the camps and all across the nation patriots wipe these fucking camps out and kill all the blackies. I feel SOOOO much better already just even thinking about this. We owe our fellow brothers and sisters this commitment of protection. DOWN WITH THE CAMPS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Godspeed
October 12th, 2008 at 2:29 pm
I took all my money out of the bank today. I just don’t trust them anymore.
October 12th, 2008 at 2:29 pm
THE HIDDEN PROBLEM
IF YOU HAD $100,000 TO INVEST IN STOCKS WOULD YOU INVEST IN COMPANY “A” WHO HAS TO PLAY BY THE RULES
OR
INVEST IN COMPANY “B” WHO HAS A BLANK CHEQUE FROM THE GOVERMENT WITH NO CHECKS ON HOW THE USE IT
THIS IS WHY THE STOCK MARKET WILL NEVER RECOVER
October 12th, 2008 at 5:28 pm
Mike Huckabee, interviewing Chuck Norris, discussed “economic terrorism” on his TV show aired on FOX News.
What he seems to be oblivious to is the fact that this terrorism comes from CFR, Bilderberg, etc., NWO global front and NOT from some Islamic boogey-man.
October 12th, 2008 at 7:09 pm
Interesting concept – an econobaric bomb, the financial vaccum bomb.
I wonder if anyone has a video of that…
http://www.youtube.com/watch?v=moEzECvJDas
October 12th, 2008 at 7:57 pm
I took all my wooden nickles out of the bank today. I just don’t trust them anymore. but how do I prevent woodworm from eating away at my assets?
October 13th, 2008 at 12:30 am
Butch yr dim very dim.
October 13th, 2008 at 5:36 am
The truth is also the lie
You are born
And you will die
You are Christ
You are Antichrist
You are the Alpha
You are the Omega
Thinking or not thinking
Is sane or insanity
Because there is no past
There is no future
Trying to explain this by being in the……
NOW
WILL ONLY MAKE YOU BI-POLAR
think or don’t think about that
WE ARE GOD