2 more bank failures tonight

http://www.israelnational...

'I always think of all you canvassors and precinct leaders and delegates at the front line and caucuses.
Good luck out there &Thank you. You're a gift.

Till late Friday Night to release this info. I really thought we had more time but this will probably be a weekly occurence.
Man was born to be free and independent

This might help:
To contact Jim Sinclair:
****JIM IS NOT ACCEPTING EMAIL QUESTIONS AT THIS TIME. IF YOU HAVE AN URGENT INQUIRY THAT CANNOT BE ANSWERED ELSEWHERE YOU CAN CALL HIM DIRECT AT 1-860-364-1830
Fax him at 860-364-0673

You beat me to it!
http://biz.yahoo.com/ap/0...

You should be. If you can't get your money out of the country, get it into a safe bank. There is a free report here that lists the 100 safest banks in the country - two from each state:

http://tinyurl.com/6njldo

If your bank goes under, it can be a pain to get your money out, so you should move it while you can.

Jim Sinclair is talking about the Gold Juniors and I read all about the Gold Juniors....but what are the best GOLD JUNIORS I wish I had a list of recommendations from Jim

the markets have closed. It will be interesting to see if the FDIC pays out more than the $100,000 per account as they did with Indymac. These banks were much smaller, and my guess is that they WILL NOT. If they don't, they should be sued for practicing business discrimination.

Anyone who has more than $100,000 in anyone bank is a fool to do so in these times. As little as banks are paying for CD deposits, I'm surprised anyone would even purchase a CD knowing the extreme uncertain times were in.

hjschaapman

a warning from Jim Sinclair www.jsmineset.com
Posted On: Friday, July 25, 2008, 9:56:00 PM EST

The Catalyst For Financial Disaster

Author: Jim Sinclair

Dear Friends,

A serious event occurred today. This event was the very public international recognition of more off balance sheet so called “assets” revealed as having little, if any, value.

This event is arguably the most serious financial upset ever. If you have not protected yourself, it is getting very late - maybe too late.

Your best hope is that this event is so complex that the herd of self anointed experts has no clue what that vehicle is, how large it is and therefore the profound meaning it has.

Gold, serious junior gold shares (the only seriously underpriced and therefore real value in equities) and non-dollar short term federal currency instruments are your sanctuary. You better get there, and get there FAST!

Click here for the criteria you should consider when selecting junior gold share situations.

The meaning of this is not only are Freddie and Fannie’s troubles much costlier than realized, but now there is an entirely new definition of market-less financial entities with off balance sheet assets that undermine primarily the US and now international banking systems. Conduit mortgage OTC derivatives will have to be marked down now that the sun is shining on them.

The U.S. mortgage industry transformed itself in a way that has opened dangerous SIV sub prime real estate conduits to global capital markets.

A conduit loan is priced by swaps and swap spreads, thereby becoming a package of various OTC derivatives generally derived from a formula that would make Einstein look like a kindergarten mathematician.

By turning mortgages into securities, lenders created vast distances between homeowners and their mortgage holders, who can be anywhere in the world such as Australia.

US banks have written down $450 billion in bad housing loans. The revelation from NAB means that they will now certainly need to take provisions to $1,000 billion. Write-downs of $1,300 billion and perhaps even more are in the cards.

That guarantees the USDX at .6200 and more likely at .5200.

That guarantees gold to reach at least $1650 much sooner than I anticipated.

This strongly suggests that my estimate of $1650 is significantly below the price of gold coming soon.

This opens the probability that a modernized and revitalized Federal Reserve Gold certificate ratio tied to the M3 will evolve into the monetary system.

The greatest economic crime ever committed is OTC derivatives. Those that proffered these will have killed more people than most wars.

This is it and it is NOW!

Respectfully yours,
Jim Sinclair

thanks for the update. We need to stay one step ahead.

http://www.azcentral.com/...

Paper Ballots,Hand Counted At The Precinct Or Bust

This afternoon we received a phone call from Wachovia. Caller ID showed a number that was local in our town, so I'm guessing they called directly from the bank.

Anyhow, the purpose of their call was to thank us for our business and to ask if we had any questions or concerns. They didn't mention questions or concerns about anything in particular.

So, I said I do have questions and concerns specifically about seeing Wachovia mentioned in a number of news reports as being one of the banks that are in bad shape due to the financial crisis. Almost without skipping a beat the rep immediately read a canned response. It was obvious she was reading.

The odd thing about this phone call was that we NEVER (as far as I recall, anyhow) receive these types of phone calls from Wachovia. In addition, it seemed quite convenient that the rep had the canned response / paper right in front of her to read to me in order to address my concerns.

It ended up making me a bit more nervous about Wachovia. Especially the part where the bank rep said that this is a very tough time for the entire financial industry and that they are "hopeful" that Wachovia will pull out of this.

Well, I suppose them being "hopeful" is better than telling me to run for the hills.

Hopefully we don't receive much more bad news next week...

or posted it. Good to see folks here really have their eyes and ears open. Appears to be a hit of less than a billion dollars on the FDIC, as the banks were relatively small, compared to an IndyMac, and neither is publicly traded.

_________________________________________
"An economy built on fiat money is a society on its way to ashes."

http://digg.com/business_...

Americans have a very short attention span, don't watch the news on the weekend and are likely too busy shopping at Wal-mart to notice or sitting in the McDonald's drive-thru.

Freedom Isn't Free... Freedom costs a buck 'o five - Trey Parker

DUGG!

what is the annual rate of bank closure a year?

On A F'''ing Friday so people can not get at their money. I scheduled a withdrawal on August first......(I had to schedule it) I hope my Bank stays in tact for a week!

The average American is absolutely drowning in debt with no way to pay back all that they've borrowed.

Add in the job losses and increased fuel/food prices and something's gotta give.

We need Ron Paul!

NOW

http://digg.com/business_...