Royal Bank Of Scotland Issues Official Warning

Dow lost about 500 points last week. A great financial disaster could happen this summer!

by Ian Mosley

The London Daily Telegraph reports: “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. ‘A very nasty period is soon to be upon us – be prepared,’ said Bob Janjuah, the bank’s credit strategist.”

Now, I know that those of us who do not live in Great Britain won’t appreciate the seriousness of this story, but the Royal Bank of Scotland is basically the top dog in the British banking system, more so than the Bank of England, and when they say something like this, everybody had better listen and batten down the hatches.

The US stock market lost 220 points on Friday closing under 12,000 for the first time since March. Gas prices are at a record high putting a severe strain on consumers. Two-thirds of the US economy depends on consumer spending, and the oil companies are looting people’s wallets every time they fill up their tanks. Add to this the continuing subprime mortgage crisis and the continuing threat of a war with Iran, which could send gas prices to six or eight dollars per gallon.

The Telegraph goes on: “A report by the bank’s research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as all the chickens come home to roost from the excesses of the global boom, with contagion spreading across Europe and emerging markets. Such a slide on world bourses (stock exchanges) would amount to one of the worst bear markets over the last century.”

Considering some of the bad markets we’ve had over the last century, including the painful Bush Senior recession of the 1990s and the Great Depression of 1929-1941, that’s quite a conclusion. The article does not mention a war on Iran. They seem to think the world economy will collapse soon just due to years of bad fiscal policies and the continuing subprime crisis. I say again, these are not strange little scribblers hiding in Switzerland and putting out Internet newsletters to try and glom onto old people’s savings. The Royal Bank of Scotland is right at the heart of the European banking and financial world, and they are obviously on the verge of hysterics about what’s coming.

The Telegraph article continues “‘Cash is the key safe haven. This is about not losing your money, and not losing your job,’ said Mr Janjuah, who became a City star after his grim warnings last year about the credit crisis proved all too accurate. RBS expects Wall Street to rally a little further into early July before short-lived momentum from America’s fiscal boost begins to fizzle out, and the delayed effects of the oil spike inflict their damage ‘Globalisation was always going to risk putting G7 bankers into a dangerous corner at some point. We have got to that point,’ he said.”

In other words, don’t buy a new car anytime soon. Quit playing the market for a few months. Try to pay off your debts and start saving money. This may be your last chance to sell your house before the next Great Depression hits (just make sure you get cash for the house, not some lame payment deal that depends on the buyer keeping his job). We’ve been warning people for some time to get their financial act together. If you can’t buy a house near your job, buy some rural property and a used RV. You could easily be living there soon.

http://us.altermedia.info/news-of-in…html#more-3290

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2 Responses to Royal Bank Of Scotland Issues Official Warning

  1. WhiteNotGuilty100 says:

    I read something about how people are having their gas stolen right out of their tanks as their cars sit out in driveways. I hope the price doesn’t shoot up much higher.

  2. hating honkey says:

    who controls the patent office??? Big banking ? the oil companies ?? The Bank of England?? Has anyone gone thru the extensive list of alternative Inventions that don’t require Petroleum based Power sources ???? Petroleum driven Geopolitics is BULLSHIT !!! The lunar rover operates without a 110V power cord or a ptroleum fired engine supplied by control freakenomics GYPPERS !!!

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