Insider Warns Credit Market Is Shutting Down, $75 Trillion Implosion Looms
Silver doctors -
A real crisis is developing far faster than what I envisioned that is impacting the 75 Trillion Shadow Banking sector which is on the verge of implosion.
Credit markets are almost closed, I am being told! I REPEAT again the CREDIT markets are almost closed!
The following is chilling to say the least:
Submitted by Bill Holter, JSMineset:
Often times I like to write about an event or someone else’s article because of the importance to the overall picture. Today I will do something a little different. Below is an e-mail I received last Thursday from a friend. I have the utmost respect for his thought process and his knowledge. The writer is “plugged in” if you will, he has very high and powerful contacts in both China and London while he operates out of North America. The following is chilling to say the least because it comes from someone who “knows”, it is not a speculation on his part because he is seeing it real time! I will add my comments afterward.
“I have been pounding the drum for some time about shrinking liquidity and what the impact will be. Well, I can tell you that we are almost there and a real crisis is developing far faster than what I envisioned that is impacting the 75 Trillion Shadow Banking sector which is on the verge of implosion. Focus on Europe as the real crunch will spread like a wildfire from there seizing up all credit markets.
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Whistler Blowers, Insiders
change is the the only constant
we need a new system with real values
no money no stock market
And No Banks.
Not being a banking “insider”, I find a useful measure of the availability of credit is the number of interest-free credit card offers I get in the mail. When things are tooling right along that can be two or three each day. When credit tightens the number goes down. At this point I don’t think I’ve seen one for weeks. In fact, one bank sent me a letter saying they were closing one of my credit cards because I hadn’t used it for two years. Now that’s a shrinking credit market.
I have never thought about that. Good point. Same here.
mitchy, you’re sounding almost sane today…what up…no whiskey?
Yeah I used to get those all of the time and now I rarely do despite having a credit score of 720 last time I checked. I’ve never actually used a credit card once in my life though.
China’s plunging into stock market hell and no one’s concerned about them trying to collect on US debts to save their markets ? what if US says no? ww3?