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Bridgewater Associates Gives Apocalyptic Warning on Credit Crisis

"Bridgewater Associates has issued an apocalyptic warning to clients that bank losses from the worldwide credit crisis may reach $1,600bn (£800bn), four times official estimates and enough to pose a grave risk to the financial system....The International Monetary Fund has estimated bank losses of roughly $400bn. A chunk has already been covered by fresh infusions of capital, allowing the lenders to continue lubricating the global financial system without having to squeeze credit too hard.....If Bridgewater is anywhere near correct, governments alone have the wherewithal to rescue the system. This would mean the de facto nationalisation of the banking systems in the US, Britain and Europe."

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/...

Original Leak (In German) Here:
http://www.sonntagszeitung.ch/home/artikel-detailseite/?news...



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only disagreement with me is

only disagreement with me is there estimate is to low... it will end up being much higher...

as for me and my home, we shall worship the LORD

a huge bump

Thank you for finding this info......

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Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

the last sentence

" the de facto nationalization of the banking systems in the US, Britain and europe" I think we all know what that would mean.

Yes, Ambrose (the economics writer at the Telegraph who got

hold of the leaked alert) usually doesn't shy from filling in blanks but he's left it at that. Also, the comments section isn't open on that story or wasn't when I posted it yesterday. I enjoy reading the comments from Europe on the fix we are all in :(

Is that good?

Why do I get the feeling it's a bad thing? Could it lead to coining our own real currency?

It means

We all get to pay for this fraud, and our children and grandchildren