Bank Crises Economic Update Video

by Wes Bridel on October 29, 2010

in Economic Updates

A bank crises is brewing that could end up being worse than the 2008 banking crises.  This economic update is intended to quickly catch you up on what is happening in the banking sector that most people are ignoring to their peril.  It is part six of a six part series of Economic Update Videos.

The IMF itself recently said that trillions in new bailouts were needed by the banking sector for stability.  New banking accords in Europe were adopted, however, even though the standards are incredibly weak, very few banks can handle them and thus the standards don’t go into affect for many years.

The FDIC is broke and can’t afford to continue closing banks at the torrid pace at which it has been closing them.  But the biggest news of all is what hardly gets a peep from the press.

The foreclosure fiasco where banks were using illegal methods to foreclose on homes is unraveling a system with fraud at its core.  As it is unraveled the whole system could shut down in litigation.  People will not be kicked out of the homes they are not paying for so not only will banks not be able to liquidate these assets, but they will have to pay tremendous amounts of money to fight these cases. Maybe this will all blow over, but it very much looks like it could be the thing that next brings our fragile system to its knees.

We hope you enjoy this video.  If you have not seen The Coming Storm video, you should do so immediately to have a fuller understanding of what lies ahead.  You can do so for free by going here.

The previous economic update videos we did can be found at 1) Hyperinflation in the US?, 2) Hyperinflation signs worldwide,  3) Stock Market & Economy Update, 4) Gold & Silver, and at 5) Government Horrors.  If you are receiving this post as an email or in a reader, you might have to click the post title to take you to the internet to watch the video.  thanks for watching!

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