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Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash

 
Omega
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User ID: 357617
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06/18/2008 08:08 AM
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Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
Don't see this action often-a major bank warning of a market meltdown. YMMV. FWIW.

[link to jessescrossroadscafe.blogspot.com]
17 June 2008
Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash


The initial reaction we had was that RBS was doing some 'reverse jawboning' on Monsieur Trichet of the ECB with regard to interest rate increases. We don't follow Europe closely but we think increases by the US Federal Reserve are strong dollar fantasies for all the reasons which we've outlined in previous discussions.

Still, its rare to read such a specific prediction of a 300 point decline in the SP within three months from a 'name' banking institution which ought to be in a position to render an informed opinion.

But it does fit with our bias here to be prepared for the worst, and if it does not come, then so much the better for us all. Our outdoor activities have blossomed into a case of Lyme disease, so we'll be working lighter hours for at least the next month or so while time and the proper medicines do their work. Too bad such an effective remedy is not in the medical kit of Dr. Bernanke. Or is it?

RBS issues global stock and credit crash alert
By Ambrose Evans-Pritchard
11:44pm BST 17/06/2008
UK Telegraph

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.

Last Edited by Phennommennonn on 03/29/2012 07:59 AM
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Omega (OP)

User ID: 357617
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06/18/2008 08:11 AM
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Re: Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
Original link from the Telegraph in the U.K.

[link to www.telegraph.co.uk]
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Acro

User ID: 269684
United States
06/18/2008 08:52 AM

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Re: Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
Thanks again Omega,
Not long before the sheeple wake up huh...
Anonymous Coward
User ID: 148742
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06/18/2008 09:00 AM
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Re: Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
Here's that Morgan Stanley warning reported on Monday:

Morgan Stanley warns of 'catastrophic event' as ECB fights Federal Reserve

[link to www.telegraph.co.uk]

"The tensions will not disappear into thin air. They will find fault lines on the periphery of Europe. Painful macro adjustments are likely to take place. Pegs to the euro could be questioned," said the report, written by Eric Chaney, Carlos Caceres, and Pasquale Diana.

The point of maximum stress could occur in coming months if the ECB carries out the threat this month by Jean-Claude Trichet to raise rates. It will be worse yet - for Europe - if the Fed backs away from expected tightening. "This could trigger another 'catastrophic' event," warned Morgan Stanley.
Anonymous Coward
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06/18/2008 09:04 AM
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Re: Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
ooo they've created a self-fulfilling prophecy
A bank would never say that unless they were going to profit hugely by doing so. buy stock in those banks right now.
Anonymous Coward
User ID: 424488
United States
06/18/2008 09:09 AM
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Re: Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
This requires the often heard of, but never seen


TRIPLE DOG DARE PIN ALERT!!!!!!!
Anonymous Coward
User ID: 148742
United States
06/18/2008 09:15 AM
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Re: Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
This requires the often heard of, but never seen


TRIPLE DOG DARE PIN ALERT!!!!!!!
 Quoting: Anonymous Coward 424488


Schwartz created a slight breach of etiquette by skipping the triple dare and going right for the throat!
Irdooomed

User ID: 453862
Australia
06/18/2008 09:20 AM
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Re: Royal Bank of Scotland Warns Its Customers of a Financial Markets Crash
Omega: It's a lot worse than you think!
From:
[link to www.bloomberg.com]
Stocks, Debt Yet to Face Worst of Sell-Off, RBS's Janjuah Says

By Alexis Xydias

June 18 (Bloomberg) -- Stock and credit markets still face the worst of the slump that started almost eight months ago, according to a Royal Bank of Scotland Group Plc strategist.

An economic slowdown and inflation have put central bankers ``into a dangerous corner'' where the chance of a ``major policy error has just super-spiked,'' Bob Janjuah, a credit strategist at Royal Bank in London, wrote in a report dated June 11. A potential rally in equity indexes between late June and early July ``will be the significant opportunity this year to get short stocks,'' he wrote.

The MSCI World Index has lost 13 percent since a record in October as bank writedowns stemming from the credit turmoil approach $400 billion. The index is down 4.1 percent this month after the Federal Reserve and the European Central Bank policy makers indicated interest rates may need to increase as the threat of inflation intensifies.


Last Edited by Phennommennonn on 03/29/2012 08:05 AM
Holy cow! It's the woowoo patrol!

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