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Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS
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Wasayo
User ID: 8077
6/28/2008 5:39 PM
Report abusive post | Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS
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Kitco Forums > The Markets > Gold discussion group
Fortis Bank predicts US Financial market meltdown within weeks...
Fortis is a large bank and insurer in the Netherlands and Belgium. It took over ABN Amro last year, together with RBS and another bank. Last Thursday, its share lost 17% because Fortis attracted foreign capital.
I was shocked when I read the following, which was brought out 4hours ago:
American 'meltdown' reason for money injection Fortis.
28th of June, 9:10
BRUSSELS/AMSTERDAM - Fortis expects a complete collapse of the US financial markets within a few days to weeks.
That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. "We have been saved just in time. The situation in the US is much worse than we thought", says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US" .
This fits in the picture, with the other press releases last week, like the short advise of Goldman Sachs and some other of the same messages last week.
Although gold has rallied a lot lost week: first thing monday morning: short Dow, long Gold?
Or will there be a rate cut, which undermines (delays) everything?
******
Original press release:
VOTRON BLIJFT AAN NA GOLF VAN KRITIEK
Amerikaanse ’meltdown’ reden geldinjectie Fortis
28 Jun 08, 09:10
door onze correspondent
BRUSSEL/AMSTERDAM (DFT) - Fortis rekent binnen enkele dagen tot weken op het volledig instorten van de Amerikaanse financiële markten. Dat verklaart volgens de bankverzekeraar de serie ingrepen van donderdag om zich met €8 miljard te versterken. „We zijn op het nippertje gereed. Het gaat in de Verenigde Staten veel slechter dan gedacht”, zegt Fortis-chairman Maurice Lippens, die volhoudt dat topman Votron aanblijft. Fortis verwacht faillissementen onder 6000 Amerikaanse banken die nu weinig dekking hebben. „Maar ook Citigroup, General Motors, er begint een complete meltdown in de VS.”
[link to www.dft.nl]
__________________
In Gold We Trust
https://www.kitcomm.com/showthread.php?t=19066 |
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locomotion
User ID: 459824
6/28/2008 6:00 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
well that can't be good -
our favorite #poster should be along directly to tell us we need to be holding cash.
peace |
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Anonymous Coward
User ID: 459822
6/28/2008 6:02 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
thats why you are being shaken down at the pump |
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Darza
User ID: 378572
6/28/2008 6:04 PM
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VOTRON TO REMAIN AFTER WAVE OF CRITICISM
U.S. 'meltdown' reason geldinjectie Fortis
June 28 08, 09:10
by our correspondent
BRUSSELS / AMSTERDAM (DFT) - Fortis expects within the next few days to weeks to complete the collapse of the U.S. financial markets. That explains the bank insurers interventions of the series Thursday at dealing with € 8 billion. "We are ready at the last minute. It goes in the United States much worse than thought, "said Fortis chairman Maurice Lippens, who maintains that CEO Votron to live. Fortis expects bankruptcies of 6000 U.S. banks that now lack coverage. "But Citigroup, General Motors, there begins a complete meltdown in the U.S.."
Fortis took yesterday € 1.5 billion with a share issue. At the end of last year was the Belgian-Dutch group € 13 billion of new shares for the takeover of ABN Amro, for which it paid € 24 billion. Lippens bases its concern on interviews with bankers. "Two months ago we knew not so bad that it is in America. And it will be much worse. We have a thick mattress needed for the next eighteen months to come when we can bring to ABN Amro. "
Two weeks ago reported the U.S. investment bank and adviser to Fortis Merrill Lynch certainly € 6.2 billion in additional capital was needed. The VEB yesterday demanded clarification of Fortis: CEO Jean-Paul Votron stopped in late april Fortis maintains that after the purchase of ABN Amro does not need on the capital market. In one year € 30 billion in market capitalization destroyed. After Votron last confession kelderde the share price by 19.4%, although yesterday climbed by 4.4% to € 10.65.
The massive unrest around the bank insurers, especially with our neighbours in Belgium as a bomb broken. While the fuss arose in the Netherlands to the limited financial world, it is with our neighbours the call of the day. Not only is the bank dominates the streetscape, but by the mokerslag for the Belgian volksaandeel are also hundreds of thousands of small investors hit hard.
All Belgian newspapers opened yesterday with real rampenkoppen, where the free fall of the bank insurers was wide coverage. 'Fortis crashes, "" Rampdag for Fortis' and' Fortis loses 5.3 billion, "opened three leading newspapers.
The panic around the group across the border so great that the national regulator CFBA has had reassuring words to speak to the desperate savers. "The emergency of Fortis is no reason to bank run and money to get off," said a CFBAwoordvoerder. "The bank complies with all legal requirements, but has itself just very sharp targets."
Maurice Lippens claims that all major shareholders yesterday "unanimously support" have pledged.
Like arrows in the Netherlands focus mainly on CEO Jean-Paul Votron, who are heavily vertild appears to have complied with the takeover of ABN Amro. But while the Netherlands in Brussels calling his bonus of € 2.5 million to be paid back in Belgium is demanding his departure.
Who makes such big mistakes, must bear the consequences and therefore resign, "said Huybregtse chairman of the Flemish federation of Investment and Investors. The fall of the share is for him a confirmation that the takeover of ABN Amro far too expensive and was poorly timed.
"The former shareholders of ABN Amro are now taking a bath in champagne", stressed Huybrechts. "Who makes major mistakes, must go. Fortis is a really volksaandeel and with confidence that you can not cope reckless. "
The Belgian newspaper the Standard is tough on the CEO: "The kredietcrisis has affected all banks, but it is no excuse. Fortis is much sharper fall, "says the commentator. "Fortis has always denied that there was still a capital increase. They were therefore either lies or ignorance. Both are equally bad, so must Votron the honour to itself. He is the only one who has earned something to the whole operation. "
According to Belgian media wanted Fortis announce Thursday that the bonus Votron would be removed, but this is at the last moment not yet happened. Also, all press speculation about his succession, with the name of Filip Dierckx.
Votron itself will of being firm. "The shareholders are behind me and also in the top of the group, I only support for this I have put in operation," said the under fire lying Fortis chief executive.
The refund of the now controversial bonus points he resolutely. "What I do with my money, my case. The bonus had nothing to do with ABN Amro, but was about the year 2007, "said Votron. The CEO is a willing part of his salary in Fortis documents.
Votron may also still rely entirely on chairman Lippens, who denies that the bank itself on the takeover of ABN Amro has completed. "Votron remains simply the CEO. At present intervention, which is difficult, that's really show leadership. " |
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Guns n' God
User ID: 275868
6/28/2008 6:04 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
 |
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Anonymous Coward
User ID: 459745
6/28/2008 6:06 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
well that can't be good -
our favorite #poster should be along directly to tell us we need to be holding cash.
peace Quoting: locomotion 459824
We need to be holding gold.
In Switzerland.
And we need to be there to watch over it.
Becuase Jumerika is toast. |
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locomotion
User ID: 459824
6/28/2008 6:24 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
We need to be holding gold.
In Switzerland.
And we need to be there to watch over it.
Becuase Jumerika is toast. Quoting: Anonymous Coward 459745
Gold is good
Definitely in for some changes -
but not toast...yet...best laid plans and all |
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acolyte nli
User ID: 308272
6/28/2008 6:35 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
Darza: Dankie vir die puik vertaling.
Wasayo: Thanks for posting this. Hmm ...remember FINCEN (wink) perhaps you should post this there also.
BARAKA BASHAD |
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Darza
User ID: 378572
6/29/2008 5:36 AM
| | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
Darza: Dankie vir die puik vertaling.
Wasayo: Thanks for posting this. Hmm ...remember FINCEN (wink) perhaps you should post this there also.
BARAKA BASHAD Quoting: acolyte nli 308272
Hi Acolyte, actually i did not translate it, it was at the link Wassayo send me by mail.
Yes i see the relation to the FINCEN post also. Myself i am not interested in money, i perceive them as a signs of the times ahead.
Banking is based on trust, not on actual value, when banks are bringing out this type of info to me this is very telling. |
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acolyte 
Beyond The Rubicon
User ID: 308272
6/29/2008 5:49 AM
 | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
Darza: Dankie vir die puik vertaling.
Wasayo: Thanks for posting this. Hmm ...remember FINCEN (wink) perhaps you should post this there also.
BARAKA BASHAD
Hi Acolyte, actually i did not translate it, it was at the link Wassayo send me by mail.
Yes i see the relation to the FINCEN post also. Myself i am not interested in money, i perceive them as a signs of the times ahead.
Banking is based on trust, not on actual value, when banks are bringing out this type of info to me this is very telling. Quoting: Darza
HI Darza, I see Omega's thread on this was pinned.
Well the illuminati certainly cares about their money and they will use FINCEN to protect their interest and assets. FINCEN is still on full alert ... don't know for how long they will remain at that status. Hopefully nothing will happen.(wink)
ps. "Bank" spelled in reverse is "Knab".(Nab) phonetically.
The Banks Knab your money lol
Enjoy your day Darza
BARAKA BASHAD |
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Anonymous Coward
User ID: 52612
6/29/2008 6:39 AM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
Watch the wardrums being beaten against Iran.
It is getting more frantic as if the criminals in Washingtons only hope is to avoid disaster by starting the Iranian attack.
Desperate people do desperate things |
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jason
User ID: 463044
7/4/2008 6:22 PM | |
acolyte nli
User ID: 308272
7/4/2008 6:46 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
FINCEN is waiting to enforce the Economic Protocols during and after a financial meltdown.
They were called up on the 16th of June already.
BARAKA BASHAD |
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Anonymous Coward
User ID: 321058
7/16/2008 10:18 AM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
yes they like to tell us the truth....
however they agenda time table is to be set at the grove
cremation of care event at bohemian grove in july this week or next... ceremony when rich white boys have their mock sacrifice to molech... they will sacrifice the economy to molech...
why are the richest people meeting naked in the bushes in northern california now? |
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Anonymous Coward
User ID: 75362
9/19/2008 10:51 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
BuMP----->for another prediction made of this meltdown. |
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Thank You!
User ID: 503371
9/19/2008 10:54 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
thats why you are being shaken down at the pump Quoting: Anonymous Coward 459822
Everyone is sinking their money into commodities futures including T Boone Pickens and we are being shaken down at the pump.... |
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Anonymous Coward
User ID: 471406
9/20/2008 3:36 AM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
 |
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Anonymous Coward
User ID: 506066
10/2/2008 12:24 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
BuMP----->for another prediction made of this meltdown. Quoting: Anonymous Coward 75362
for prediction made in June 2008 |
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Anonymous Coward
User ID: 513182
10/2/2008 12:30 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
NICE DOOM !!! |
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ExhaleAeonVolts
User ID: 444542
10/2/2008 12:32 PM
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FORTIS Bank would know for a number of reasons...
Including the fact that they are presently being Bailed Out, Too.
Angels Don't Grow on Wall Street. -E.A.V.
“Get the facts first. You can distort them later. ” - Mark Twain
Question with boldness even the existence of a God; because, if there be one, he must more approve of the homage of reason, than that of blind-folded fear.
- Thomas Jefferson |
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Wasayo nli
User ID: 2528
10/2/2008 1:11 PM | | Re: Fortis Bank Predicts US FINANCIAL MELTDOWN WITHIN A FEW DAYS TO WEEKS | Quote |
BuMP----->for another prediction made of this meltdown.
for prediction made in June 2008
Thank you, AC 506066!
The truth is that we are in for much worse financial doom, worldwide. It's really just getting started after a lull (Pluto retrograding back into Sagittarius). Come Pluto in Capricorn on 26 November 2008, the outlook is worse than grim. Hold onto your seatbelts. Wasayo |
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