The Phaserl


Top Bankers Warning Coming Default will be Catastrophic

from Off Grid Survival:

Some of the world’s top bankers are warning of “catastrophic” consequences that could start as early as next week should the government default on its debts.

Deutsche Bank chief executive Anshu Jain said, while speaking at a conference hosted by the Institute of International Finance in Washington, “This would be a very rapidly spreading, fatal disease.” He warned that the consequences of an American default would be “utterly catastrophic,” and would plunge the world into at the very least another recession.

As we reported earlier this week, banks around the country are starting to stockpile huge amounts of paper currency in fear of a major run on U.S. Banks in the coming weeks.

On Saturday, JPMorgan Chase chief executive Jamie Dimon confirmed the stockpiling of cash, when he said banks are spending “huge amounts” of money and making “enormous preparations” preparing for the possibility of a default.

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2 comments to Top Bankers Warning Coming Default will be Catastrophic

  • Hoser

    Catastrophic? BULLSHIT!

  • Frank Zak

    Did you know the gold supply shortage
    is over 200 tonnes a month ? That the ETF’s and
    bullion banks will near total exhaustion
    in the next 2 years by selling this physical
    to make up for this shortage ?

    Any bank, or country, short gold, will likely go
    bankrupt. Trillions of $’s in paper gold will
    be worthless.

    Not to worry, SGT people will become rich.
    This is the great secret of our generation.


    Does this mean the SGT people will fund the banks
    of the new world order after the crash with thier gold stash ?

    Put on your bankers hats people. You are about to become
    the new Rothschilds of our age. grin

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