September 24, 2008

Money Markets In Absolute Turmoil Wednesday; Described by experts as being "seized up"

As I warned yesterday, the markets are not safe and today's turmoil in the Money Markets proves me right.

Banks are not lending to each other and in the rare case that they do, the rates they are charging are exorbitant. Credit is almost completely unavailable now.

If this persists, and it is likely to do just that, the economy will simply stop as businesses are unable to fund payrolls, fund raw materials for manufacturing, fund inventory re-stocking.

We are so close to absolute financial collapse that I cannot tell you strongly enough: GET OUT NOW.

Details Here