Back on Wednesday, May 21, 2008, at 1:48:50 PM EDT, I received inside information from a contact inside the federal reserve bank who gave me a chart from the Federal Reserve Board of Governors.
When I published the chart, I warned it indicated that before the end of 2008, all the money that could be lent, would have been lent, leaving no more money for banks to lend.
Here is that chart: (Click the chart to enlarge it)
Naturally, my critics jumped all over me saying I was mis-interpreting the chart; that I didn't know what I was talking about, blah, blah blah.
Here we are, at EXACTLY the time frame I warned about, and what are governments all over the world talking about? "Re-capitalizing banks." You know, giving them more money to lend!
Once again, my analysis of the financial markets was spot-on. Once again, those who doubted me and those who criticized me were totally wrong.
I thought it worthy to remind everyone.
