South African Reserve Bank Minister: World near a ‘Lehman-type’ repeat

By John Galt
September 28, 2011 – 09:00 ET

But don’t worry, she’s probably just another hyperventilating wanna-be BBC guest who has a book or trading site to hype if the CNBS types get their way in spinning her commentary.

From Reuters Africa:

World near a ‘Lehman-type’ repeat- SAfrica’s Marcus

(click on above to read full article)

Excerpt:

In an article in the Financial Mail magazine, Marcus said such a rapid decline bore similarities to the fallout from the collapse of Lehman Brothers in late 2008.

“The response of the markets to the glaring lack of global leadership and political will to deal with the crisis in a coherent way is indicative of how perilously close we are to another ‘Lehman-type’ moment, but without the ammunition of 2008,” she wrote.

The response from the elites and idiots on the Bubblevisons says it all:

-They belittled the trader on the BBC, Alessio Rastani, for his stunning honesty.

-David Rosenberg and Meredith Whitney are often openly mocked on and off air by the various financial “journalists” even though many of the facts they report are irrefutable.

-Rumors are now news, news is not reported,ignored, or buried on page C-17.

-Low volume rallies are reported as “real substantive moves” while high volume massive price declines are announced as “profit taking.”

Meanwhile, even more legitimate sources continue to echo Rastani and Marcus from South Africa. The former chairman of the Hungarian stock exchange and current head of UniCredit’s global securities wrote an article in Index.hu titled “The Great Bank Robbery“:

(excerpted and translated with Google translate)

The great bank robbery

09/28/2011. 10:37 – Attila Szalay-Berzeviczy, former president of the Budapest Stock Exchange

Europe’s common currency is virtually dead. The euro’s doomed situation. The only open question now is, that European governments and the European Central Bank’s desperate rearguard action even number of days to keep the spirit in Greece. For the moment, when Athens is declared bankrupt, a ten earthquake shakes the very Europe, which will be the overture to a whole new era in the life of the old continent.

Indeed, Greece is not only bankruptcy will mean that the Greek government securities holders did not get back their money invested, but also to the interior of the state will not be able to meet its debts.

The rest of it can be translated at Google Translate or I now see that ZeroHedge has the full translation at this link.

Those of us who have been warning, preaching, begging you to prepare might want to dismiss the “fringe” as a bunch of gold kooks who proclaim the end of the world is nigh. Yet in reality, the minute our warnings and opinions are validated, maybe not at the timing some of us have predicted, the world will change so drastically and rapidly that there will be no time to do anything but panic if you have not prepared your household for what is coming.

Buckle up for October as September was relatively tame compared to what is coming.

 

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  • Desertrat

    This member of the choir applauds. Just “settin’ and watchin'”

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