Opinion » Readers feedback

Andy D: US banks to go bankrupt soon

Dear Editor:
 
There is a very great chance that there will be a run on major US banks by depositiors sometime this or next year. There is no way that the banks can cover their liabilities. The only way the FDIC can cover depositors' claims is through the Federal Reserve bank  printing tons of fiat dollars. This will be one of signals for the beginning of the end of the US economic and military power.
 
To add to the problem, the Japanese are no longer buying US treasuries to finance the ever balloning US trade deficits. How long before China or the Arabs do the same? The hand writing is on the wall for the US and the world. I think it's time to pull the plug on the US.
 
The US invasion of Iraq was a desperate effort to secure oil and maintain the fiat US dollar as the world's reserve currency. With the Iraqis tenaciously resisting America's efforts to dominate them and with Americans becoming increasingly opposed to Bush's insane war policies, Bush will not succeed. Nor will Kerry or anybody else in the US. Withdrawl is the only option sooner rather then later.
 
Expect much turmoil in the world stock and commodity markets in the coming months as people grab for anything of tangible value as paper money becomes worthless especially in the USA.  Survival will the primary concern of the masses.
 
There are no quick solutions to the problems facing the world. Demographers claim planet earth will be inhabitat by 9-10 billion people by 2050. Oil geologists and others on the other hand claim that there will be only 2 billion inhabitants at that time. I believe the geologists.
 
Andy D.