Monday, 19 January 2009
RBS Meltdown

If you read my last article where I predicted the banks must be in a lot more trouble, more trouble than we could ever imagine. If you have seen the headlines this evening you would probably have noticed I was spot on! It looks like RBS's 45 billion pound debt (the GDP of Croatia!) has basically rendered the bank "technically insolvent" according to several news sources. What I find disturbing is RBS has warned that there could be worse to come,l just how deep does the rabbit hole go?

If the government is bailing out banks like its no tomorrow they are obviously going to need more cash, how much longer will it be until the government starts printing more money to cover these debts?

posted on Monday, 19 January 2009 20:17:19 (GMT Standard Time, UTC+00:00)  #    Comments [0]