What Citigroup thinks about the bailout

Hint: Buy gold, or ammo, or cigs or something because your dollar will be shit and your neighborhood may be worse. According to Telegraph (UK online), an internal client note from Citigroup was described as:

The bank said the damage caused by the financial excesses of the last quarter century was forcing the world’s authorities to take steps that had never been tried before.
This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.
“They are throwing the kitchen sink at this,” said Tom Fitzpatrick, the bank’s chief technical strategist.
“The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed though into an inflation shock.

Consider this nothing more than a heads up for ya because I’ve more important things to do right now; I’m going back to play with my grandchildren.

Little Man and his first skateboard.

Lil' Man & Alaina Michelle vie for the star. Thankfully, MiMi already topped the tree with a bow.

~ by Miche on November 29, 2008.