FROM BANKING INSIDER:'things are much worse than anyone realized' --'If you have an IRA, 401K look for a 40% - 80% cut

FROM BANKING INSIDER:'things are much worse than anyone realized' --'If you have an IRA, 401K look for a 40% - 80% cut (depending on the financial stability institution who holds it
Steve,

Just more confirmation.
Talked to my banking contact.

He/she was called back in from vacation, no chance of vacation anytime
soon.

"things are much worse than anyone realized"

"If you have an IRA, 401K look for a 40% - 80% cut (depending on the
financial stability institution who holds it)"

My thought- They are planning how to cut out the good meat on the dead and
rotting corpse of the American economy and who gets what. And the who will
not be you and me.

"things are in a panic mode",

"I would not be surprised if we did not make it to the end of the year"

I would not be surprised if we didn't make it to the end of the summer"

When he responded to what Greenspan said about us looking like Grease and
Cypress not Venezuela, he disagreed it will be like Venezuela.

Just more up to the minute confirmation, as you have said this is not years
away but months. The final preparations for these plans are being put into
place now!