IMF warns of financial meltdown - Eurozone Strengthens, U.S. Dollar Weakens

The IMF sternly warns that the global financial system is on the brink of a massive meltdown, while France and Germany push ahead with a pan-European crisis response to try to prevent the worst global downturn in decades. Expect the Eurozone to strengthen and dominate the global financial world. What can one do in such perilous times other than buy gold and invest your savings in Euros before the dollar becomes obsolete. While the dollar is high, get out while the getting is good and buy gold or Euros! http://www.bullionvault.com/#paulfdavis http://ads.easy-forex.com/Gateway.aspx?gid=104994 International Monetary Fund stressed that time was running short after leading industrialized nations failed to agree on concrete measures to end the crisis at a meeting on Friday. Intensifying solvency concerns about a number of the largest U.S.-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown. IMF chief Dominique Strauss-Kahn doesn't give the world much hope. Low levels of confidence in America's financial system has caused widespread panic to swiftly sweep through global markets, driving stocks to a five-year low on Friday and prompting banks to protectively hoard cash. That has devastatingly choked off lending to businesses and households, threatening to turn a global economic recession into a dangerously deep depression for perhaps years. Many across America are losing their homes, as is now the case in Australia. While the dollar is high, get out while the getting is good and buy gold or Euros! http://www.bullionvault.com/#paulfdavis http://ads.easy-forex.com/Gateway.aspx?gid=104994 An emergency meeting of euro zone leaders on Sunday will discuss a bank rescue package. Britain's rescue plan, launched last week, makes available 50 billion pounds ($86 billion) of taxpayers' money for injection into its banks and, crucially, calls for underwriting interbank lending, which has all but frozen around the globe. In a surprisingly brief statement after a 3-1/2 hour meeting, the G7 -- the United States, Britain, Canada, France, Germany, Italy and Japan -- stopped short of backing the British interbank lending guarantee, something many on Wall Street saw as vital to end growing market panic. Expect markets to be very disappointed on Monday. European Central Bank President Jean-Claude Trichet is taking time to digest a series of dramatic steps taken by world central banks in recent days, before making a move to protect the Euro and Eurozone. There are signs the U.S. economy is credit-starved and deteriorating fast. American auto makers have been hammered by the credit crunch. GM and Chrysler, two struggling auto makers, are considering a merger to secure cash and cut expenses. GM is preparing to approach the U.S. Federal Reserve about borrowing money directly from the central bank. Many wonder just how many companies and banks the central bank in the United States can bail out before going bankrupt itself? Some speculate the FDIC insuring American banks deposits will declare bankruptcy next. What can one do in such perilous times other than buy gold and invest your savings in Euros before the dollar becomes obsolete. http://www.bullionvault.com/#paulfdavis http://ads.easy-forex.com/Gateway.aspx?gid=104994 While the dollar is high, get out while the getting is good and buy gold or Euros! http://www.bullionvault.com/#paulfdavis http://ads.easy-forex.com/Gateway.aspx?gid=104994


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What can one do in such perilous times other than buy gold and invest your savings in Euros before the dollar becomes obsolete. While the dollar is high, get out while the getting is good and buy gold or Euros! http://www.bullionvault.com/#paulfdavis http://ads.easy-forex.com/Gateway.aspx?gid=104994 International Monetary Fund stressed that time was running short. www.PaulFDavis.com

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