Anybody here knows Jesse Ventura
Jordan Maxwell - The Dawn of a New Day (2009)
This information seems to be confirmed based on information we see all over the world.
By Tom Hals
WILMINGTON, Delaware | Mon Nov 8, 2010 6:32pm EST
WILMINGTON, Delaware (Reuters) - Ambac Financial Group Inc, which was the second-largest U.S. bond insurer before suffering huge losses on risky mortgages, filed for Chapter 11 bankruptcy on Monday.
The company, which filed in Manhattan bankruptcy court, said it had liabilities of $1.68 billion. The company's shares plummeted in after-hours trading to 20 cents, down from 52 cents at their close on the New York Stock Exchange.
Ambac faltered after it began chasing higher profits by expanding beyond municipal bond insurance and insuring riskier debt. That move backfired when the housing market crashed and credit markets tightened.
Ambac said it was unable to raise needed capital and failed to reach an agreement with senior bondholders that would have allowed it to restructure through a prepackaged bankruptcy.
A prepackaged filing allows for a speedy restructuring.
Ambac said it agreed to a nonbinding term sheet that will serve as the basis for further talks with bondholders.
"That may allow the company to emerge from bankruptcy more expeditiously," Ambac said in a statement.
With gold and silver recently hitting new highs, King World News interviewed James Turk out of Spain. James had this to say about recent developments, “Robert Zoelleck, President of the World Bank, wants to start a debate about a new international monetary system. The key quote from his article is, ‘The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.”
November 8, 2010
KWN Blog
Turk continues:
“This development is significant as officialdom is recognizing what the market has already long recognized, that the present international monetary system has a short shelf life. This is extremely bullish for gold and bearish for the dollar. It is not too surprising that the US dollar is going to lose its reserve currency status given the fact that the Federal Reserve’s actions continue to erode the dollar’s purchasing power.
If QE2 doesn’t put the final nail in the dollar’s coffin, QE3 or QE4 certainly will.”
James, it wouldn’t surprise me if we were to see silver move $3 in a single day in the near future which would get us to your $30 target.
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