Rumor Mill News

April 20, 2008

Oswald Gruebel, well known ex CEO of Credit Suisse Bank, confirms in an interview given to the Swiss Newspaper “Sonntagsblick” that the World Financial System was sharply near to a collapse Mid March when Bear Stearns collapsed. Without intervention of the Central Banks, the System (sic PONZISCHEME)) would have not survived. He compared this moment with the CUBA Crisis. As I can see, it is the first time that an insider spoke so clearly about the dramatic situation of our days. One Bank collapsing, he aded, and the whole system will crash.

Meanwhile we hear that the Bank of England has to pump in 50 Billions Pounds this week, the Swiss Central Bank has to pump in 6 Billions Swiss Francs, and that Credit Suisse will present this week a quarter year loss of 2 Billions and write offs (sic losses) of 6 Billions Swiss Francs. Royal Bank of Scotland is trembling alo. etc.

Not to forget that the year has still 9 months to go (under).

News article in German



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