Consider that one year ago RBS paid $100bn for ABN Amro. That seemingly impossible amount would now buy:
Morgan Stanley $10.5bn
Goldman Sachs $21bn
Merrill Lynch $12.3bn
Deutsche Bank $13bn
And still leave $8bn change……with which you would be able to pick up GM, Ford, Chrysler and the Honda F1 Team.
I am not sure where this original data came from but I just received it from a colleague and it seems pretty accurate… and scary because I think this global financial crisis (or GFC as it is increasingly being called) is just getting started. Depressing sure but better to know and be prepared…
I am suggesting people should consider buying gold.