Encrypted digital currency is the only solution
In September 2008, the global financial crisis, which was considered the worst of its kind since the Great Depression in 1929, started the crisis first in the United States of America and then spread to the countries of the world to include the European countries and Asian countries and the Gulf countries and developing countries that are directly linked to the economy of the United States, the number of banks that collapsed In the United States during the year 2008 to 19 banks, and also predicted more of the new avalanches among the US banks of 8,400 banks.
It had stages since its outbreak
August 2007: Non-payment of mortgage loans (granted to debtors with insufficient repayment capacity) has intensified in the United States and caused the first bankruptcy in specialized banking institutions. August 2007: Stock markets are deteriorating against the risk of crisis expansion, and central banks intervene to support the liquidity market. October 2007 to December 2007: Several major banks announce a significant drop in their share prices due to the subprime crisis. January 2008: The US Federal Reserve cuts its key interest rate by three quarters to 3.50%, an exceptional measure. And then gradually reduced to 2% between January and the end of April. February 17, 2008: The British government nationalizes the bank "Northern Rock" March 2008: Central banks join forces to deal with the market again. March 2008: JPMorgan Chase announces September 7, 2008: The US Treasury Department puts Freddie Mac and Fannie Mae into two trusteeships throughout the period they need to restructure their finances. , With the guarantee of their debts up to the limit of $ 200 billion. September 15, 2008: The Lehman Brothers business bank is looming as one of the leading US banks, Bank of America, is buying another bank on the Wall Street, Merrill Lynch. Ten international banks agree to set up a $ 70 billion liquidity fund to meet their most pressing needs. Urgent, while central banks agree to open areas of credit. The US Federal Reserve and the US government are actually faking the world's largest insurer, AIG, which is threatened with bankruptcy by giving it $ 85 billion in aid for 9.79 percent of its capital. September 17, 2008 , 2008: World markets continue to deteriorate and credit weaken in the financial system. Central banks are stepping up operations to provide liquidity to financial institutions. September 18, 2008: British bank Lloyds TSB buys rival HBS, which is threatened with bankruptcy. US authorities announce it is preparing a plan worth 700 billion dollars to rid banks of their assets can not September 19, 2008: US President George W. Bush calls for "immediate action" on a bailout plan to avoid a worsening crisis in the United States. 23 September 2008: The financial crisis overshadows the discussions at the UN General Assembly in New York. Stalling on the plan September 26, 2008: The share price of Belgian-Dutch banking group Fortis collapsed on the stock market due to doubts about its ability to meet its obligations. In the United States, JPMorgan buys its rival Washington Mutual with the help of the federal authorities. September 28, 2008: The US bailout is agreed in Congress. In Europe, Fortis is being floated by the authorities of Belgium, the Netherlands and Luxembourg. In Britain, Bank Bradford and Bingley were nationalized. September 29, 2008: US House of Representatives rejects rescue plan. The Wall Street stock market collapsed a few hours after the European bourses fell sharply, while interest rates among banks continued to rise preventing banks from refinancing themselves. Citigroup announced that it is buying rival Wachovia Bank with the help of federal authorities. : US Senate approves revised financial rescue plan
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