Staring into the abyss ?

An interesting read : "The Coming Collapse of the Modern Day Banking System".

Britain's Peter Spencer issued a warning on Saturday : "The Government must suspend a set of key banking regulations at the heart of the current financial crisis or risk seeing the economy spiral towards a future that could make 1929 look like a walk in the park."

More on : http://www.counterpunch.org/whitney12172007.html.

True or false ? Nervousness is rising, and don't you believe all the reassuring chatter of (central and other) bankers. Just observe the markets. Not many good signs to be seen right now - code red all over ? I wouldn't bet on a collapse yet, but I am getting worried about my pension !