GOVERNMENTS AGREE TO NATIONALIZE 100% OF FRENCH/ BELGIAN BANK DEXIA
Morgan Stanley, Goldman Sachs, Bank of America, JP Morgan, and major French banks can all breathe a collective sigh of relief right now, as Reuters has confirmed that 100% of Dexia Bank has been nationalized by Belgium and France- extending the life of the TBTF's holding massive amounts of Dexia debt.
Forget the good bank/ bad bank that was rumored yesterday as the solution- France and Belgium have nationalized 100% of Dexia, meaning IT WAS ALL BAD BANK!
The "solution" merely transfers the bad debt from Dexia's balance sheet to that of France and Belgium.
It does however buy additional time before the end-game complete global fiat collapse. Rather than Dexia's collapse triggering a global contagion tomorrow, we now have to watch France due its best impersonation of Greece over the next 3 years.
FUK US PIIGS!!
QE TO INFINITY.....AND BEYOND!!!!!
10 comments:
waiting for Bernake's QE3
ok... so basically I got a few years at most to get more Silver? If so nice... it's not so easy buy things while being 17 and without a job(cause it's almost impossible to get one)...
Its not the PIIGS that is FUK US but Blythe and Co.,time for some charges to laid including insider trading,fraud,theft,purgory,etc.
That was a hell of a can kick!
EU and US need to print much more money
During the 1980's & 1990's countries like Argentina defaulted. The only thing that happened was rewriting the loans until the World Bank forgave them.
What needs to be done, is to make white collar crime have longer prison sentences with no parole. And to impeach politicians that do not perform according to their constituents majority consensus.
The market will rally briefly because of this and then resume its slide
So what instead of next year we're looking at 2014 or 2015?
Yes, of course ... force feed all the spoiled gruel to the French and Belgian People! Let it sicken THEM!
This means they have shot the final bullet before they get to the chamber labled EASING. The next step is a full French downgrade, and the European version of Quantitative Easing. It is a race to the bottom, and it looks like the EU may beat the US by just a hair, if only because Germany is about sick of bailing out other countries.
This is a positive thing. They nationalized the 2.9 trillion in derivatives. They will print their way deeper now.
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