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!!!!!