If we reverse the flow of gold out of the markets, we may be able to prevent a disaster from occurring.
With so many people looking to moves in credit markets and trying to determine how successful an auction has been, I thought it would make sense to go through some examples of how credit trades.
Asides from giving Ponzi a bad name (at least until the ECB just admits that they are printing faster than even Big Ben) this is tying the banks and the countries ever closer.
In the end, this won’t do much for the sovereign debt market, but will shine a spotlight on which banks should be shorted and will possibly expedite their default.
BBC Documentary about the demise of The Royal Bank of Scotland.
To secure its privileges and tax favoritism, the financial sector opposes government power to tax or regulate. Fighting under the banner of “free markets,” it is now fighting to centralize economic planning power in Wall Street, the City of London and other financial centers.
Paul Brodsky thinks our credit system is so far out of control that it will cause a massive – and largely unavoidable at this point – devaluation of the US dollar (and most other fiat currencies, as well).
Notes From Deutsche Bank Research (17 October 2011).
Unless something changes in the next 24 hours, I expect we will hear more and more talk about default, not only of Greece but of other countries and of banks.