Subject: The WORLD'S OLDEST BANK is on the Brink
The European financial system is a mess. It has been a mess for a
very, very long time but they've been able to put "Lipstick on the
Pig" and delay the gory end.
But cracks are forming all throughout the Euro zone as we approach
the end of the year ..."Lipstick" can only go so far before it starts
to smear :)
Monte Paschi Shareholders Delay Cash Call, Top
Executives May Resign
"The world's oldest
bank needs to tap investors for cash to pay back 4.1 billion euros in state aid
it received earlier this year and avert nationalization after being hammered by
the euro zone debt crisis and loss-making
derivatives trades."
END
And Monte Paschi is not alone. Not by a long shot. Derivatives are
ripping the guts out of the European financial Ponzi Scheme and the people of
Europe better get their cash out NEXT WEEK or they may end up like those poor
souls in Cyprus.
A few things to think about as Europeans try to shift their assets
out of their banking system and into...????
1) They will first look at physical gold but China has already
sucked the exchanges dry.
2) They will next look at Silver but the competition between
Industrial Users and the lowly investor for any physical silver will turn into
an intense bidding war.
3) Bitcoin was a good option in Cyprus so the same may occur in
the whole of Europe but I don't think it is possible. There are NOT enough (if
any) willing sellers of Bitcoin left after the Banks scared large speculators
away over the past few months...watch for more Bitcoin pricing drama in the
very near future...January?!
4) European derivative defaults will spread as each of the big
European banks loaded down with toxic derivatives topple and default on their
half of the toxic transactions.
5) When Europe goes it won't take long for the disease to spread
to other financial systems...EVERYWHERE!
Be ready for blood in the streets as the Banksters try to eat
their own in order to survive.
May the Road you choose be the Right Road.
Bix Weir
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