Date: Sat,
Dec 28, 2013 at 3:48 PM
Subject: The WORLD'S OLDEST BANK is on the Brink
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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