Sunday, December 29, 2013

The WORLD'S OLDEST BANK is on the Brink

Date: Sat, Dec 28, 2013 at 3:48 PM
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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