Monday, March 25, 2013

The Economy: "Goodnight Europe"

"Goodnight Europe"
by Karl Denninger

"It's over folks. The Euro clowns have now said out loud that the Cyprus model is how banks will be resolved in the future as a "template." Good.

Now what is Deutsche Bank's leverage ratio? The real one, not what they claim? Oh, and the rest of the banks in Europe too. How many are still running at 50:1 or even 100:1 leverage- 1-2% reserve ratios in fact despite their claims, when one looks at actual values of assets and not mark-to-fantasy and uncollateralized derivatives? That would be virtually all of them. Do you have your money in a European bank or own their bonds?

This is what is about to be done to you as demonstrated in Cyprus:
Related: “Cyprus and the Manic Media Bailout”

Any questions?

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