As The French Bank Runs....

Reggie Middleton's picture

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chinawholesaler's picture

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web bot's picture

Exiting the middle game and entering the full blown end game.

This ain't going to be nice...

Spirit Of Truth's picture

Of course, the elephant in the room is that U.S. money market funds are hip deep in EU bank debt.

MFL8240's picture

No problem, they can print more and refill the tank.

Zero Govt's picture

Think a year or two past the Fed printing yet more and refilling yet another tank running on empty (bankrupt).. in that near-future Benny will be signing his resignation and The Fed will be on its suicide note

Trust me on this one, The Fed are teetering on a knife edge here with QE1, Lite and QE2 seen as 3 total failures... anymore counterfeit money printing and the Fed is dead, and they know it ...if QE3 gets rolled out Rothchild will have to create another central bank in the seared ashes of his last play-thing

irishlink's picture

SOCGEN  ceo just announced that Greece is not a problem for them!!!! Time for the French Citizens to check their deposit accounts?

falak pema's picture

they are de facto backed by bank of france...that is by our problem, we bend over backwards to save these banks.

Zero Govt's picture


bring on Eric Cantona for a 2nd attempt ...should work this time

JW n FL's picture



In other words it’s all very well selling off legacy assets, and depending more on secured USD funding (repos) but that sort of strategy only really works providing you have a large amount of short-term high-quality liquid assets to pawn to begin with.

Reggie's Not! a Star!

Reggie's Got! a Choppa in da Car!

Reggie! the banks thought they were bullet proof until they got hit the 5th time.. HUHHHHHHHHHH!

PulauHantu29's picture

Bank runs like Diarrhea....running all the time.

DoChenRollingBearing's picture

Maybe it's the coffee they drink over there...

falak pema's picture

france and Italy only believe in five legged beasts; with the government stamp on their rumps. Its the hallmark of respectability and it has to be conceived by an "enarch", the best and brightest from the state elitist administration school.

Jerome Kerviel is now the icon who represents how french banks are run. He, low echelon trader turned Madoff type rogue, tried to outsmart those high paid shills running Soc Gen's trading algorithms; 'La crème de la crème' like Abacus shill, Tourre.

French Madoff representing the french version of WS type ponzi. His ham handed play now looks like wizardry when compared to Soc Gen's superior play in Sovereigns...But France, that is us the tax payers, we will be asked to pay the bill, eventually. Wherever we may live we pay for France at home.

Léonard's picture

Why don't we speak about the desastrous situation of the English and American banks and California debt (13% of the GDP against 2% of the GDP of the Eurozone for Greece) ?

The USA and the US dollar are the real ones to get tossed, not the Euro. Everybody with a brain knows that.

richard in norway's picture

well it was always a question of who would crack frist, i expeced that a us state would go belly up before greece, but i was wrong, so far

walküre's picture

Without a FED that can print into oblivion and goes unaudited, the US States can live as long as their masters let them live.

Doesn't matter that majority of people in many states are dumber than a sack of shit and their productivity is worse than Kenya.

Zero Govt's picture

You can put off the truth, but you cannot hide from it.

No amount of Fed counterfeiting, politicians lying, banks, accountants and regulators sleight of hand will stop the rot that's set-in past 30 years (Reagan and Thatcher ceeded money creation to the retail bwankers)... or the inevitable collapse of this fake, corrupt house of cards

It was sort of nice while it lasted but the Mother of all credit creation schemes/scams was always going to end in the Mother of all credit card collapses... real wealth and real productivity cannot be produced by the charlatans (banker-politicos) in society running around with credit cards ..all ponzi schemes fall off a cliff eventually

walküre's picture

Because my French ami, the Anglo-Americans are the pirates that are currently looting the world markets again.

Rothschilds and Windsors are the unholiest alliance ever contrived.

Neither the French nor the Germans could beat them. Maybe the Russians and Chinese have better luck.

Americans MUST realize that it is the Windsors and the banking cabal that is running their country.

baltbear's picture


a. there are ruff mechanisms in place for muddling through some of that;

b. there's no snark appeal in in self-criticism.