Mounting Euro Breakup Risk Seen by Banks

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Mon, 11/28/2011 - 14:32 | 1921644 AndrewCostello
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It's a given that we will sink into depression and the paper currencies will collapse.  People should be concentrating on what they will do when that happens.


Check this out:

Mon, 11/28/2011 - 13:36 | 1921441 LawsofPhysics
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"For the first time since at least 2003, investors are fleeing the euro for currencies of countries that don’t depend on international capital markets to finance their budget deficits."


At the end of the day, isn't that pretty much every single government on the planet, or does pivotfarm still believe in the infinite growth model in the finite world?

Mon, 11/28/2011 - 11:58 | 1921051 Georgesblog
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This looks like a perverse game of Tetris. The next block to drop may not fit anywhere. There is no "Continue" option in this game.

Mon, 11/28/2011 - 11:03 | 1920844 apberusdisvet
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The 2% ceiling for the gold manipulators will not be breeched today, as usual.  The transparency is excellent; unlike in every other market move.

Mon, 11/28/2011 - 10:52 | 1920812 daxtonbrown
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I don't see how the game of 'kick the can' ends well for sovereign and bank debt unlss there really is a Santa. Consumers haven't appreciably deleveraged either according to the Blackl Friday sales figures. The media still puts out this baloney that there are signs of recovery, which may be the case superficially, but not one problem has been solved. The Super Committee couldn't even cut a lousy $trillion when they needed to cut at least $15 trillion over the ten years.  Everyone appears to be getting ready to party on like it's 1929.

I think given the fundamentals, that the smart thing to do is keep hunkering down and Go Galt.

Mon, 11/28/2011 - 10:47 | 1920788 xcehn
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Desperation: “The markets are being driven by good numbers out of the U.S. for Black Friday,” said Nic Brown, head of commodities research at Natixis Commodity Markets Ltd., referring to the day after the Nov. 24 Thanksgiving holiday. “It certainly appears that Europe is getting more serious in its consideration of closer fiscal integration.”

Mon, 11/28/2011 - 11:18 | 1920889 s2man
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And I am getting more serious in my consideration of marrying Pamela Anderson.

Mon, 11/28/2011 - 17:34 | 1922879 URZIZMINE
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Or possibly Palmala Handerson.

Mon, 11/28/2011 - 09:31 | 1920509 Escapeclaws
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They're following their leaders behind them.

Mon, 11/28/2011 - 13:53 | 1921511 Popo
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On my small handheld screen I read the title of this post as:   "Morning Euro Breakup Risk Seen by Banks".


Sigh.  First time I've been happy in days...

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