• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Bring Out Your Dead - UBS Quantifies Costs Of Euro Break Up, Warns Of Collapse Of Banking System And Civil War

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 09/05/2011 - 20:30 | 1636467 Bobbyrib
Bobbyrib's picture

The dollar?

Mon, 09/05/2011 - 20:33 | 1636478 knukles
knukles's picture

Think PPT type shit; you know, the ECB, etc., etc., etc.....

For Christ's sakes, the EU and Euro will not make it. 
Their "leaders" are effectively bankrupting the populace trying desparately to keep some fantasy alive.  Their actions, resulting in immense social-political-economic disloctions and costs are Criminal!
Let the damned thing go and get back to some semblance of reality.

Mon, 09/05/2011 - 20:25 | 1636433 LongBalls
LongBalls's picture

If you are German and read ZH get this out to your fellow countrymen. You have a chance if they are considering it. LEAVE the EURO NOW! Escape the Central Banking debt currency system and start over with sound money.

Mon, 09/05/2011 - 21:18 | 1636674 Robot Traders Mom
Robot Traders Mom's picture

Here are the two problems. One, we have all of their physical gold and they won't be getting it back anytime soon to back a currency. Two, So much money would plow into the German Mark and they would have massive inflation due to currency strength and their exports would slow to stand still speed-kind of like what we are seeing with the Swiss right now...

Mon, 09/05/2011 - 23:18 | 1637003 trav7777
trav7777's picture

gold, schmold, they can back it with Benzs.

Tue, 09/06/2011 - 00:04 | 1637095 Snidley Whipsnae
Snidley Whipsnae's picture

Currency controls... get ready for them...coming to a currency near you.

Tue, 09/06/2011 - 06:13 | 1637589 richard in norway
richard in norway's picture

a strong currrency results in low inflation but screws your exporters, but god is it good to travel with a strong currency. here in norway i'm dirt poor but every time i travel to europe i can lord it over all the peasents

Mon, 09/05/2011 - 20:25 | 1636438 CHARLIE.DONT.SERF

slow motion train wreck proceeding inexorably forward.

Mon, 09/05/2011 - 21:00 | 1636589 Hulk
Hulk's picture

Tip of the Cow catchers just now touching...

Mon, 09/05/2011 - 21:19 | 1636680 takinthehighway
takinthehighway's picture

It'll look something like this...


Mon, 09/05/2011 - 21:36 | 1636737 Hulk
Hulk's picture

Just the slighest "shit" out of the guy, just before impact!

Mon, 09/05/2011 - 21:57 | 1636805 mt paul
mt paul's picture



Mon, 09/05/2011 - 20:25 | 1636440 Rogue Economist
Rogue Economist's picture

The Party is OVAH!


Mon, 09/05/2011 - 20:26 | 1636441 Mad Marv
Mad Marv's picture

Things just keep ramping up exponentially.  I'm ready for the friggin re-set already! 

Mon, 09/05/2011 - 20:26 | 1636444 MoneyWise
MoneyWise's picture

"Warns Of Collapse Of Banking System And Civil War "

I'm thinking how far people can actually go to make money?

What collapse? what crisis? where are you living?

In USA retail stores are f*cking packed.

I should say Biz. are booming,

that's almost right terminology.. Where you, f* outer space

aliens came from? I guess any story to make your hit counter

spin is good???..

It's not wise to make money off the sick people. :)

Doom heads! Check your local Shopping mall.. Crisis my A$$!!!

Mon, 09/05/2011 - 20:37 | 1636497 silvertrain
silvertrain's picture

Thats not enough for a system that needs more and more growth to survive..This monster likes to eat..

Mon, 09/05/2011 - 20:39 | 1636506 brew
brew's picture

you'll like this better... Jim Cramer 


RT No need to panic. But no need to buy. If you have good yielders you are safe. But banks and tech will be terrible....Cyclicals, too...

Mon, 09/05/2011 - 22:30 | 1636892 DeadFred
DeadFred's picture

Talk about space aliens!

Mon, 09/05/2011 - 20:41 | 1636516 kahunabear
kahunabear's picture

Ha, yes, what better evidence is there of a productive economy than full shopping malls. We produce debt laden shoppers better than anybody!!

Mon, 09/05/2011 - 21:28 | 1636712 Prometheus418
Prometheus418's picture

You are aware that in all the finest zombie movies, the risen dead congregate at retail establishments, right?

Mon, 09/05/2011 - 22:32 | 1636897 Everyman
Everyman's picture

I can only give you one green.  You deserve many for that.  Zombie banks indeed.  "Just don't go near the damn mall and you will be OK."

Tue, 09/06/2011 - 00:08 | 1637105 Snidley Whipsnae
Snidley Whipsnae's picture

Prom... I believe that the zombies in 'Night of the Living Dead' congregated in a farm house...

For a change of pace someone should make a vegan zombie movie.

Tue, 09/06/2011 - 00:35 | 1637168 topcallingtroll
topcallingtroll's picture

I am thinking of an asian zombie movie

Or maybe islamozombie film

Yeah what would a Hindu undead zombie crave?

Tue, 09/06/2011 - 03:13 | 1637418 Manthong
Manthong's picture

A little curry liver tartare served at 98.6 degrees F mignt be a nice start.. maybe with a side of humus.

Tue, 09/06/2011 - 08:28 | 1637764 Zero Debt
Zero Debt's picture

One retail zombie movie please, put it on my zombie bank credit card, thanks

Mon, 09/05/2011 - 21:41 | 1636751 Ned Zeppelin
Ned Zeppelin's picture

Checked mine, it was empty, and there are lots of vacant stores. Are you blind? Maybe you live in Connecticut. 

Mon, 09/05/2011 - 23:03 | 1636969 Bring the Gold
Bring the Gold's picture

No fucking kidding I was thinking the same thing. He must live eyeball deep amongst the parasite class.

Mon, 09/05/2011 - 22:02 | 1636820 kito
kito's picture

@moneywise---all of a sudden the malls are an accurate gauge of an impending global default based on massive govt debt and banking liquidity issues???? 

Tue, 09/06/2011 - 01:07 | 1637243 sun tzu
sun tzu's picture

Didn't you know that debt defaults can't happen in Europe if the malls in America are packed?

Mon, 09/05/2011 - 23:02 | 1636962 Bring the Gold
Bring the Gold's picture

This is one of the most ignorant comments I've seen on this site. Go pitch the blue pill elsewhere shill and/or denialphillic asshole.

Tue, 09/06/2011 - 08:19 | 1637714 DosZap
DosZap's picture

Money Wise,@20:26,

Where do you live in US?, I am in Texas and a well offf area,and the local malls are almost like Zombie Towns.

Only on weekends are there any cstomers where they were packed every day.

People here are buying only what they need, not wants.Like I said this one of the top 3  counties in Texas................income wise and business wise.

Mon, 09/05/2011 - 20:27 | 1636445 jules from aus
jules from aus's picture

Michael Stipe had an authorative piece on this scenario some time ago:


Mon, 09/05/2011 - 20:27 | 1636446 navy62802
navy62802's picture

Wait, UBS admits that breaking up the EU would kill UBS? I'm in ... as long as the US can get its money back. But I doubt that's the case. Even so, I'm in because that would mean UBS wouldn't exist to steal our money in the future.

Tue, 09/06/2011 - 21:46 | 1640468 Religion Explained
Religion Explained's picture

wtf do u mean, "... as long as the US can get its money back." Stay quiet fool.

Tue, 09/06/2011 - 22:19 | 1640589 navy62802
navy62802's picture

correction - "as long as US taxpayers can get their money back ..."

Tue, 09/06/2011 - 22:49 | 1640669 Religion Explained
Religion Explained's picture

Still sooo wrong. Your correction is again incorrect because it infers that UBS stole taxpayers money. That's what our government does, UBS prevents the theft in the first place.

Mon, 09/05/2011 - 20:28 | 1636449 Ropingdown
Ropingdown's picture

The UBS brief is remarkable.  Consider that UBS is primarily a Swiss bank, and that Switzerland, alone among its neighbors, refused to join the EU and Euro.  Now UBS is essentially fear-mongering to try and coerce Germany to join a fiscal union and bear the cost of propping up the profligates to whom UBS has lent vastly more money than Switzerland is worth.  The stunning hypocricy of  the UBS commentary is deeply repulsive.

Mon, 09/05/2011 - 20:33 | 1636482 Bobbyrib
Bobbyrib's picture

You mean the Swiss wouldn't join a trading bloc set up by France and Germany for their countries to profit off of less economically viable countries (PIIGS). Curse them!

Mon, 09/05/2011 - 20:36 | 1636492 knukles
knukles's picture

Fear mongering.... Damned right!
They want to attract additional new meat, er, clients, from the other EU nations about to be the departed.  Playing to the olde traditional Swiss saftey, security and silence.

New meat ripe for Skullfucking!

Tue, 09/06/2011 - 08:30 | 1637778 Zero Debt
Zero Debt's picture

Gold backing of the Swissie is going to tumble hard...

Mon, 09/05/2011 - 20:28 | 1636450 The Shootist
The Shootist's picture

They must save the European Union, it's for the children. Benjamin Sholom Bernanke will bear the burden of the world if he must.


Just kidding, get some real money while you can!

Mon, 09/05/2011 - 20:29 | 1636452 MoneyWise
MoneyWise's picture

Stop lying bastards..

Mon, 09/05/2011 - 20:55 | 1636570 Cheesy Bastard
Cheesy Bastard's picture

But don't stop laying bastards..

Mon, 09/05/2011 - 23:43 | 1637063 blunderdog
blunderdog's picture

They're trying, but you just won't shut up.

Mon, 09/05/2011 - 20:29 | 1636455 CrashisOptimistic
CrashisOptimistic's picture

Well, looking at some lesser looked at parameters:

This moment the 10 year bond futures say 1.91% (!!!).  Behold the flight to somewhere, anywhere, not gold that isn't equities.

The 6 and 12 month paper is slightly down, as people know damned well QE3 is not truly QE because it won't be a net increase in bond buying.  Rather, the Fed will punish anyone looking for safety and force them at gunpoint out to the long end.

The Brent spread is moving towards $27 friggin dollars with Brent at $110.

The proof of the pudding will be when no one will lend Greece money, they have to drive their deficit to zero overnight, and then somehow find an oil provider to sell them oil for . . . drachmas?  When they can't get oil, that's when the Red Cross arrives with refugee biscuits.



Mon, 09/05/2011 - 20:31 | 1636469 silvertrain
silvertrain's picture

oil for islands?

Mon, 09/05/2011 - 20:39 | 1636512 CrashisOptimistic
CrashisOptimistic's picture

And it's actually deeper than this.  

You see, if Greece defaults and suffers no particular pain due to a rushing in of aid agencies, and life re-orients itself there with not a single death, then they are going to very rapidly have company in defaultville.

Only if they have mass murders and sniping of bankers and politicians will Spain, Italy, Portugal and whoever find some way not to default.

Mon, 09/05/2011 - 21:01 | 1636600 zorba THE GREEK
zorba THE GREEK's picture

"and it's actually deeper than this"

If that is true, which seems logical, then TPTB will make certain that Greece suffers

severely when they default.

Mon, 09/05/2011 - 21:12 | 1636645 CrashisOptimistic
CrashisOptimistic's picture

Yup.  And every minute of it will be on the 6 o'clock news every night.

It's a very tough read.  Do they have mass killings on the 6 o'clock news every night, or do they have everyone default.

Mon, 09/05/2011 - 21:17 | 1636667 Bicycle Repairman
Bicycle Repairman's picture

Will they label these killings a "civil war"?

Do NOT follow this link or you will be banned from the site!