Sarkozy Advisor Says French Bank Recapitalization "May Be Necessary"

Tyler Durden's picture

A rather cryptic message from Sarkozy advisor Henri Guaino who, quoted by Bloomberg while speaking at an interview in Yerevan, Armenia said that the French government "isn't planning to take stakes in banks" and adding that "this isn't envisaged at the moment." At the moment no, but after the moment? He concluded with the ominous: "maybe a recapitalization will be necessary." So who will be the next Dexia? An inquiring market wants to know. And did the market, in its latest manifestation of Korsakoff syndrome, already forget that yesterday it was announced that 'France Has Prepared An Emergency "Just In Case" Nationalization Plan For "2 Or 3" Banks." But when the next bank implodes, a multi-trillion French one to be sure, everyone will be stunned, stunned, as usual.

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Careless Whisper's picture

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Schmuck Raker's picture

" NYC Cops Mace Fox News Crew At OccupyWallStreet "

Thanks NYPD !

GeneMarchbanks's picture

NYC Cop Jokes: "My Little Nightstick's Going To Get A Workout Tonight"

My condolences to his wife.

SheepDog-One's picture

Nothing to see here until the ICBM's start raining down.

Motley Fool's picture

I am ready to be stunned by the news, just gobsmacked.

Fips_OnTheSpot's picture

Maybe. If needed. Partly.



Coldfire's picture

Of course France is "not planning to take stakes in banks". As if central planners could ever have a viable plan. Contagion has arrived and the Euro will not survive. Va te faire foutre, BNP.

wombats's picture

The Frogs should just stick to Cheese, Wine and maybe porn.  That's about all they are good for.

buzzsaw99's picture

oui oui need a bailout beeshayz

slewie the pi-rat's picture

just a short flush of a small pile of crap from imperiled balance sheet to bailout banksters who will "loan"  currency or marketable paper for balance sheet "repair", while continuing to suck these companies and now these nations dry...

...refusing to mark gazillions of worthless paper to market,...

...and pretending to have the middle classes, world-wide, by the short hairs

Let Them Fail!

dick cheneys ghost's picture

Larry Fink says they need $2 Trillion............(euro banks)

LvMises's picture

Why don't we just get it over with already? Every bank in the world is insolvent. Insolvency is inherent in a fiat money regime. If Greece would quit dilly dallying and just default already, then we could get the ball rolling. What is everybody waiting for? Does any polititian or NWO elite really believe that this system can be saved? What is their ulterior motive?

TPTB, by delaying the end game, are going to end up getting bitten by the gold bug. When this whole house of paper currencies starts falling (Greece, what are you waiting for?) precious metals are going to break away from the futures markets and physical bullion is going to be impossible to get at reasonable premiums. Sure, maybe the traders will continue to trade each other phony gold contracts for $1600 while the price on the street is $10,000. But by that time there would be blood on the streets, and no-one would even care what the "economy" or the stock market are doing. This is what I don't understand. If the final goal is a NWO with the planet's population enslaved, one might ask "why are they risking losing control of the one thing that is capable of destroying the system [precious metals]?" Why don't they just cook the books on Greece, Spain, etc...? Or why don't they just put them out of their misery, let them default, and kick them out of the Euro before they ruin the NWO's precious little "unified money" experiment?

One thing is certain: no matter what happens, things are so out of control that gold and silver will increase in value no matter what. $1650 and $31.30 are still dirt cheap for bullion compared to what they will be when TSHTF. Speaking of bullion, where does everyone buy? TexMetals has a gold maple premium at only $44.95. Anyone have any other suggestions for where to get coins with low premiums? Junk silver premiums have skyrocketed in the past two weeks, and I believe it prudent to stock up on other bullion before the same happens accross the board.

disabledvet's picture

Perhaps the PTB aren't the PTB at all? Maybe all they're doing is trying...and that's all?

LvMises's picture

There is no way that our leaders and bankers, with trillions of dollars at their fingertips, in 150 years have never seen a book by Menger or Mises or Rothbard or Hayek. This is about power. At best, they are milking the system before it implodes. At worst, it is a plan a long time in the making to control the globe and its people. All speculation of course, but we all know that the crony "capitalism" welfare state is doomed to fail, just like every other central planning and fiat money scheme throughout history.

Fish Gone Bad's picture

2 or 3 actually means at least 3.

taraxias's picture

Actually it means ALL of them

falak pema's picture

The french banking system is a cartel; Socgen, BnP and Credit Agricole, are all part of same loop. They infight over each other's domains. But now, with their backs to the wall, they will claim collective shelter from the hostile markets to their state side overlords. Its as incestuous as WS private sector shenanigans. In fact, WS, City, France, Italy, Germany and Putin have only one model now : CHina, the mixture of ONE party political spine and Entrepreneurial capitalism cartelised and cronfied, to oligarchs of their mind set. Period. NWO architecture for the decades to come. One world, one transnational economic space, one geo-political Oligarchy. Infighting for MS divide of international labor arbitrage, RM commodity and land spoils in third world, is part of this new Rome. 

What can bring the whole corrupt show down is not People's revolt first, its Oligarchy falling out and suicidal  internecine war amongst themselves. We can see it spiralling down, the bubble blow-up, race to bottom, singing 'may the devil take the hindmost'; all the while preaching in their NWO church, "we're in this all together, all for one one for all." Humpty Dumpty will fall, in Armageddon on in economic meltdown. We don't know when. Unless they go virtuous...WHat are the odds of virtuous, SUSTAINABLE Oligarchy play over decades, when confronted with the chasm. Is it still possible at this eleventh hour moment?...Ask Hamlet or God. 

Racer's picture

In the meantime, AAPL mourns the loss of jobs in the US by soaring

nah's picture

bailing out banks seems modern and 'smart'

edmondantes's picture

I am shocked, shocked to find gambling going on in this casino

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