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Things That Make You Go Hmmm - Such As The "Grexit"
From Grant Williams, author of Things That Make You Go Hmmm
Despite the attempts of politicians to keep a lid on speculation about a ‘Grexit’ in the forlorn hope that if they don’t talk about it, nobody will worry, there have been a staggering amount of column inches devoted this week to various roadmaps for such an event. The problem, however, is that, though many of the smartest minds can offer reasoned speculation, nobody knows exactly what this will look like. What we DO know is that the first stage of it has begun in the shape of good old-fashioned bank runs:
(WSJ): Bank runs across Europe are a growing fear. In Greece it appears to be the real thing. Depositors pulled 700 million euros out of banks on Monday, and Reuters reports the pace was basically the same Tuesday and Wednesday...
... It’s a very bad time to even breathe the words “bank run” anywhere in Europe.
Shares of Bankia, Spain’s fourth-largest bank and as of last week a ward of the state, were down as much as 29% today after the Spanish paper El Mundo reported that in the past week depositors had withdrawn 1 billion euros.
The report was quickly denied by the Spanish government, but the bank itself had no comment.
Now, whilst the smart money left Greek (and to an extent, Spanish) banks a long time ago, that is always a stealth process - it’s only at the end when the disconnected and disinterested in society finally wake up that the real panic starts and, when that happens, things tend to take on a life of their own and have far-reaching consequences.
...
As things stand, the waves of reality are finally crashing upon the shores of Europe’s own Fantasy Island and we are nearing the endgame.
As I have said repeatedly over the past year or so in these pages, it is only a matter of time before Greece is forced to leave the EU and abandon the euro in favour of a return to the Drachma. The rationale of trying so desperately to keep the Greeks inside the construct was flawed from the beginning as political desire was allowed to fog the simple mathematics of debt and a rigid belief that markets could be bent to the will of politicians subsumed the reality that those markets care not for words, but only for numbers— numbers which have been growing ever more frightening by the day.
The only options now left for Europe are either for the ECB to assume the debts of Greece (and, once that were done, most likely Portugal, Ireland, Italy, Spain and, one day, possibly even France), guarantee them and print the trillions of euros necessary to underwrite them or, should that prove unpalatable to the German electorate elected heads of the continent, allow Greece to leave and risk the contagion that such a precedent would set—contagion which would mean the printing of trillions of euros needed in order to compensate for the massive imbalances in the Target2 payment system and stop the entire European banking system from imploding.
Either way, somebody, somewhere is going to have to come up with trillions of euros and ultimately it won’t matter what the German electorate might think about it as they don’t go to the polls until 2013.
To that end, this week, the preparations began in earnest:
(FT): Wolfgang Schäuble, German finance minister, has given vital political cover to the Bundesbank, speaking out in support of the idea that Germany could tolerate a rate of inflation above the eurozone average.
Making a rare exception to the rule that Berlin does not comment on central bank policy, Mr Schäuble declared that price rises “in a corridor between 2 and 3 per cent” would be “tolerable” in Germany – slightly above the European Central Bank’s target of keeping average inflation across the eurozone at close to but below 2 per cent.
The oft-repeated opinion that Germans are fixated by Weimar-era history will surely be tested and, I suspect, found to be slightly misguided. Yes, the hyperinflation that swept across Germany in the late 1920s was a seminal event in the country’s history and yes, it led to horrors from which Germany is still recovering almost a century later, but in practical terms, despite the obvious reservations, it will be far easier to sell the German public on “slightly elevated inflation for a short period of time” (or “leicht erhöhter Inflation für eine kurze Zeit”—a translation you can write down because I have no doubt you’ll be hearing it very often, very soon) than the press would have us believe because Germans, like Americans, Brits and everybody else are, in the main, ignorant of the dire situation facing the global economy—and besides, 3-4% inflation, for a modest period, of course, is hardly going to be difficult to get back under control now, is it? Just ask Mervyn King.
Whilst fears of deflation continue to paralyze investors still traumatized from 2008, what we have in actuality is what Bill Murphy so eloquently calls ‘deflation in everything we own and inflation in everything we use’, a condition that will prove disastrous as politicians continue to push the same buttons harder in expectations of a different result.
Somebody, somewhere is going to have to print a LOT of money to try and make this all go away and that is the joke in all this.
For the logical follow up to who, what, and how much will have to be printed, read the previously posted note by Jefferies' David Zervos.
As for the full note by Grant Williams, which has much more in it, it can be found below (pdf):
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"Can you picture what will be,
so limitless and free,
desperatley in need of a strangers hand,
in a desperate land"
-JM's words
Greece and the EU is falling apart...logic says gold will shine again.
John Embry (Sprott) and James Turk on the gold market attack and the logic of it all:
http://www.planbeconomics.com/2012/05/21/john-embry-james-turk-on-the-go...
Actually, politics will reign supreme like an aging street hooker. And vee vill love it, yes?!
Juncker grabs fellow politician by the neck and pretends to thrattle him:
http://tinyurl.com/bp8j5a8
Photoshop? If not then... wow
Looks more like they are horsing around, guy getting his neck wrung looks pretty calm, considering? But it's probably a good metaphor for how these psycopaths usually feel. Don't agree? Off with his head.
The irony behind Grexit? It will inevitably be followed by Corexit. A smaller europe is a euphamism, an oxy moron.
A smaller europe, tighter, more successful Europe? It's where Fascism lurks in every euro-leaders breast. Because they've all got these monarchs (Mon Arch, what a word) and zey all vant to be keeng!
And all zee gold is in a few places (Vatican, City of Londonium) and all zee soldiers are under a common mon Generale!
The Fashism ads on ZH are a scary portend.
ori
smorgasboard-eclipses-venus
awesome link, can you leave more links??
love you site!
And the US will be right their in tow, because we are tied to Europe like an anchor to a ship.
“The last duty of a central banker is to tell the public the truth.” -Former Federal Reserve Board Vice Chairman Alan Blinder! 1994
Yep, root problem all thru government, top to bottom.
They lie so much it comes natrually now, say whatever they want, doesn't matter.
They get away with it till someone powerful enough gets pissed enough and brings hell down on 'em, complete destruction.
The only cure for chronic lying is death.
And now they want to use propoganda against us here in Amerika. Propoganda = lies. Seems the problem is global.
http://crooksandliars.com/susie-madrak/new-defense-bill-removes-restrict...
Yes
This is the end
Beautiful friend
This is the end
My only friend the end
Of our elaborate plans the end
Of everything that stands the end
And now back to your regularly scheduled discussion.....
Death seed blind man's greed
Poets' starving children bleed
Nothing he's got he really needs
Twenty first century schizoid man.
Are concerns over a Greek Euro exit overdone ? http://www.cnhedge.com/thread-4852-1-1.html Is the Euro area Credibly on Target? http://www.cnhedge.com/thread-4838-1-1.html
When it becomes serious, you have to lie.
And they don't understand why they have no credibility? Lying assholes should all be in prison.
Just sayin'... there's more than a passing chance....they'll never go through with it....why?...Hint:... They got it too easy like this :-).....mwaaaah!
Thank you very much...Mr. Nigel Farage for 2-1/2 minute please....
"Same guy."
Priceless!!!
Inflation, mein Fuhrer!!!
“Better to remain silent and be thought a fool than tospeak out and remove all doubt”
– Abraham Lincoln I always thought Mark Twain said that.I think Lincoln is getting more credit than he deserves. One site I just found claims Lincoln was quoting Twain. The first time I saw it was in either Tom Sawyer or Huck Finn. It seems to be based on a bible verse, but the bible version is not nearly as funny.
‘deflation in everything we own and inflation in everything we use’,
is that why my PMs are deflating, cause I own 'em? /sarc, sort of
Frank N. Beans
No, its like posted here many times
Its what we NEED not want..........that is Inflating like hell.
(i.e.) Food, $5/$6.00 for an uncooked whole chicken, that cost $2.50 18-24mos ago.
Milk at $4.00 a gal, that was $1.89.
The list is endless in MUST haves, v.s. wants.
What is it that will be driving the price spike that is not also true for other things?
Energy costs? Scarcity leading to a supply - demand curve shift?
So your expectation is that hard assets like real estate will devalue too? Is that in relative (real) or nominal terms?
I've seen this biflation line mentioned plenty, but I don't understand it except if we are talking about making do without iWhatever.
What is it that will be driving the price spike that is not also true for other things?
Price increases we're seeing are generally caused by devaluing currency (inflation), i.e. losing 50% of its value last few years, prices of things in demand doubling to compensate ...pretty much what we're seeing.
Housing demand is dropping fast however, inflation offsetting only about half of demand drop, resulting in 30% price drop rather than 60% price drop.
In constant dollar terms, housing has dropped 60% since '07. On average. Across the board. Less in some individual cases, more in other individual cases.
But the dollar losing 50% of its value masks some of that drop in value, yeilding price drops of only 30% on average, across the board.
Gold? Silver? They haven't lost any value. So the dollar losing 50% of its value results in gold and silver prices doubling, like other in-demand things such as millk, bread, gas.
But demand for gold and silver has risen dramatically also. Investor demand mostly. Many more people wanting gold and silver now.
That strong rise in demand would normally push prices even higher.
But there's another thing happening too. The Fed is trying to suppress gold and silver prices. Two ways. Keepind demand down with negative propoganda, telling the public gold and silver are no good for investment, no serious investor would have gold and silver, they don't give any interest income, no yield, etc and by shorting gold and silver in the markets, with naked shorting too, and lots of it.
Why is the Fed trying to suppress gold and silver? Because they see gold and silver as competition to their fiat currency. They know gold and silver are natural money everybody recognizes, and gold and silver are limited in supply, compared to their fiat currency they can print on a printing press, as much as they want to print, making the supply virtually unlimited.
Back in '07 the "money supply" of their fiat currency was around 2 trillion "dollars". Now it's around 9 trillion "dollars". And there's no cap on it. It could be 20 trillion "dollars", 40 trillion "dollars", as much as they want to print, or digitally create in a computer in somebody's account.
That's what causes the value of each "dollar" to drop. They're printing so many of them. Flooding the world with them. Mostly to fund steadily increasing government debt, also to buy worthless securities from banks, so banks can dump their worthless securities on the Fed and get full price for them, improving how their balance sheet looks.
It's like you being able to sell a junk car or some other piece of junk to the Fed for 10 times what it's worth. Or 20 times what it's worth. Or 50 times what it's worth.
The Fed can just print the currency to buy it.
Patience FrankyBean, you will be glad you own them soon enough....the elite see no other option but to fire up the print presses again.....I only hope the shut it down before the question becomes "Can you keep them in your possession?"
Yes...The essence of biflation is an unholy double whammy of deflating assets and incomes with rising costs. It's the inevitable side-effect of reflationary policy in the midst of a depression. And it will creat it's own downward spiral in standrard of living, employment and advancement opportunities
I thought they used up all the 'Grexit' to clean up the Gulf of Mexico a few years back...
Since they fed that years shrimp crop to the US soldiers, maybe a 2nd generation of Grexit is being saved at foreign military bases...
For some reason, Obama wants Germany to join Europe and the US in mass economic suicide.
http://confoundedinterest.wordpress.com/2012/05/21/obama-wants-germany-to-stop-austerity-st-curse-of-being-fiscally-well-managed-and-act-reckless-like-the-u-s-and-greece/
The lie would have to be SO BIG that it would have to provide enough cover to conceal all the perpetrators of the conspiracy. Yea, apparently it is big enough...
No wonder Junker looks sick, in fact they all do, sick and broken. There denial of reality is killing them and the rest of Europe.
Actually we should start seeing some crack...as in give up...just so sick that they quit....they can not tolerate any more lies...watch for people leaving the ship....
I agree. ECB lost their German board members, bets on Bundesbank members are losing it, Merkel looks ill, maybe stress and high cholesterol. That french commie looks ill and he just won the election, Italian leaders look dead, Spanish look barely animated. Mario looks insane etc etc etc
The Troika will crack up as the burden will become unbearable once the PIIGS borrowing costs blow out to hell again.
There is no more can kicking anymore, just death.
In fact, they are sick and broken.
They are terrified... their worst nightmare is in full play -- the exposure: of their ineptitude,
and the end of their delusion.
The path of the Self-Absorbed in high places leads to misery for all.
But we've been thru this before...
+1
very well said.
"guilt by association." if Germany never actually cared to begin with they wouldn't be in this mess. "No good deed goes unpunished." Germany WILL come to Greece's rescue. What's left of Europe as a consequence? "Whatever is left of Europe as a consequence" that's what...
Perfectly beyond poetic.
EVERYTIME I see something frmo Juncker I immediately think of the statement: "When things are bad you have to lie", the guy has zero integrity so I listen to his statements from a contraian point of view - especially when things are bad as they are now!
Perception management necessitates equivocation.
"Lehman is perfectly solvent."
"Enron is well capitalized."
"I did not have sex with that Woman."
"I have no recollection of that event."
etc., etc., etc.
Ask me no questions and I'll tell you no lies.
There is 0 chance that Greece will be allowed to leave the Eurpean Union. The tyrants in charge of the E.U. will never let 11 million souls escape their grasp. Their goal is to dominate the lives of other human beings. That is what the political elite in Brussels wants. They will never willingly let an entire nation of 11 million people escape their control.
until they've milked them for all they are worth to the point that they will never ever be able to pay their bills
Hey. Even Cramer and Krugman have crawled on the Grexit bandwagon.
So maybe it is all bullshit.
(cynicism galore)
Once upon a time the story goes, Jeff Bridges was sitting next to Robert Mitchum at the Academy Awards. Jeff was all a flutter that he might be getting at least a nod for something or other. Seeing him visibly nervous, Mitchum leaned over to him and reputedly said; "Just remember kid, it's all just bullshit anyhow."
Do not fear futility because it also rains on the ocean.
- unknown
You made that one up..Admit it.
"Prologue of Central Planning via NWO ?"
The "Nixon Shock" [1971] --- [A Decade passes?] --- The "Voodoo Economics' of Reaganomics" [1981] --- [ A 2nd '~1990' Decade passes] --- The German Reunification,... the 'Builder's Corner-Stone - set in place for the "Designed to Fail Euro?"
The "Weimar [1919] Republic"! Why?
Summary: Hitler fed off the hatred fomented by the Weimar Republic's impossible hyper-inflation [sounds like current-day Greece?] making it nearly impossible for the German people ever getting out of debt. Thus creating WWII, which brought about the 'Bretton Woods System' [1944] which brought about America's Gold backed Fiat System - which in turn helped our European neighbors dig out of the traumatic, and devastating effects of post WWII. Then asshole Nixon tells the Europeans to suck 'Pond Water' and defaults on our gold-backed [remember Nixon-Shock/ 1971?] currency,... thus leaving Europe fucked! Miraculously,... maybe better said, mysteriously, for the timing couldn't have been better - Afghanistan defeats the USSR with the help of Pakistan using Reagan's [remember Reaganomics?] subversion money and tactics [?] an in 1991 all that was left to the USSR was [remember German Reunification?] Russia, period! Please realize that there is a defined and pronounced sequential path being scripted [maybe I am a conspiracy theorist,... but, maybe not?] Next to follow was the creation of the EuroZone [1998/2000 genesis] and the ECB [1999]. Now, currently with 23 countries in the European Union [EUC] Countries, its failing! Why? It was designed to fail to bring about the culmination of the 3rd stage of 5, of what we now is known as the "NWO''! jmo
thankyou tyler
I have been an NWO believer for many years but recently I have been developing an alternative theory based on current events and my expanding knowledge of certain subjects. I am starting to think that the E.U. and the Anglosphere may, in fact, be competing with one another. Hence why Britain has never joined the Euro currency and seems stand offish about the whole thing. Meanwhile, the ties between the Anglosphere have never been tighter.
So I see these two power blocs as possible competitors, rather than co-conspirators in attempting to build the New World Order. Europe has refused to support the Anglosphere's wars of aggression and has become overly critical of Israel. Perhaps the Anglo-Zionist empire therefore has been waging clandestine economic warfare against the E.U. I believe the E.U. was becoming a threat to the Anglo-Zionist global military empire, one that could not be controlled, and so mechanations have been undertaken to dismantle it.
At least that's a new working theory. We'll see. If the NWO is true, then the European Union cannot break up. If the E.U. breaks up, then the NWO is, in fact, merely the old world order - the Anglo-Zionist alliance and their global military empire.
Britain never joined the euro currency because it would have damaged the city of London's power which is the center of most financial fraud and the only place in the world that allows infinite rehypothecation.
There is only one power block and that is The Council of 13 (house of Rothschild, house of Rockefeller, house of Morgan, British Royal Family, Dutch Royal Family to name a few) they control the western financial system and continue their feudelistic serfdom through debt slavery and the corruption of governments. From this group stems the many control groups to keep their system in check:
Committee of 300
Bilderberg group
Tri Lateral Commission
Council on Foreign Relations
IBS
The IMF
The World Bank
The Federal Reserve
They have been running and planning this gig for hundreds of years and are masters at misinformation, corruption, assasintation, esbionage, and at hiding in plane sight. There are only a couple thousand at the top and it is time that they were removed permanently from this earth.
Agreed.
Good luck to us.
Good prelude Paul !
Here are some sites for further reading (in arbitrary order):
* Bilderberg Conference 2010: watch out!
http://www.amanita.at/Interessantes/Artikel/detail.php?id=17573
"Back to Bilderberg: in the first decades secrecy was crucial but meanwhile they have become so powerful that that secrecy gets less and less important. Meanwhile we are close to the totalitarian-fascist New World Order, so it's time to accustom the population to the new world order government... Moreover, there is enormous biological time pressure, time is running out for the esoteric circle: Zbig Brzezinski is 82 years old, Henry Kissinger 87 years, and David Rockefeller even 95 years. They have worked many decades for their big goal and have to act (too) fast, which will bring about their downfall."
* Final Warning: A History Of The New World Order
http://www.american-buddha.com/finalwarning1.htm
* Satanic Illuminati Bloodlines
http://archive.org/details/SatanicIlluminatiBloodlines
* The 13 Illuminati Satanic Bloodlines
http://www.thewatcherfiles.com/bloodlines/index.htm
* The Illuminati / Satanic Bloodlines by Fritz Springmeier
http://www.theforbiddenknowledge.com/hardtruth/the_satanic_bloodlines.htm
http://www.bibliotecapleyades.net/bloodlines/
* The Pyramid Conspiracy Archive - You'll never think the same way again
http://www.therevelation.50megs.com/antitrust/
* Illuminati - Order of The Illumined Wise Men
http://www.bibliotecapleyades.net/esp_sociopol_illuminati.htm
~ ~ ~ And depending how deep one wanna dig about Illuminati/Bloodlines/Brotherhood/etc, if one wants to read even more, some books below also cover that matters implicitly or explicitly.
Here are some useful refs e.g.: None Dare Call It Conspiracy; Fearful Master; Crossing the Rubicon; The New Babylon; etc. Please read through then you’ll see the world differently!
Grab it here: http://bit.ly/IJwmn1
(crossing_rubicon.rar, 3% rr, 14mb)
safe pdffile, just make a quick link; md5 hash: f19c67eab311398c7d53a5cca56bf278
TRAGEDY AND HOPE: A HISTORY OF THE WORLD IN OUR TIME (1966) by CARROLL QUIGLEY.
A book about the comprehensive history of the 19th & 20th centuries.
Grab it here: http://bit.ly/xo9I7S (pdf, 5.42 mb).
THE NAKED CAPITALIST (1970) by W. Cleon Skousen.
Former F*I Agent W. Cleon Skousen’s book THE NAKED CAPITALIST first published in 1970 is described by the author as: “A Review and Commentary on Dr. Carroll Quigley’s (1966) Book: Tragedy and Hope—A History of the World In Our Time.”
Skousen’s book is highly recommended because it helps one understand the more salient issues Quigley has documented and puts Quigley’s monstrosity in perspective. Skousen helps the reader to comprehend what Quigley has written and discern Quigley’s biases.Grab it here: 'The Naked Capitalist ocr'd.pdf' by W. Cleon Skousen
15,907,456 bytes, md5: b4dd8125454cc791474035fa6bdb33d4
http://bit.ly/KCjgOm
@ Paul Atreides
"... they control the western financial system..."
Are you so sure they don't control the east also?
Teleological reasoning ...
... is when you use statements which are false to fact to support your line of reasoning. Example: Giraffes grew longer necks so they could eat leaves at the top of trees the other leaf eating animals could not reach. (Giraffes did not willfully grow longer necks. Giraffes with longer necks were able to eat and reproduce while giraffes with longer necks starved - as did their offspring)
"The only options now left for Europe are either for the ECB to assume the debts of Greece (and, once that were done, most likely Portugal, Ireland, Italy, Spain and, one day, possibly even France), guarantee them and print the trillions of euros necessary to underwrite them or, should that prove unpalatable to the German electorate elected heads of the continent, allow Greece to leave and risk the contagion that such a precedent would set—contagion which would mean the printing of trillions of euros needed in order to compensate for the massive imbalances in the Target2 payment system and stop the entire European banking system from imploding.
Either way, somebody, somewhere is going to have to come up with trillions of euros and ultimately it won’t matter what the German electorate might think about it as they don’t go to the polls until 2013."
Mr. Williams line of reasoning is Europe's only options are the ones he wishes to present. In support of his line of reasoning, he has decided the German populace is completely disenfranchised (i.e. 'polls until 2013") while the profligate countries have the presumptive option of handing off their debt to the EU as a whole ( i.e. the AAA rated countries = Germany) which can willfully print trillions of euros to make his two false to fact statements the only possible outcomes.
Like the willful giraffes of my example the preexisting currency known as the euro has a fatal flaw which condemns it to death rather than to have trillions of offspring. It is NOT the reserve currency of the world.
While the world will greatly note its passing, and some other parts of the economic food chain may also become extinct as a direct result, the death of the euro is NOT an impossibility since being reproduced into trillions of even weaker offspring would insure its death just as surely as the dissolotion of the the EU/euro.
I will not even bother to touch on the other logical inconsistencies embodied above.
barliman
the euro should be the making of two set values --- indeed, the 'gold [100%] standard', and silver [float ~60% / 75%] standard.
the system just can't handle a one-size fits all when one country can't make shoelaces while the other can turn out mini-nuclear subs monthly
My bad
This 'Giraffes with longer necks were able to eat and reproduce while giraffes with longer necks starved - as did their offspring'
Should insted be 'Giraffes with longer necks were able to eat and reproduce while giraffes with shorter necks starved - as did their offspring'
barliman
Thank you for your efforts Mr. Williams. I enjoy each issue you send out.
Just schedule a Twitter IPO and kill OSB again and all of this will work itself out.......................
Precisely
Twitter is like a shitty and vastly technologically inferior version of IRC.
I guess its existence and success is based on text messaging on cell phones. Essentially, hundreds of millions of people have been conditioned by text messaging such that they are only able to read and write very short messages to one another.
Sad.
http://www.wolfgangsvault.com/crosby-stills-and-nash/video/wooden-ships_...
Crosby, Stills & Nash
Wooden Ships
Winterland (San Francisco, CA) Oct 7, 1973
-- ‘deflation in everything we own and inflation in everything we use’, a condition that will prove disastrous as politicians continue to push the same buttons harder in expectations of a different result.--
My problem with this is that I have justified doubt that any different result is expected. The writer makes comments like this earlier in the piece, too, and it's increasingly difficult for me to tolerate otherwise punchy and savvy commentors when they paint the leaders as mistaken, erroneous, or clumsy.
At what point do we believe it's orchestrated, and if we don't, why not?
Forget Europe, Asian outflows are in overkill
India (BRIC) looking bad:
Broadly repatriation, trade flows largely seen in recent weeks
Some banks take small tactical short USD/INR bets but stopped out
INR weakens by 4.6% in last five sessions in a largely illiquid mkt
RBI running out of options; large intervention unlikely
Hits a record high 55.09
How much longer are American savers keeping their funds in the banks?
BANK RUN in Greece and now in Spain. Italy can't be far behind. The daily outflows will eventually become unmanageable for the banking sector and the ECB. Despite assurances and all attempts to be stemming the tide, the run will escalate. It's happening NOW.
When are banks in North America, South America and Asia drying up?
It's not the holders of large accounts that will cause the system to freeze up, it will be thousands and millions of account holders with relatively small deposits that will break the buck everywhere.
Confidence is in the toilet, folks. The Emperor has no clothes. FB flopped and G8 was offering frightingly little comfort to the world's holders of bank accounts.
GET
YOUR
MONEY
OUT
NOW
and don't forget the JPM induced derivative nightmare
Was this guy named by Charles Dickens?
“When it becomes serious, you have to lie.’’
– Jean-Claude Juncker, Same guy
Spain is next. The papers here are rushing to assure Britons that Santander UK is completely separate from the Spanish parent that is steamrolling towards the brick wall of default.
I laughed at my RBS bank manager when he told me this too, then proceeded to withdraw all my cash funds. I personally can't wait for the bank runs to start.
My only investment advice nowadays:
Short the liars
Do a Zerohedge search for Juncker roflmfao!!!!!!!