1 vote

G7 in meltdown mode now!

Looks like the SHTF may come by end of
Weekend if this is true! Hope everybody is ready.

http://www.zerohedge.com/news/g7-issues-communique-tackling-...

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SteveMT's picture

No Yawn: Germany Said to Ready Plan to Help Banks

The onerous debt is engulfing them all. The Euro's demise will then cause even more pressure on the dollar.

Germany Said to Ready Plan to Help Banks If Greece Defaults
By Alan Crawford - Sep 9, 2011 9:09 AM MT

Chancellor Angela Merkel’s government is preparing plans to shore up German banks in the event that Greece fails to meet the terms of its aid package and defaults, three coalition officials said.

The emergency plan involves measures to help banks and insurers that face a possible 50 percent loss on their Greek bonds if the next tranche of Greece’s bailout is withheld, said the people, who spoke on condition of anonymity because the deliberations are being held in private. The successor to the German government’s bank-rescue fund introduced in 2008 might be enrolled to help recapitalize the banks, one of the people said.

The existence of a “Plan B”...

http://www.bloomberg.com/news/2011-09-09/germany-said-to-pre...

Plan B...Ha!

Yawn. ZH has a habit of reading WAY too much into

mundane and humdrum statements routinely issued.

As it stands, let's say there is a near melt down. Then the capital injections show up, and the market doesn't crash on Monday.

So, no crisis.

ZH hasn't managed to point out how this move to forestall crisis will fail, or how far in the future it has postponed the inevitable, nor how more dramatic that ultimate crash will be in any quantifiable terms.

Seriously. Life is busy enough without having to waste in on someone's speculation.

When it happens, let me know. In the meantime, I have a life to get to.

Self bump

For all the gold and silver bugs..
Yehaw !!!!

Humility is the cornerstone of a Warriors Strength.

You are a...

Right wing terrorist!!

"I send you out as sheep in the midst of wolves, be wise as a serpent and harmless as a dove."