Tag Archives: Crash 2 : Why Draghi’s Stron Words On The Euro Presage The First Big Banking Collapses. The Over Beveraged Banker Staggers in Stage Right

John Ward – Crash 2 : Why Draghi’s Stron Words On The Euro Presage The First Big Banking Collapses. The Over Beveraged Banker Staggers in, Stage Right – 1 June 2012

“Her-huh…I guess Wall Street wen’ out an’ got drunk” (GW Bush, 2009)

When Mario Draghi directly says, in front of a phalanx of media and snappers, that without concerted action now the euro is dead, then you know he’s trying to do two things: first, stir the poetry nutters in Brussels into some form of action that isn’t entirely dyfunctional; and second, use that to slow down the melting process in order to keep attention away from the real deal: the banking collapse, and the entry of $700 trillion of derivates into the real world. It promises to be quite some birth. Continue reading