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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: t4texas who wrote (161110)12/14/2011 4:43:57 PM
From: Bearcatbob  Read Replies (1) of 206334
 
There are plenty of examples. Argentina, Iceland, Mexico - how did all work out there? Is the problem simply that the the loaning countries cannot afford the write offs that their domestic banks would have to take? My sense of last weeks agreement was that the nations would support their banks while the individual nations would be responsible for shaping up their financial acts. Those that did not shape up - would simply pay the price. Those that did shape up would be assisted through the adjustment period. Without assistance the rates on their refi's would simply be brutal - as CNBC talked about today re Italy. Perhaps the lesson is that short term debt is a super killer.

Bob
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