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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (15533)	2/19/2009 10:03:16 AM
From: SliderOnTheBlack	3 Recommendations Respond to of 50524

re: ["Gary North was wrong about Y2K. Let's hope he is wrong again about the huge European banking crisis / coverup which make the US banking problems look puny in comparison."] lewrockwell.com He's not wrong... Message 25004191 From: SliderOnTheBlack 9/29/2008 12:42:47 PM Post # 12078 WARNING: You need to get real focused here... "Even though it's a matter of "when, not if" global central banks pump a trillion dollars into the system, we may literally be witnessing the collapse of the global financial system. $300 billion was pumped into the financial system last week alone, and it didn't stop credit spreads from widening, or banks from failing. And even though it appears this TARP bailout plan will be approved, it may be too late. There has never been a debt bubble collapse that has been solved with more debt. European banks are now collapsing (Fortis, B&B), and banks like Deutsche Bank which was levered 50:1, represent grave systemic risk to their home economies and markets...." ************************************************************* Message 25030983 From: SliderOnTheBlack 10/6/2008 7:16:37 AM Post # 12275 "Only 35% of Citi's funding comes from it's deposit base... unless it can roll up a large deposit base BANK -- it's toast. And it's not just in the US. DEUTSCHE BANK is leveraged more than the US investment banks @ 50:1. It's failure will crater the German economy and markets..." *********************************************************** Message 25219310 From: SliderOnTheBlack 12/1/2008 7:08:50 PM Post # 13726 "John Paulson who made the single greatest trade in the history of financial markets by shorting subprime CDO's & the ABX, was the first one who talked about the European Banks posing even greater systemic risk than U.S. Banks. Paulson who has closed out his US subprime shorts, is now actually buying select US subprime paper, but is still massively short Euro banks for the following reasons... -- they do not have the backstop mechanisms that US Banks have with the US Fed & Treasury. -- they are significantly more leveraged than US Banks. -- they pose greater systemic risks to their homeland economies and markets due to the size of their positions vs. the size of their representative economies. -- they hold far greater exposure to emerging markets. "Short" DEUTSCHE Bank/DB has been on of my favorite trades for months. I've mentioned it a few times..." ************************************************************* SOTB