Bob Chapman: Injured Global Economy Ponders Coming Challenges 1/2
Bob Chapman: Injured Global Economy Ponders Coming Challenges 2/2
Debt repayment is a subject few want to discuss, or that few understand. We know most of the largest banks in the world are broke along with at least 6-euro zone nations.
There are many others, but the most concerning are the debts of major nations, which are supposedly solvent. Needless to say the US is deeply indebted and the Super-Congress Enabling Committee couldn't even lay politics aside to cut spending increases.A bill has been entered into Congress to prohibit US funds being used via the IMF to bail out European banks and governments. We see a scant chance of passage because of the elitist control of both Houses.
On the other hand it makes little difference, because the Fed has opened the swap floodgates and other avenues of secret funding to "recapitalize," bailout, European banks of all sizes and depths of default.As we end 2011 it is all quiet on the Western Front. Behind the scenes unbeknownst to almost all - the elitists are plotting and planning on how to extricate themselves from the morass they have gotten themselves into.
How do they put the crisis on the back burner and extend the timeline? The vaunted 6 nations on the edge of default await aid, but one might ask from whom? That solution hasn't even been sorted out as yet, and we now find France facing a possible two level lowering of debt ratings, but even Germany is not as solvent as they were thought to be. Could it be that France and Germany might not be able to...