State collapse is inevitable when a society’s leaders are insulated from the negative consequences of their bad decisions.
Mike Shelby
Who is first will be irrelevant. Much like a giant photo op setup up dominoes, they will likely fall so fast once the first falls, that intervening and stopping the total collapse will be difficult if not impossible.
“Too big to fail”
Ahhh… I remember the days!
Nothing like saying we need to make things worse.
Read in one of my fin-blogs JPM dumped their short (200m oz) and are now long 75m.
Yes. The American banks still have exposure but most of it was transferred to European banks and the LBMA. This is why the EU is banging the war drums against Russia: their banks will collapse.
I hope it’s the TBTF crowd that is finally allowed to fail. And let them be taken over by the Federal Reserve. Then fold those assets into the Treasury via nationalization and say FU to the private bankers and stock holders.
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