Carlin: Wall Street Owns Washington

A Gold and Silver Paper Default in the Wake of an EU Collapse


by Jeffrey Lewis, Silver-coin-investor:

The EU has failed to recapitalize its banking sector, which still remains massively over-leveraged. They have not yet had their “Lehman moment” of truth.

Furthermore, governments of the Eurozone adopted the Euro as a common currency in part because by doing so, they could collectively borrow at much lower interest rates than they were used to when they printed their own money.

Now they cannot continue to do this because the beleaguered Eurozone has lost the confidence of the markets and cannot seem to regain it no matter what financial band aids are applied to the situation of excessive sovereign debt. Instead, confidence is largely confined to the currencies of those nations which still maintain a legal monopoly on its creation.

Read More @ silver-coin-investor.com