2% reserves, with all the insanity they have to deal with over there, 2%?! This could get fugly quick.And American banks do have stakes in many euro banks, just so ya know.
The general population and investors seem to not understand the interconnected nature of the system -- there really isn't a safe haven anymore, and no one can afford a Euro or a dollar collapse at the moment, so everyone keeps playing "extend and pretend" - an everyday there are more and more people noticing the unstable edifice. Hell, when
left leaning USA Today notices 62 Trillion in unfunded liabilities you know the end is near.
Iran is 2 months from a Nuke. I suspect they will test its operation on a city in Israel, and we will have a full blown war in the Middle East. Obama will of course commit us to fighting it, and thereby justify price-fixing and rationing here at home as part of the war effort, drafting our
ever growning jobless younger population into service to prevent them from rioting at home, deploying out best military personel over seas and hiding the complete failure of his policies the same way FDR did - by making the U.S a command economy. Why do I say this? WWI and WWII have thier roots in a similar envrionment.
