The hole that the banking systems and governments have dug for themselves has no way out.
Here are some Europeans talking with Robert Shapiro, former adviser to President Clinton and Obama about Europe’s problems. While these people are doing their best to argue that there is a solution, please note that, at best, they are talking about smoke and mirrors achieved by raping taxpayers in the various European countries. There is no way that the European banking system can be recapitalized.
The ending is so horrific that no one is capable of admitting its inevitability. All believe, or at least want to believe, that something so terrible could not and should not happen. Emotion dominates logic.
A systemic banking crisis is coming. There is not a damn thing that governments can do to prevent it. It is, at this point, unavoidable. The best they can hope for is to extend and pretend while impoverishing citizens even more in the process. Unfortunately, more money printing and assurances from governments cannot alter the course of economic law.
It is over. Only the final act remains to be written.