European Banks may need US$ 23 Trillion Bailout !

• It is time to come to our senses. Governments should let all these banksters go bust. They do not need our help or sympathy. America has about 8000 banks. So even if 4000 banks fail, America still has another 4000 banks. Tax payers money are better used to support good banks and not corrupt bad banks.
   
• The US government can start 10 new banks with the earlier US$750B bailout. Where are these US$ 750B now? No doubt in ‘bonuses’ and special incentives to these banksters! No amount of money can cover up the financial black hole that the banksters have caused. Their derivatives exposure is US$512 T to US$ 1 quadrillion! How in the world are we going to bail this out? We should just bite the bullet and kill off all these bad banks. They are going to collapse any way. It is either some, quick 3-4 years of pain or 20 years of suffering, pain, disaster, poverty… Bailing out these banksters is going to bankrupt the entire world!
   
• Bruno Waterfield  (The Telegraph) writes in European Banks may need £16.3 trillion bailout, EC document warns :
    
  A bail-out of the toxic assets held by European banks’ could plunge the European Union into crisis, according to a confidential Brussels document.
   
  “Estimates of total expected asset write-downs suggest that the budgetary costs – actual and contingent – of asset relief could be very large both in absolute terms and relative to GDP in member states,” the EC document, seen by The Daily Telegraph, cautioned.
   
  It is essential that government support through asset relief should not be on a scale that raises concern about over-indebtedness or financing problems.” The secret 17-page paper was discussed by finance ministers, including the Chancellor Alistair Darling on Tuesday.
   
  National leaders and EU officials share fears that a second bank bail-out in Europe will raise government borrowing at a time when investors – particularly those who lend money to European governments – have growing doubts over the ability of countries such as Spain, Greece, Portugal, Ireland, Italy and Britain to pay it back. 
    …..
  In line with the risk, and the weak performance of some EU economies compared to others, investors are demanding increasingly higher interest to lend to countries such as Italy instead of Germany. Ministers and officials fear that the process could lead to vicious spiral that threatens to tear both the euro and the EU apart.
    
  “Such considerations are particularly important in the current context of widening budget deficits, rising public debt levels and challenges in sovereign bond issuance,” the EC paper warned. 
   
• £16.3 T is about US$23T to bailout these banksters! The GDP of the entire EU is less than US$ 17T and we need to spend US$23T to bailout banks! They are out of their freaking minds! Get a grip on reality! These banks are going bust no matter what we do. Why should citizens pay for these bailouts? Let the bad banks all die and let citizens keep their hard earn money and spend it to boost the economy!
   
• Is the world going bust? The US, EU and Japan are in my opinion clearly bankrupt! Will we see a financial and monetary collapse? Highly likely! So what is not to like about Gold ?
   
  Gold Price Set to Soar !
  What’s not to Like about Gold ?
  Dollar Devaluation, Debt Default & Gold
  Massive US Dollar Devaluation Against Gold During 2009
  Gold Rush Worldwide!
  Obama, Roosevelt, Gold Confiscation and Dollar Devaluation
  Economic Depression and Gold
  Celente – Code Red ! Economy in Collapse !
  GEAB : Systemic Economic Crisis: The Sequence of Global Insolvency Begins
  Global Financial & Economic Meltdown
  GEAB forecasts Next Financial Tsunami in March 2009
  Global Monetary Meltdown in 2009 ?
  America’s Debt – Ticking Nuclear Bomb!
  American & British Banks are Bankrupt!
  Economic Collapse of 2009 – Greater than Great Depression of 1929
  America is at the Edge of Niagara Falls
  Gerald Celente – Trends 2009
  Can Countries Go Bankrupt ?

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