If one was to look at the euroland debt ponzi, one would land in a funny house for mental checkup. The spaghetti debt chains cannot be unwound without bringing the entire system down. E.g. Greece bonds are majority owned by French banks. Italian/Spanish bonds by German & British banks. Then throw in Ireland & Portugal & the spaghetti thickens. Then try and find out who owns what & it becomes funkie when banks realizes that everyone owes everyone. Nobody owns anything?! Then the banks realize that bond haircuts are a must & the crunch starts. Then you look further & realize US banks have ties to EU banks & the contagion spreads. With a number of Germans opposed to endless& worthless bailouts as per the latest opinion polls, this drama is far from over. After ECB attempted to kick the debt can down the road yesterday, the DE finance minister was pissed & made it known. Lehman shock & awe event was a miniature display. What is coming is a hurricane of a show...

Just for laughs, but equally serious - http://www.youtube.com/watch?v=I5QwKEwo4Bc

Update - The bailout rebellion

http://www.testosteronep...ebellion-in-germany.html

@hisah the rumor mills say that that UBS trader must have been long CHFs and got caught up dear b4 head lights by the SNB intervention followed by the Euro peg. Could be.makes sense to me.

It's refreshing to see that people are wearing money goggles. This finance bill has a lot of IMF tampering gimmicks. They should be trimmed off. I'm not a fan of these bretton wood firms & the sooner they're shutdown, the better.

http://www.nation.co.ke/...04/-/8adort/-/index.html

Also, too much gauranteed funding could make the Counties lazy then we'd be going back to the era where we supported corrupted & loss making Parastatals from the national budget. #my2cents#