BALANCE SHEET OF ALL EUROPEAN BANKS ACCOUNTED TO €31 TRILLION WHICH IS 268% OF THE EU´S GDP
But they
forgot to mention that the ECB already owns €200 billion of bad loans – so the
overall amount is already €1 trillion and not just €800 billion.
Indeed a
big number that really scares much. However there is no way better to explain
that the end of the Euro and Euro zone is nearby.
We are already
in a death spiral. Just look at Italy, if it collapse and I am pretty sure it
will soon, due to the trouble with its banks – they have €350 billion in bad
loans in their books which is 18% of the Italian GDP and furthermore the
TARGET2 debt of €432 billion. Meaning that Italy imported goods from other
countries inside the EU of €432 billion but never paid for it. This is due to
the crazy EU rules – money will always stay inside each country. Target2 to explain is quite simple: An Italian
client ordered goods for €10.000 in Germany. Then he paid the goods goods via
his bank account. His bank forwarded the amount of €10.000 to the Italian
central bank which then informed the German Bundesbank that it received €10.000
for the German exporter. The German Bundesbank then transfers the amount of
€10.000 from its books to the bank of the German exporter. Following this the
amount of €10.000 is credited to the exporters account. But due to the fact that
there is never ever a compensation between central banks, one has a credit and the counterpart has a
debit of the amount. And that´s it.
And the
more one imports from the another country the higher is eventually the debit of
his country. And that´s why I am pretty sure the EU will collapse soon.
But I
really doubt that this was not planned and is only due to the outcome of the financial
crisis of 2008. I would rather suppose this is part of a master plan made by reckless
companies and banks/politicians worldwide.
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