muses of the moment

October 15, 2013

Latest Blog Post from Martin Armstrong dated October 14, 2013

Filed under: Economic Confidence Model Cycle, European Debt Implosion, Martin Armstrong — Tags: — totallygroovygirlfriday @ 9:18 pm

Click here for Martin Armstrong’s latest blog post entitled European Banking Crisis: Seizing 10% of Everyone’s Accounts dated October 14, 2013.

The Sovereign Debt Crisis in Europe is joined at the hip with the European Banking Crisis and this is caused by the failed Euro design structure. The Eurozone banks are burdened with vast amounts of bad loans running into the hundreds of billions of euros and the higher taxes move, the lower the economic growth that fuels the growth in bad loans. The Eurozone banks will need at least €700 billion in euros to meet stress tests.

The European public funds from the ESM are insufficient. The banking rescuers are frantically looking for a “safety net” and this is viewed as now creating a general bailout by seizing 10% of all deposits in Eurozone banks.

Advertisements

2 Comments »

  1. Hi GG,

    In the following blog post on gold manipulation, Martin Armstrong states “Gold is in a bear market anyway.” How long is this bear market expected to last? Isn’t the long term secular bull market trend for gold still in place?

    http://armstrongeconomics.com/2013/10/16/manipulation-is-it-a-matter-of-definition/

    Comment by sw — October 16, 2013 @ 3:14 pm

  2. Yes, it is. Martin has gg confused on this one.

    gg

    Comment by totallygroovygirlfriday — October 18, 2013 @ 10:28 am


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: