Reply to: Bank crisis in Italy may spark ‘doom loop’ for UK, warns Bank of England

[minestrone]

Does anyone actually work south of Rome?

[darmstadt]

How can you be so stupid, as to think the UK is in the Eurozone?

It's not difficult when your motto is: "Stupidity is the deliberate cultivation of ignorance" although I personally suspect he doesn't even have to cultivate it, it's a trait of the lemming people...

[AtW]

How can you be so stupid, as to think the UK is in the Eurozone?

Uni of Life, even though looks like he dropped out from it ...

[Old Greg]

Well who better to point that out than a simpleton like you?

Well done........owning up can be a powerful first step!

How can you be so stupid, as to think the UK is in the Eurozone?

[shaunbhoy]

Ignorance is bliss...

Well who better to point that out than a simpleton like you?

Well done........owning up can be a powerful first step!

[Yorkie62]

But I thought (i.e. know, but I'm being facetious because you're selectively reporting stuff) that Italy had stockpiled gold over the last ten years and had plenty of savings so we don't need to worry about them any more?

Take your duplicitous reporting and shove it.

I thought Italians and the Germans had been stockpiling Gold as far back as the late 1930's, early 1940s. It's a bugger though when you can't remember where you buried it

[scooterscot]

Lehmans squared?

Think so... Lehmans final years leading up to bankruptcy and Deutsche below, you could almost sit the graphs on top of each other. Germany does not have trillions to pay Deutsche derivative debt. When the derivatives go belly up watch the Gold ETFs do the same thing, then the price of gold rockets to $9500, where it should be if paper gold did not exist. Blockchain, probably Ethereum, will then be used to record and ensure future derivatives are honoured.







Last ten years of Deutsche Bank

[GreenMirror]

Deutsche Bank and its derivatives market exposure should be the talking point. Quite certain the German government will not step in to save the bank if it goes under. As it should be.

Lehmans squared?

[darmstadt]

But not until after it has decimated the French and German systems............by which time we will no longer be part of the Eurozone.........oh dear, how sad, never mind.

Still, as we, one of the main contributors to the whole EU circus will have pulled our funding by then, I am sure the French and German contributions can simply be hiked accordingly to make up any shortfall.

Ignorance is bliss...

The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

[Hobosapien]

EU monetary fund to save EU banks by tying in countries with less exposure to share the risk.

Merkel wants European Monetary Fund with national oversight - sources | Reuters

Time to get out before a few billion net a year is no longer the entry fee.

[shaunbhoy]

Bank officials are concerned that problems affecting Italian lenders could spread across the Eurozone and eventually be transmitted to the UK economy through French and German banks, which have massive exposure to Italy.

But not until after it has decimated the French and German systems............by which time we will no longer be part of the Eurozone.........oh dear, how sad, never mind.

Still, as we, one of the main contributors to the whole EU circus will have pulled our funding by then, I am sure the French and German contributions can simply be hiked accordingly to make up any shortfall.

[scooterscot]

Deutsche Bank and its derivatives market exposure should be the talking point. Quite certain the German government will not step in to save the bank if it goes under. As it should be.

[Mordac]

Bank Of England predictions face serious credibility devaluation.

Or maybe not...

[AtW]

But I thought (i.e. know, but I'm being facetious because you're selectively reporting stuff) that Italy had stockpiled gold over the last ten years and had plenty of savings so we don't need to worry about them any more? Take your duplicitous reporting and shove it.

Italy's debt is 2.3 trillion euros.

Italy's gold reserves are close to 2500 tons, valued at current spot price of (34k EUR per kilo) is 0.085 trillion euros - dumping so much gold would crash price, so they'll never sell it for even that much.

Do you see a problem there?

[TwoWolves]

Euro-Zone credit crisis at 12 O'Clock. I've been expecting you.