{"id":17540,"date":"2016-02-09T11:47:28","date_gmt":"2016-02-09T16:47:28","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17540"},"modified":"2016-02-09T11:47:28","modified_gmt":"2016-02-09T16:47:28","slug":"day-of-reckoning-the-collapse-of-the-too-big-to-fail-banks-in-europe-is-here","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17540","title":{"rendered":"Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here"},"content":{"rendered":"
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Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here<\/a><\/h3>\n<\/div>\n
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\"Europe<\/a>There is so much chaos going on that I don\u2019t even know where to start.\u00a0 For a very long time I have been warning my readers that a major banking collapse was coming to Europe, and now it is finally unfolding.\u00a0 Let\u2019s start with Deutsche Bank.\u00a0 The stock of the most important bank in the \u201cstrongest economy in Europe\u201d plunged\u00a0another 8 percent on Monday<\/a>, and it is now hovering just above the all-time record low that was set during the last financial crisis.\u00a0 Overall, the stock price is now down a staggering 36 percent since 2016 began, and Deutsche Bank credit default swaps are going\u00a0parabolic<\/a>.\u00a0 Of course my readers were alerted to major problems at Deutsche Bank\u00a0all the way back in September<\/a>, and now the endgame is playing out.\u00a0 In addition to Deutsche Bank, the list of other \u201ctoo big to fail\u201d banks in Europe that appear to be in very serious trouble includes Commerzbank, Credit Suisse, HSBC and BNP Paribas.\u00a0 Just about every major bank\u00a0in Italy<\/a>\u00a0could fall on that list as well, and Greek bank stocks lost close to a quarter of their value on Monday alone.\u00a0 Financial Armageddon has come to Europe, and the entire planet\u00a0is going to feel the pain<\/a>.<\/p>\n

The collapse of the banks in Europe is dragging down stock prices all over the continent.\u00a0 At this point, more than one-fifth of all stock market wealth in Europe has already been wiped out since the middle of last year.\u00a0 That means that we only have four-fifths left.\u00a0 The following comes from\u00a0USA Today<\/a>\u2026<\/p>\n

The MSCI Europe index is now down 20.5% from its highest point over the past 12 months, says S&P Global Market Intelligence, placing it in the 20% decline that unofficially defines a bear market.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here There is so much chaos going on that I don\u2019t even know where to start.\u00a0 For a very long time I have been warning my readers that a major banking collapse was coming to Europe, and now it is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[63,12287,5983,281,8814,284,4901,802],"class_list":["post-17540","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banks","tag-day-of-reckoning","tag-economiccollapseblog","tag-europe","tag-european-banks","tag-european-union","tag-michael-snyder","tag-too-big-to-fail"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17540"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17540\/revisions"}],"predecessor-version":[{"id":17541,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17540\/revisions\/17541"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}