Bailouts | - Part 5

Merkozy “Dinner for One”

I don’t know about you, but when I watch this video with the heads of French President Nicolas Sarkozy and German Chancellor Angela Merkel superimposed on characters from a 1963 sketch that, for some reason, is wildly popular when broadcast on German TV on New Years Eve, I can’t help but think of those Saturday Night Live caricatures of German TV personalities somehow working behind the scenes.

This story at Spiegel Online has all the particulars about the video that has gone a bit viral, also known as “The 90th Rescue Summit” or “Euros for No One”.

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Is the Fed Secretly Bailing Out Europe?

It still pales in comparison to what was done a few years ago, but, at its current pace, the Federal Reserve’s generous central bank liquidity swaps now aiding European banks will soon rival that of the 2008-2009 financial crisis as shown below, another $37 billion being added last week to bring the total up to just shy of $100 billion.

For those of you new to this story, see this WSJ commentary by Gerald P. O’Driscoll the other day and his appearance on CNBC on the same subject.

End of the Road

Before stumbling upon the trailer, I hadn’t heard anything about the upcoming documentary End of the Road by Tim Delmastro, but, it appears to have real potential, what with the growing realization that all the bailout efforts from a few years ago simply kicked the can down the road and that, someday, that road will come to an end.

The film is basically a compilation of interviews with eleven individuals, most of the names being familiar to readers of this blog including G Edward Griffin
, Jim Puplava, James Turk, Jim Rickards, Peter Schiff, Eric Sprott, and Bill Murphy.

My guess is that the Federal Reserve, fiat money, and gold come up quite frequently.

Kyle Bass on CNBC

In a CNBC video that, apparently, had such demand earlier in the day that it was impossible to watch (at least I couldn’t), Kyle Bass of Hayman Capital talks about the inevitability of a breakup of the European monetary union.

He’s also not very hopeful about China as he discussed with BNN (see here and here).

BTW – Is it just me, or are those CNBC sound effects when they change charts just silly?

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