| The biggest financial disaster nobody is talking about | |
Stephen Jen of Morgan Stanley says Eastern Europe has borrowed over $1 trillion from Western European banks. The leverage and exposure involved here is incredible… it's a bigger threat than the U.S. subprime debacle… and it could rip apart the European Monetary Union. The biggest, bloodiest battle in human history took place in the Russian city of Stalingrad (World War II). Over 1 million people died in the battle. In a modern day monetary version, it looks like Eastern Europe/Russia will be the final resting place for hundreds of billions of dollars. Read full article... | |
| Topics: |  | Russia | Europe | Currencies |
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