Debt woes in Greece have sent bond yields soaring and increased the prospect of sovereign default. A restructuring of Greek debt will deal a blow to lenders in Germany and France that are insufficiently capitalized to manage the losses.
• Paul Krugman’s Welfare-State Fallacies
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• The Unbelievably Rampant Corruption On Wall Street
• Today’s Unprecedented Swiss Bank Intervention Driven By Massive Capital Flight From Germany To Switzerland; Result Was Euro Surge
• Cramer: Europe to Collapse in 48 Hours – or Never
At a recent Council on Foreign Relations speech in Montreal, co-founder with David Rockefeller of the Trilateral Commission and regular Bilderberg attendee Zbigniew Brzezinski warned that a “global political awakening,” in combination with infighting amongst the elite, was threatening to derail the move towards a one world government.