"The bravest are surely those who have the clearest vision of what is before them, glory and danger alike, and yet notwithstanding, go out to meet it."
– Thucydides, 471 B.C.
Dear CIGAs,
We have come a long way thanks to our leaders of industry and financial paper shuffling.
‘A RECIPE FOR DISASTER’
by Egon von Greyerz
Take the following ingredients:
A banking system which is on the verge of collapse
Add a few $ trillion of government liquidity and guarantees
Inject $ 100′s of billions in loans and capital
Keep all the bank management that have caused the crisis
Pay them astronomical bonuses because otherwise they might be snapped up by a
bankrupt competitor
