The FED refused to do what was necessary back in 2008 (take the necessary pain) and instead 'played for time'...and did pretty well in that regard, BUT 'kicking the can down the road' only bought them so much time.
Now it looks like Credit Suisse and Deutsche Bank are going to have their Lehman moment, and the economically ignorant and corrupt gooberments are certain to fubar this too.
COMING: The nationalization of banks, and a single digital currency for the former West.
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