A MUST LISTEN: Bob Chapman : Every major Bank in The US and Europe is Broke

Bob Chapman on The Sovereign Economist 16 June 2010

From The International Forecaster of the 16th June 2010 : "US banks are fighting to preserve the use of securities that help them appear better capitalized, even as their investments in each others notes perpetuate what one regulator calls a downward spiral of losses. The cross-ownership, largely unnoticed by bank supervisors who generally discourage the practice, was made possible by a Wall Street innovation like the ones that allowed subprime mortgages to flourish. Small lenders were able to sell trust-preferred securities, known as TruPS, because investment bankers packaged them with those issued by dozens of other financial institutions."

What is The Great Credit Contraction?

The Great Credit Contraction. The printing presses cannot cope with all of this.