Pierre Cloutier: US Dollar will Crash, US & Others Will Finally Follow Iceland Lead and (Hopefully) Strip Banks of All Their Assets While Insuring Bottom-Up

03 Economy, Civil Society, Commerce, Commercial Intelligence, Corruption, Government
Pierre Cloutier
Pierre Cloutier

Very good analysis here.

GEAB N°72 is available! Global systemic crisis – Second half of 2013: The reality or the anticipation of the Dollar collapse obliges the world to reorganize on new fundamentals


Bank failures: Towards an « Icelandation » of the banking crisis’ management

In the face of this shock, our team estimates that most countries, including the United States, will approach management of the crisis in an “Icelandic style”, i.e. not to bail out the banks and to let them collapse (16). We have already had a glimpse with the liquidation of the Irish bank IBRC which has given many people ideas: “How Ireland liquidated its banking albatross in one night” headlined La Tribune (17) admiringly. This possibility seems to increasingly be the solution in the event of the banks backsliding, for the following reasons: first, it seems much more effective than the 2008-2009 bailout plans judging by Iceland’s recovery; second, countries don’t really have the means to pay for new bailouts anymore; finally, one can’t deny that it must be a big temptation for leaders to get rid in a popular fashion of part of the debts and “toxic assets” which encumber their economy.

Read full article.

Financial Liberty at Risk-728x90