Article

2011-02-18 Economy

Irish Banks Giving Unsecured Loans to Themselves

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Posted by Anguper Hupomosing9418 2011-02-18 01:12|| || Front Page|| [1 views ] Top

#1 Karl Denninger's summary of this situation: That's raw money printing which is supposed to be illegal in the EU.

It is identical to me printing up a $100 billion bond on my laser printer, putting my name on it as the issuer and the owner, and then saying "ok, I have $100 billion."

Posted by Anguper Hupomosing9418 2011-02-18 16:46|| 2011-02-18 16:46|| Front Page Top

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