Posted on 09/19/2011 4:59:38 PM PDT by Kartographer
In a shocking representation of just how bad things are in Europe, the FT reports that major European industrial concern Siemens, pulled €500 million form a large French bank, which is not BNP and leaves just [SocGen|Credit Agricole] and deposited the money straight to the ECB. The implications of this are quite stunning, as it means that even European companies now refuse to work directly with their own banks, and somehow the ECB has become a direct lender/cash holder of only resort to private non-financial institutions!
(Excerpt) Read more at zerohedge.com ...
I think that the mods want the original source and article posted (maybe bloomberg copyright problems?) rather than the zerohedge take on the article. I follow zerohedge and the ticker guy, myself.
Actually the line is based on the words of a ancient Jewish sheepherder name Amram who told his neighbor: “Lighten up Noah, you are getting to be a dark cloud.”
LOL!!
You’re right to be cynical of these threads. The economy is really stable and nothing bad could happen.
The world ends tomorrow.
Siemens moved deposits from French bank to EC: Financial Times
http://www.reuters.com/article/2011/09/19/us-siemens-ecb-idUSTRE78I6Q420110919
what isnt’ a blog?
[Too late to stop any of it. ]
Yup. I was trying to explain what is about to happen here in the US to some Freepers, but they claimed I was unpatriotic for getting my money out of Dodge. No good deed goes unpunished.
Thanks, driftdiver.
driftdiver wrote:
http://www.freerepublic.com/focus/f-news/2780782/posts Siemens shelters up to €6bn at ECB
To others watching this thread, the original article behind that blog post from ZeroHedge is posted at http://www.freerepublic.com/focus/f-news/2780782/posts.
If only the ECB were defined.
Ruh-roh, Raggy.
Thank you for the ping.
“Toilet paper may be worth more than the 1 year bonds.”
Not if you can get actual printed bonds. Rough, but sturdy paper, often has very nice engraving.
bttt
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