[AnAmericanAbroad]

I agree that Italy is “too big to save”.

For me, the question is will a systemic banking failure trigger an EU-wide systemic banking failure (owing to European banks being generally quite under-capitalized) which in turn triggers a global systemic banking failure?

That’s the SHTF moment. And as the Circle Jerks once sang, “’We all gotta duck when the s**t hits the fan’”.

[Fee]

Wall Street Bankers are assuring the US public that they are financially strong to withstand the EU shock waves. What they don’t tell you is how much derivative exposure they have on the books that can incur heavy losses if their leveraged schemes go wrong like MF Global. Many of these derivative schemes are hidden and off the books until they implode. In these times trust no bank.

[Principled]

For me, the question is will a systemic banking failure trigger an EU-wide systemic banking failure (owing to European banks being generally quite under-capitalized) which in turn triggers a global systemic banking failure?

How does the US ability to print more money factor into this?