Folks, this could get very nasty: an Austrian bank is about to collapse

[lucidity]

Hello Siblings,

In a nutshell, an Austrian bank is about to collapse!
6.7 Billion Euros worth of collapse.

One the one hand, I'm delighted that this time, joe public doesn't
get to foot the bill.

On the other hand, European banks are inter-dependent.
When one falls over, all the others go down too... like dominoes.
Winter might last all year.

http://www.zerohedge.com/news/2015-03-01/spectacular-developments-austria-bail-arrives-after-%E2%82%AC76-billion-bad-bank-capital-hol

Interestingly, Europe changed the rules about QE money printing just in
time for the ECB to start flooding Europe with 'funny money'
Anyone with savings in Euros... now's the time to buy Swiss francs or gold.

be happy

lucidity :-)

[yelik]

yes, looks like we're on count down to something going on in the financial markets, sooner or later. A major correction looks nearby

[boris]

no offense but, that is rubbish 6,7 billion € have austrian families/citizens in their socks

[Snowflower]

I'm a bit confused about what you are calling rubbish, Boris. The fact that the economy is in the process of collapse? That this Austrian bank is the first apparent domino from the Swiss Frank unpegging? That the system is so far over the cliff that the governments are losing their ability to prevent systemic collapse? The amount of money that 99.9% of the population happen to have hidden in their socks is completely irrelevant. In 2008 the world experienced the greatest wealth transfer in history. It is generally referred to as the "crash," along with the statement that "money was lost." It wasn't lost. It was transferred from the 99.9% to the .1%. It's about to happen again. Money will not be "lost." The people of Austria (99.9% of the population) will have money stolen from their private accounts and it will be given to the .1% who orchestrated the whole thing from the start.