Those who predicted a W shape recession, with the double dip being far worse than the initial V, may be about to be Windicated, to quote Checkoff.

It looks as though all those derivatives and hidden bank losses are so weighty that the large banks througouth the world, which had exposure to the trilliosn of fraudelent dollars in these insane products are now clamouring for a seat in the now very stressed lifeboats of the ECB, US FED, and other central lifeboats.

What I find unusual is that all this talk, now including bailouts of banks in Spain, and the need role of central banks if all else fails, to nationalize the lager european banks, nobody is talking about the gold that these european nations still have. They may not have their own currencies to print, and have to go to the ECB for monetary policy moves, but as a last resort even Greece has gold.

Makes me wonder when they'll realize that there is gold there at all...

skeleg