slade created the link to:

“The Beginning of the End Game.”

And said:

“I just have no words for this.”

The following was said in the linked article:

“The key problem on this side of the Atlantic is that the largest European banks have become not only too big to fail but also too big to be saved. For example, the total liabilities of Deutsche Bank (leverage ratio over 50!) amount to around 2,000 billion euro, (more than Fannie Mai) or over 80 % of the GDP of Germany. This is simply too much for the Bundesbank or even the German state to contemplate, given that the German budget is bound by the rules of the Stability pact and the German government cannot order (unlike the US Treasury) its central bank to issue more currency.”

I have no expertise in finance. I presume this means if Deutsche Bank folded then it would take down Germany with it. Therefore the ECB will have to bail out Deutsche Bank just as the Federal Reserve is bailing out the American banks. The Europeans will be in the same boat with the US with the taxpayers owning trillions of dollars worth of bad debt. It appears that a large fraction (most?) of the world’s banking system is being nationalized.