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Torplexed · 12-11-11, 10:32 AM

Events are heating up in Britain vs the Continent. Various Euro officials are making some hot comments indeed about Britain needing to be punished, isolated, taught a lesson (I've seen the old "perfidious Albion" being used more that once. ). Ambrose Evans-Pritchard on the British side absolutely blows his stack here:

http://blogs.telegraph.co.uk/finance...m-flam-treaty/

So that's heating up. And here's some more on the banking system stress:

http://www.telegraph.co.uk/finance/f...-collapse.html

Bloomberg:

http://www.bloomberg.com/news/2011-1...akup-risk.html

It's clear capital flight has started. The next step will be capital controls, with various countries under stress enacting emergency measures to keep money inside their borders. It's sort of the captain trying to stop the rats from leaving the ship. The threat of such controls will only increase the impetus to get out before it's too late. But from the stand point of the country involved, it's death for it's banking system if they don't stop it.

12-11-11, 10:32 AM	#52
Torplexed Let's Sink Sumptin' ! Join Date: Dec 2001 Location: Seattle, WA Posts: 5,823 Downloads: 43 Uploads: 0	Events are heating up in Britain vs the Continent. Various Euro officials are making some hot comments indeed about Britain needing to be punished, isolated, taught a lesson (I've seen the old "perfidious Albion" being used more that once. ). Ambrose Evans-Pritchard on the British side absolutely blows his stack here: http://blogs.telegraph.co.uk/finance...m-flam-treaty/ So that's heating up. And here's some more on the banking system stress: http://www.telegraph.co.uk/finance/f...-collapse.html Bloomberg: http://www.bloomberg.com/news/2011-1...akup-risk.html It's clear capital flight has started. The next step will be capital controls, with various countries under stress enacting emergency measures to keep money inside their borders. It's sort of the captain trying to stop the rats from leaving the ship. The threat of such controls will only increase the impetus to get out before it's too late. But from the stand point of the country involved, it's death for it's banking system if they don't stop it.