After the European banking system undergoes a comical $10 trillion write-down, all deposits will be wiped out. The contagion will spread to the United Steaks, effectively cutting off the municipal bond markets, bankrupting retarded ghetto cities, like Detroit and Cleveland.
All of Europe’s big banks will fold like cheap tents, carrying their markets down another 75% from current levels. Financing will be eliminated, which in turn will result in the bankruptcy of any company who depends on short term lending to finance day to day operations. Due to pension fund liabilities, small outfits like Lucent and General Electric will be wiped the fuck out.
Wait, it gets better.
We’re gonna finish where we left off in 2008, with shipping rates plunging by 99%. Counter party risk will be too tenuous to deliver goods. As a result, your local grocery stores and shopping mall will be wiped clean. You will have to resort to the ancient practice of cannibalism, in order to survive the barren winter months.
No matter how rich you are, your mortgage will default, unless you have cash tucked away in a vault. See after the great $10 trillion write down in Europe, $100 trillion in US derivative risk will be triggered, wiping out all of the money ever known to mankind. Every bank and brokerage firm in the Northern Hemisphere will be shuttered.
Banks will try to evict you just to procure the raw materials inside of your home. You will literally need to shoot the marshall from seizing your property, else end up homeless in the streets, where the police serve as warlords for local tribes– enslaving people to farm the streets of Manhattan.
The United Steaks government will collapse, set off by a tidal wave of secessions from southern psychopaths.
In the meantime, German inflation will be firmly under control.If you enjoy the content at iBankCoin, please follow us on Twitter