Super announcement.
The good news:
Major European banks will only lose 50% (half) of their investments in 'Grease' !! Stupendously terrific!
Because of the continuous algorithms on the super-computers, the US equities markets kept exact nanosecond pace with the Euro/US value as usual! (Don't forget, currency is traded with a 50:1++ leverage. You are smart folks, so you can work out the % math for yourse... well, you know.)
The bad news? Well:
Those banks will need to raise about 25% of the assets they just lost by sometime next summer... oh oh. You may want to "withdraw" from your account.
The American banks are already reviewing their losses-du-jour but don't have to tell you until later.
Oh yeah, the 4T "euros" to bail out the rest of So. Europe? Don't worry, lots of private investors simply cannot wait to get into that deal!! ha ha ha ha ha ha ha!
