So much for the manic partying Wall Street did last week when it was announced Greek bonds would have a mere 50% write-down. (The more rational among us might inquire as to why the banksters found that massive haircut to be such a joyous occasion.) But the euphoria will be short-lived. Portugal just announced it needs lots of money, and bizarrely wants Mexico to tell us that.
Portugal asked Mexico on Saturday to tell fellow G20 members next week that the United States should offer “financial help” to resolve the euro zone sovereign debt crisis, describing it as a “systemic and global” problem
Portugal and the other debtor nations need to get Icelandic on the banksters. Call their bluff. Default. Nationalize the banks. Arrest the CEOs.
We can’t allow the Fed to take our money to bail out the banksters of Europe.