is greek bailout really a us bank bailout?, page-4

Citigroup analysts estimate the total European bank exposure to the peripheral countries (both sovereign and private credit) at 2.3 trillion, of which German banks have about 615 billion and French banks 700 billion.

Loans to Italian borrowers total 770 billion; to Spain, 700 billion; Ireland about 460 billion; Greece about 200 billion.

So yes the exposure for about 1.3T is German and French

Who holds the other 1T in Europe is probably made up of Dutch, Swiss, UK and various other entities

it self evidently ridiculous to call to relate this to the US or Bernanke, the truth is the Europe has had an even worse money printing consumption and borrowing obsession than the Americans, the US dollar is going to zero , hyperinfation is upon us , money printing nonsense ignores the very fundamentals of central banking, all the money printing has already happend and its happened GLOBALLY!

The money was printed and printed and lent to the PIIGS by the European banks, this created the debt in the first place, more money printing just gets vaporized at this stage to keep the banks alive, to cause hyperinflation the money printing would have to be lent into the economy, IT CANT BE LENT INTO THE ECONOMY, because it already has been, more money printing now by the EU would simply be used to pay make sure these countries dont default, the conditions of them getting it would be the willingness to embrace austerity measures, the problem with that is that it doesn't change the fact they are bankrupt, which in turn bankrupts most of the major banks of Europe.

When the PIIGS go bankrupt it in turn bankrupts all the French and German banks, no doubt the German government will save these banks but they wont save the Euro, its the end of the Euro and the EU, this is massively massive massively deflationary. It is absolutely ridiculous to call for the implosion of the USD in these circumstances.

Austerity will sweep across Europe causing GFC 2 squared , the tsunami will then move across China and Japan, Japan is unlikely to survive this wave , eventually landing on our shores, the US will be the interim safehaven because despite folks pre dispositions its not in as much trouble as all the others

To make it worse THAT Crud Rudd just sent the white ants into the destabilize the entire Aust mining equity sector .

Like I mentioned in way back on November gold equity holders will be walking through the valley of death during GFC2 , make no mistake its much worse than GFC1, all the options have already been used