QUESTION: Mr. Armstrong; You have warned that the European bank stocks were in real trouble. They have really collapsed. But you do not comment on them that often....
The European banks are in much worse shape than their US competition. The reason being argued in Europe is that the US government imposed a ban on speculation...
The motto of the ECB is plain and simple: why reform when we still have some power? Governments will fight until the last drop of blood is spilled; they assume it...
