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deja vu – Austria All Over Again

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Credit Anstalt

The bank that failed and began a run that resulted in the collapse of Europe debt markets back in the Great Depression was Credit Anstalt in 1931. The Rothschilds were part owners so the news was quite devastating. Here we are again with the Austrian banks in trouble and the next crisis to emerge may now be more north. The crisis in Austria will most likely begin to be felt in Germany. So keep an eye on the events in Austria as then played a key role in 1931.