Wednesday, April 18, 2012

Spanish Banks Gorging on Sovereign Bonds Shifts Risk

Jim Sinclair is right:  QE to infinity is as sure as death and taxes.

http://www.bloomberg.com/news/2012-04-17/spanish-banks-gorging-on-sovereign-bonds-shifts-risk-to-taxpayer.html
Spanish, Italian and Portuguese banks are loading up on bonds issued by their own governments, a move that shifts more of the risk of sovereign default to European taxpayers from private creditors.

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