Jim Rickards on the Euro bail out

http://www.cnbc.com/id/15840232?play=1&video=1489946246

"Look at what Soros did to the Bank of England in 1992 - he went after them, they had a finite amount of dollars, he was selling sterling and taking the dollars, and they were buying the sterling and selling the dollars to defend the peg. All he had to do was sell more than they had and he wins. But he needed real money to do that. Today you can break a country, you don't need money you just need synthetic euroshorts or CDS. A trillion dollar bailout: Goldman can create 10 trillion of euroshorts. So it just dominates whatever governments can do. So basically Goldman can create shorts faster than Europe can create money."

- Jim Rickards

This is why the Club Med Euro countries will circle the drain. In fact, any country's finances are vulnerable to attack--including the UK, Japan, and the good ol' USA.