by John Galt
March 8, 2012 22:15 ET
The problem with a Ponzi scheme is that eventually someone gets angry enough to see the con for what it is and asks where the money really is.
Welcome to the PECB, the Ponzi European Central Bank.
Ambrose Evans-Pritchard has addressed this issue in his column tonight in the U.K. Telegraph:
(click on the title above to access article in full)
As the Greece insolvency crisis continues despite the bond laundering scheme dreamed up by the banksters to insure the taxpayers of Europe repay them on the backs of Greek citizens for their own avarice and errors, Portugal and Ireland watch with a jaundiced eye as they are told the privileges of indentured servitude will not be extended to their countries as it was for the Hellenic Republic.
Take a moment, click on the link above and read the story that basically warns anyone with common sense that the European debt crisis is far from over and all it will take is one investor, one bankster, or one black swan to cause the Ponzi scheme to collapse and make the Lehman incident look minor by comparison.