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...First half of 2012: Decimation of Western banks
In fact, it will be a triple decimation culminating in the disappearance of 10% to 20% of Western banks over the next year:
. a decimation of their staff
. a decimation of their profits
. and lastly, a decimation of the number of banks.
It will be accompanied, of course, by a drastic reduction in their role and importance in the global economy and directly affect banking institutions in other regions of the world and other financial operators (insurers, pension funds ...).
... With the global recession now under way, the drying up of capital flows to the United States and the United Kingdom as a result of the geopolitical and economic changes under way (16), the huge financial losses in recent months, and all kinds of regulations which gradually "break" the super-profitable banking and financial model of the 2000s, the heads of major Western banks have no choice: they must, at any price, cut their costs as quickly as possible and deeply. ...
...we see that every six months or so Western bank leaders find that they had underestimated the extent of the problems and are therefore obliged to announce further mass layoffs. With the political and financial “perfect storm” looming in the U.S. for next November and December, LEAP/E2020 anticipates a new series of announcements of this kind from early 2012.
...one can say that the Western banking market, significantly reducing its scope and the number of players in this market, has to downsize proportionally. In some countries, especially those where the very large banks account for 70% or more of the banking market, it will inevitably lead to the disappearance of one or another of these very large players ... whatever their leaders, stress tests or rating agencies say. ...
Originally posted by projectvxn
When this blows up in the EUs face I think the end of it all is going to be a BIG, hot, unavoidable war.
Mark my words, and keep those rifles clean.