Monday, November 28, 2016

An election causes banks to fail?

Business Insider: Eight separate Italian banks face the prospect of failure in the coming months should a "no" vote prevail in Sunday's nationwide referendum on constitutional reforms proposed by Prime Minister Matteo Renzi.
If "no" wins, which is currently looking highly likely — most polls put it around six points ahead of the "yes" camp — market turmoil and turbulence should follow, "officials and senior bankers" cited by the Financial Times on Sunday say.

Am I the only one who sees the absurdity of central banking?  Central banks cause starving in Venezuela and economic collapse in India. And central banks require helicopter drop every generation? Anybody get a picture here?

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