I link to another article below mostly because it features in one of its paragraphs a SIGNIFICANT $12 TRILLION U.S. and EUROPE INTER-LOAN/BANKING connection and helps to explain WHY European countries are/were SO unhappy with Trump's s-election.
Altho $2 Trillion more than a figure used in earlier post, just below this one, from a caller to C-Span, which I extracted, it is close enough.
What's a trillion more or less, here or there, between friends??
First, paragraph from link below to which I refer:
"...As I reported last week, the epicenter of the illiquidity shock to the
banking system is American banks’ dollar loans to European banks, a
vulnerability first flagged by the Bank for International Settlements in
its September 2017 Quarterly Report. With $12 trillion in outstanding
net liabilities to American banks, European banks faced a funding
squeeze gauged by the so-called cross currency basis swap – the cost of
swapping Euro or yen cash flows for dollars...."
FROM:
https://asiatimes.com/2020/03/how-many-tarps-does-it-take-to-cover-a-crisis/
Then, see my other post, NEWS FLASH, just below to which I refer with a 10 Trillion figure.
AND, FOLLOW ALL THREADS, PREVIOUS ENTRIES, BACKWARDS, AS WELL.
PLOT THICKENS!!
https://karlmarxwasright2.blogspot.com/2020/03/news-flash.html
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