Debt Jubilee for the Bankers Austerity for UsRory Hall This is exactly the point that our financial system has reached. The Hypo bank in Austria was recently declared to be a zombie bank. The government of Austria had previously bailed out (read: taxpayers money), Hypo bank, but the bank management thought they could beat the bookie and then pay off their debt if they could get one roll of the dice to fall in their favor. The dice had other plans and the gamble has not worked in Hypos favor. The problem with Hypo is they have all these government bonds on their books. The bonds are tied to the CDS and now we the world, that is are waiting to see if we are heading over the cliff or if the bankster mafia members are going to be able to work their magic and make the CDS go away. The only way the banksters were able to make the previous CDS crisis go away was to sacrifice Lehman Brothers and steal trillions of dollars from the American taxpayer. We will never be able to pay this debt. Ever. Debt jubilee, anyone? It seems we are sitting on the precipice of another global crisis. Will these gambling debts trigger defaults? We learned that some of the usual suspects are involved. According to The Telegraphs Ambrose Evans-Pritchard: In the above quote it appears the figures for most of the bond holders are missing. So, as of right now, the exposure to these financial weapons of mass destruction is unclear. They will be coming home and it will be a mess. We can only hope the criminals in charge have something of a plan in place to contain this nightmare. Oh, thats right they do. Bail-ins. The people that have exposure to the bank itself, depositors, creditors of the bank and people that hold Hypo Bank bonds, are currently at risk. We can only hope there are enough funds to pay the bookie, close the bank and contain the explosion. What about Greece and the rest of Europe? With Greece, once again, capturing headlines around the world we are rapidly approaching another major crisis. Greeces debt is not really the problem. While it is a significant amount of debt and Germanys Bundesbank certainly has a major stake in this particular game, the real problem lies with Spain, Italy and France. All three of these nation-states are in similar condition to Greece. These three also have rising political interests on both the right and left side of the political front. It is not a question of politics, it is a matter of sovereignty. The people of these countries want their sovereignty back from the monetary criminals at the IMF, Bank of England and the other thieves outside their country. We all need to keep a close eye on the unfolding events in Greece as they will determine the next step in the European Union experiment. Lets not forget that Russia has already approached Greece and China is no stranger to making deals with countries that will benefit their long term plans. How does gold and silver fit into all of this? Well, if you dont hold it, you dont own it. Gold and silver have, throughout history, held their value during times of economic crisis. We are certainly facing a continent filled with possible economic crises. This is to say nothing of the economic problems we face in the United States or the unending unconstitutional wars the US is waging around the globe. Stability? We havent spoke of stability in a number of years, unless you count President Obama and his attempt to soothe the masses with his shadow of crisis has passed nonsense. He failed to mention which specific shadow for which specific crisis. I believe we will find out, as the year progresses, the shadow has not passed but in fact has grown larger and darker. You can read more from Rory Hall at his site The Daily Coin, where this article first appeared. Dont forget to follow The Daily Coin on Twitter and like on Facebook . 