Founder Of $30 Billion Hedge Fund Says Euro Banks Insolvent, Euro Situation Much “Worse Than 2008″!

[youtube=http://www.youtube.com/watch?v=lvuZ7CQIkJo]

• A global economic, financial and monetary meltdown is coming in 2012. The Illuminists will pull the plug on the current system and lead the world to world war! They are employing their Hegelian Dialectic: Problem, Reaction and Pre-Planned Solution to destroy the current order, to bring about total chaos and finally to launch their Luciferian New World Order. This is their Order Out of Chaos, Satanic mindset. The financial detonations will start in the PIIGS, radiate across Europe, UK, Japan … and finally America. The entire world system will implode. Asia will not be spared ! Got physical gold/silver yet?
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  Founder Of $30 Billion Hedge Fund Says Euro Banks Insolvent, Euro Situation Much “Worse Than 2008″! 
  by www.ZeroHedge.com
  The Founder of one of the world’s largest asset managers, the $30 billion hedge fund BlueCrest, Michael Platt, spoke to Bloomberg TV and cut right to the chase, saying most of the banks in Europe are insolvent and the situation in the region is “completely unstable.” On how he approaches market risk: “”I do not take any exposure to banks at all if I can avoid it.  All the money at BlueCrest Capital Management is in Two-Year U.S. government debt, Two-Year German debt, we have segregated accounts with all of our counterparties.  We are absolutely concerned about the credit quality of the counterparties.” On investing in illiquid assets, Platt said he “would not touch them with a barge pole” and that “the major opportunities will come post-blowout.” Something tells us Russia and China know this all too well, and realize that the best time to “invest” in Europe is after the single (or multiple) bankruptcy. Which incidentally, as Kyle Bass said yesterday, after the “blowout” is when the ECB will finally step in as well, at which point the entire world will go all in on that now infamous 2-7 offsuit. And his view on how that bluff will end: ‘In my opinion, what’s going on now is significantly worse than 2008.”
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  Platt on Europe’s sovereign debt crisis:
  “The level of concern of what we have about what is going on in Europe is absolutely huge.  When you evidence all over the markets that they are pricing for the potential of the eurozone break up, it is contrary to what everything is set by policy makers and by central bankers. We distill it down essential fact that we continue to focus on at BlueCrest Capital Management – if you look at the debt of Italy at 120% of GDP, which is increasing at a real rate of 5%, and if you look at the GDP, which now is forecast next year to be declining, arithmetically their debt is going to blow up.  And we don’t see anything happening at the policy level that gives us any indication that there’s anything that’s going to convert this situation from where it is now to a much more substantial and real crisis in the future.”
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  On whether a blow up of Italy will force a breakup of the Eurozone:
  “We need much more radical measures to prevent this from happening.  If Italy and Spain are forced to roll their debt over, if they have to pay rates between 5 and 7% for this, then the situation in Europe is unsustainable.  We’re not going to have any euro bonds, we’re not going to have a full political and fiscal union where the transfers will take place.  It seems what we’re going to have is an attempt to control the European situation through continued austerity, which is pro-cyclical.  As the economy slows down, we end up with more austerity which creates more slowdown.  We also have a requirement for banks to increase capital, therefore we’re looking at a 3 trillion euro takedown in European balance sheets.  There’s basically nowhere I can see where we can get any growth from.”
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  … for more click here!

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