Lost in all the noise about 999 plans and 50 Points plans and Sigmas and whatever other is a fact that no one seems to be talking about:
$1.2 TRILLION in US corporate assets are currently being held in foreign banks. You know, those foreign banks that are about to start popping like a string of firecrackers.
These are cash assets US corporations have left overseas because of the US's extortionate taxes if they are brought back into the country.
If the US companies tried to pull them out now it would probably begin the collapse. It may not even be possible to pull them out in time, with the European economy's future being measured in weeks if not days by many analysts.
If the US companies did bring the cash back now, they would take a 1/3 hit in the assets. That would be enough to push a lot of institutions under.
If they don't bring it back, it all goes away when, not if, the Eurobanks collapse.
So all the fancy plans you hear about. Forget them. They're obsolete already.
What we need in a leader is not a PowerPoint presentation, but the character and values to stand up and face the coming crisis.
