by Karl Denninger
It’s quite amusing to read the talking-head nonsense coming out of the various quarters on Brexit, along with Merkel and other’s pontification this morning.
Let’s dispense with Merkel and the rest of the EU crowd first: They have continued to repeat that there can be no “free trade” access without allowing Brussels to ram down everyone’s throat millions of uneducated and culturally-incompatible “rapefugees.”
Let’s be clear with this: The reason that Merkel and the other “leaders” are so devoted to this issue is that they understand the fraud they have perpetrated on the entirety of Europe via their leverage (debt) games, especially in the periphery and the liabilities that has placed on institutions (banks) within their borders, along with what will happen to them when that inverted pyramid topples over. To be blunt Deutsche Bank is a smoking hole and so are a number of other banking institutions, probably including the ECB itself.