EuroBanks Keep On Lying. Most Are INsolvent. What's That Citibank? More Fraud!

More reports from Europe that French banks are teetering on the brink of insolvency. This is being reported by Deutsche Bank 6 days in front of the G20 meetings that are supposed to come out and tell us how they are going to recapitalize Euroland Banks. Please note that when any government tells you they are going to "recapitalize" the banks, they mean they are going to steal the money from you to prop up their banking buddies and royally screw you, the taxpayer. Moody's also issued its' annual credit report on France and it wasn't pretty.

"Moody's notes that the government's financial strength has weakened, as it has for other euro area sovereigns, because the global financial and economic crisis has led to a deterioration in French government debt metrics -- which are now among the weakest of France's Aaa peers."

"But very high debt finance-ability in an uncertain financial and economic environment, which is a crucial feature of Aaa governments, rests on investors' confidence in the government's ability and in its willingness to tackle unforeseen challenges. France may face a number of challenges in the coming months -- for example, the possible need to provide additional support to other European sovereigns or to its own banking system, which could give rise to significant new (contingent) liabilities for the government's balance sheet."

"Over the next three months, Moody's will monitor and assess the stable outlook in terms of the government's progress in implementing these measures, while taking into account any potential adverse economic or financial market developments."

Bloomberg also is reporting that Moody's is going to downgrade specific French banks BNP Paribas SA (BNP), Societe Generale SA and Credit Agricole SA (ACA). These are the largest banks by market value and are in trouble because of their exposure to Greek paper.

Along with Deutsche Banks announcement that French Banks are tanking and Credit Suisse claiming that at least 66 other banks in Euroland will fail the 3rd round of stress tests, one could argue that everyone is piling on France.   Why they all chose today to announce that France is the new Euroland country to fall is a curiosity. However, what they are telling us, in their quaint old country stylings is that Euroland Banks are going to go Boom! I'm sure that they will all remind you that they told you so!

Across the pond, Citibank announced earnings that beat Wall Street estimates by .03 cents. What they didn't tell you, and the cheerleaders on
CNBC & Bloomberg don't tell you, is that Citibank beat the earnings estimates because they cheated. They used an accounting trick to increase their paper earning by .73 cents. There is no additional cash flow
to explain these "profits" from their business model. I don't understand how our government and the SEC let these lying banks and Bankers
fraudulently claim profits when there are none! How can this happen?  The good people at Zero hedge explain it quite well here.....Citi Earnings Bloodbath: $ 3.8 Billion Is really $0.5 billion. Lots of nice charts and pictures explaining that Citibank, like JP Morgan and Morgan Stanley have all lied, abet legally, on their recent earnings reports.


And if all of this seems way to deep for you to wade through, take a look at how Dave @ The Golden Truth explained the fraud.


Still think it is safe to play on Wall Street?


Still think we have a representative government that will protect us from these thieving snakes?  


Time to start thinking again!