What Do $100 Billion Of Ponzi Bonds Mean? | ZeroHedge

What Do $100 Billion Of Ponzi Bonds Mean?

So Italian banks have issued about $100 billion of these ponzi bonds and even in this day, that is a big number.

Banks issue bonds to themselves. Then they get an Italian government guarantee. Then they take those bonds to the ECB and get money, which I assume they use to pay down other debt mostly.

The Italian banks and Italian sovereign debt markets are essentially becoming one and the same.

via What Do $100 Billion Of Ponzi Bonds Mean? | ZeroHedge.

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