Fear can freeze a deer in the headlights of a car, cause a grizzly bear to flee at the sound of a loud noise, or cause a consortium of international banking interests to start having heart palpitations. Recent interviews with highly-placed officials in a number of European and South American banking circles indicates a new, almost irrational fear that is beginning to rise among them. It’s not about inflation, depression or recession, but it is so frightening to these individuals that they are being driven to talk about something they typically never talk about.
