Calling Sherlock Holmes! Columbo! Inspector Clouseau! Some $2.6 Trillion dollars have been lent to Greece, Spain and Portugal. Where did it go? Who has it? Nobody knows!!! Such is life in the Euro Zone as it’s financial crisis drags on. The Euro itself has lost value and is now worth less than $1.20. For months, central banks, private banks and other lending institutions have been pouring money into the ailing economies of Europe suffering from the Debt Contagion. But due to limited transparency and bad accounting methods, where all of this $2.6 trillion dollars has gone is a mystery!

Analysts attempting to trace all of this bailout money are puzzled. The information is sketchy at best, despite so much of it being from public institutions. What is going on here is essentially a shell-game. Countries that are broke are lending money to other countries that are broke. How can broke nations lend money they don’t have to others? Now we’re getting to the heart of the mystery!

The truth is that in this era of fiat currency, it doesn’t really matter. Digital entries float from one ledger to another, from an asset to a debt, all in the blink of an eye. This giant shell game of financial mischief just keeps going on and on. Last Friday, even the American markets took a huge hit when Hungarian Secretary of State, Mihaly Varga, said that Hungary also looks to be on the verge of default with a Greek-like debt crisis. Blaming the previous administration, which seems to be the fashion these days, Varga alluded to “skeletons in the closet” and that their true debt exposure is far worse than previously thought.

This is the nature of the Debt Contagion. Governments, and both public and private financial institutions, have been playing fast and loose with their accounting for many years. Iceland was the first to go public with it’s problems. While not a member of the Euro Zone, the ramifications of it defaulting on its loans was the shot across the bow. Greece was next, which opened the door as to the weakness of the entire structure of the Euro Zone economies.

Now, even the big boys of Europe, France, Germany and the UK, appear vulnerable. The UK, which still has it’s own currency, is on the verge of being down-graded by bond rating firms. France came frightfully close to being pushed to the edge of default four weeks ago. Germany, long considered the strongest, soundest nation of the Euro Zone, may be a ticking time bomb of financial chaos.

So where is the $2.6 Trillion dollars of Euro Zone bailouts? Nobody knows! As the Debt Contagion continues to spread, I will wager that the amount of missing cash will increase dramatically. Furthermore, if their books are so far out of whack, just how accurate are those here in America and the rest of the world? I suspect that this will grow into the $700 Trillion dollar mystery by the time the Day of Reckoning occurs and the whole ugly, fiat monetary system comes crashing down!