losetup can't establish loop during boot

[heiko at kallisti.de (Heiko Groß)]

Hey,

here the errorstring before I get dropped to my busybox prompt:
SQUASHFS error: sb_bread failed reading block 0x0.
I don't know why I cannot use gpg, I probably have to extract my 
initramfs and copy the needed binarys to it and repack it. I'm not sure
Hopefully someone knows how to handle this kind of problem.

Greets

Heiko