The European Central Bank (ECB)
will kick its money printing presses
into overdrive and very, very soon.
Chris Martenson said:
Well, my hat is off to the global central planners for averting the next stage of the unfolding financial crisis for as long as they have. I guess theres some solace in having had a nice break between the events of 2008/09 and today, which afforded us all the opportunity to attend to our various preparations and enjoy our lives. Alas, all good things come to an end, and a crisis rooted in too much debt with a nice undercurrent of persistently high and rising energy costs was never going to be solved by providing cheap liquidity to the largest and most reckless financial institutions. And it has not.
Graham Summers, of Phoenix Capital Research, just back from Europe says:
The situation in Europe is bad How BAD? Well, France, Spain, and Germany have ALL implemented border controls. Spain, France, and Germany can each close their borders for up to 30 days at any point if they so choose. Why are they doing this? Because they know that when the stuff hits the fan and the EU collapses (which it will in the next few months) people are going to attempt to flee with their money so they have made it so that no one can get it and no one can get out,
A 1 billion run [$1.28 billion] on a recently nationalized Spanish bank has sparked further fears that the 17-nation eurozone is about to implode. The U.S. media has completely ignored this story because the implications are truly horrifying: that the EU and its banking system could very easily collapse in the coming months. After all, there are already bank runs taking place in Spain and Greece. Once things pick up steam NO ONE will be immune. No less than Ben Bernanke has publicly admitted that if the EU goes down, it will potentially take the U.S. with it. Make no mistake, whats coming will be bigger and worse than 2008. Were talking about bank holidays, civil unrest, and the worse, said Summers.
You think this is all to be taken lightly? The Italian government does not think so and has deployed 20,000 law enforcement officers to protect individuals and sensitive sites.
The government increased security last Thursday at 14,000 sites, and assigned bodyguards to protect 550 individuals after a nuclear energy company official was shot and letter bombs directed to the tax collection agency.
Our modern civilization is vulnerable from a number of different angles and the insanity of the elite and centuries of financial manipulation and control are smashing against the wealth of the masses and the very structure of society.
Financial Armageddon is inching closer and closer. The future for the first world is already being written in Spain and Greece and even California, places where the money is running out big time. And the volcanoes and earthquakes just dont stop. They just dont stop and the reports keep coming in.
John Rubino said, Europes leadersthat is to say German Chancellor Angela Merkel and the bureaucrats running the various eurozone agencies from Brusselshave looked into the abyss and dont like what they see.
Specifically, a default and departure by even a relatively insignificant country like Greece might start a contagion that cripples or destroys the whole eurozone.
Paul Brodsky says, The only way to deleverage is either to let credit deteriorate or to print money. Clearly the politically expedient way of deleveraging is to print money. Central banks can chatter all they want about not wanting to print money or wanting to keep the integrity of their currencies, but, at the end of the day, they dont really have a choice.
They either have to manufacture more electronic credits and put them in the banking system or they have to let their banking system fail. That is just the reality. There is one interconnected banking system and they all have claims with each other. If German banks end up in difficulty, it presents problems for U.S. banks.
California Gov. Jerry Brown (D) has some bad news: His cash-strapped state isnt $9.2 billion in the hole, as projected in January; the Golden State is actually facing a yawning $15.7 billion shortfall.