Tuesday, October 4, 2011

Germany to Eurozone: Aufedersein!

And now this, from Dr. Pippa Malmgren:  News to expect in the coming days and weeks:  Greece defaults.  Germany protects German banks but other countries cannot do the same - thus quickly provoking multiple sovereign defaults and/or bank failures, all of which may easily lead to a payments crisis in the global banking system.  Derivatives are particularly at risk in terms of operation and execution.  The Euro falls in value, especially against the US dollar.  The Germans announce they are re-introducing the Deutschmark.  (They have already ordered the new currency and asked that the printers hurry up.)  The Euro falls even more on any news that Germany is withdrawing from the Euro. Legal wrangling begins as to the legality of Germany’s decision.  (Resolution takes years.)  Germany insists that the Euro continues to exist even they do not use it any longer.  They emphasize that European unification will continue and suggest new legal instruments to strengthen European unification including new EU Treaties.  (Read Dr. Malmgren's full article (well worth it!) and her biography.)

The Good News:  Don't just sit there, take some action while you still can!  The specifics tomorrow.