If the situation in Europe is bad, how would we know? This is not as simple as you may think. The economic collapse that is inevitable is so bad that we are being shielded from its reality by our politicians and media. The following excerpt from an article by Graham Summers gives a little perspective. The impact on the collapse of the Euro and European Union will be felt in the United States within a few days of their demise.
How much time do you have to prepare? The governments across the world are building their gold reserves now. Gold is up $50/oz. in the last 36 hours. These two facts show that time is short.
David DeGerolamo
I Just Got Back From the EU… and It’s Worse Than You Imagined
Make no mistake, the situation in Europe is bad… How BAD? Well, France, Spain, and Germany have ALL implemented border controls.
That’s not a typo. 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.
The US 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.
“So what?” You might say. “The EU won’t affect the US or other banking systems.”
WRONG.
According to Reuters once you include Spain and Italy as well as Credit Default Swaps and indirect exposure to Europe, US banks have roughly $4 TRILLION in potential exposure to the EU.
To put that number in perspective, the entire US banking system is $12 trillion in size.
Heck, no less than Ben Bernanke, Mr. “the sub-prime crisis is contained” has publicly admitted that if the EU goes down, it will potentially take the US with it.
Make no mistake, what’s coming will be bigger and worse than 2008. We’re talking about bank holidays, civil unrest, and the worse.
On that note, if you have not taken steps to prepare for the end of the EU (and its impact on the US and global banking system), you NEED TO DO SO NOW!
I AGREE -- WE HAVE BEEN WARNED. Prepare now, or face the music, soon…
LT