JUBILEE DISASTERS ARE SINKING EUROPE FAST AS ITALY UNRAVELS AND DEUTSCHE BANK COLLAPSES
SilverDoctors.com
July 13, 2016
What we will see in Europe will just be a rolling series of crises that could leave the entire EU in ruins. And it’s not just the EU. It’s not just America or China. It’s the whole word that is headed over the edge of the precipice.
That’s one reason gold and silver are up so sharply and will surely continue to rise.
And as I’ve often pointed out, we’re not even at the end of the Jubilee year yet.
As October looms, things are going to get even more tense and chaotic…
Submitted by Jeff Berwick, The Dollar Vigilante:
There is much going on in Europe and most of it very bad. When we add what’s going on in Europe to what’s happening in Britain, the US and China, we end up with a comprehensive portrait of a world plunging off a precipice.
Of course if you’ve been visiting us regularly, you’re quite aware of the disasters of 2016. They are a continuation of 2015. We’ve been warning about it tirelessly for over a year now.
I first realized what was on the way when I began researching Shemitah. There was a pattern of crashes and panics associated with Shemitah years going back for decades. And the same thing has occurred with Jubilee. We’re more than halfway through Jubilee 2016 now and anyone with eyes to see can tell that this is an unusually chaotic and volatile year – just as we predicted.
In this article, we’ll focus on Europe’s challenges – and disasters. A lot of the unraveling is being triggered by problems in Italy and Germany.
The country’s economic system is about to collapse along with its failed banking system which is so overloaded with debt that it can’t survive without a huge government bail out. Italy’s non-performing bank loans are over 20% of GDP. The country’s public debt is above 130% of GDP. An EU-approved plan earlier this year to restructure the banks has stalled.
There’s talk now of balancing the budget with corporate tax hikes and also of setting up a “bad bank” that can remove the worst investments from the rest of the banking sector. But these actions need to be done quickly.
They are considerably complicated by the EU’s authority over Italy and, not to mention, will not actually fix the problem. An increase in corporate tax hikes would further destroy the economy and major businesses would see decreases in sales and/or move out of the area. And a “bad bank” is essentially just an accounting gimmick to make things appear better but fixes nothing.
The Rest…HERE
