Is the World Spinning Out of Control?

Monday, December 5, 2011
By Paul Martin

Greg Hunter
USAWatchdog.com
5 DECEMBER 2011

More Europe bailout news. Last week, the world was elated with news that the Federal Reserve and five other central banks got together to prop up Eurozone banks drowning on sour sovereign debt, but the crisis is far from over. The latest scheme is for countries to trade sovereignty over their budgets in return for more bailout money. The Sunday Times is reporting the ECB is putting together €1 trillion that will be used for a “colossal” intervention in European bond markets. The paper goes on to say, “The cash injection will only be carried out if leaders can agree on handing over more fiscal control to the EU and for strict controls to be imposed on nations struggling to control their debts.” (Click here for more.) Ann Barnhardt, an outspoken commodities brokerage owner who shot to notoriety because she closed her doors in the wake of the MF Global bankruptcy, says it will take much more than €1 trillion. Barnhardt thinks the MF Global implosion and coordinated action by central banks is an early sign of systemic failure approaching. In an interview last week, she said, “Europe is done. Europe is mathematically impossible. It cannot be saved. You even want to make a start at trying to bail out Europe, we’re talking $25 trillion JUST TO START…we’re in excess of $100 trillion to bail out Europe.”

The Rest…HERE

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