As The Wealthy Panic We Will See Tsunamis In All Key Markets
March 24, 2013
Today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, warned investors, “If the wealthy panic as a group, we will see the equivalent of 50-foot financial tsunamis in virtually all markets.”
Below is Fitzwilson’s exclusive piece for KWN:
“The Mediterranean island of Crete gave rise to one of the great civilizations ever recorded, the Minoans. The Minoans arose out of history about 5,000 years ago, and flourished for 3,500 years. Among their many achievements was the first use of a written language in Europe. Their decline and eventual demise began with a cataclysmic geological event on another island in the Mediterranean, known today as Santorini.
The event that triggered the destruction was a monstrous eruption on that island. Visitors to Santorini today are greeted by one of the most beautiful cities in the world, but the smoldering remains of the volcano that once erupted with such devastating effects are a constant reminder of what occurred 1,500 years ago.
The eruption sent waves of tsunamis toward Crete and the Minoans. The tsunamis were estimated to be 50 feet high and coming in every 30 minutes. There was virtually no warning….