Pope Francis Warns Risk Of “Economic Collapse”
GoldCore
GoldSeek.com
Monday, 16 June 2014
Pope Francis warned the ‘idolatrous’ global economic system ‘cannot take it anymore’
Concerns over fighting in Iraq and Ukraine saw a global shift into traditional safe haven currencies, precious metals and bonds today as oil rose again and hovered near a nine-month high. European stocks fell.
Worries about Iraq were intensifying after Sunni insurgents seized the mainly ethnic Turkmen city in the northwest of the country over the weekend. It continued to drive fears about widespread turmoil in the country and the region.
Russia said it would cut off gas supplies to Ukraine this morning, setting the stage for a new phase of the months-long conflict between the two nations. The move came after the two sides failed to agree on a price for natural gas, a vital ingredient in Ukraine’s energy-intensive manufacturing economy. Ukraine is also a vital link between the rest of Europe and Russia’s gas supplies, transporting 15 percent of Europe’s gas supplies through its pipelines.
Hopes of Ukraine coming off the boil were dashed after pro-Russian separatists shot down a Ukrainian army transport plane, killing all 49 military personnel on board.
The Rest…HERE
