Are we all ready for the great collapse ?
The euro collapsing would be tragic. But the idea that the world would fall into chaos is rather baseless.
I know I am, because my neighbour is ready.
I’ll just kill my neighbour and I’ll be fine.
Biggest danger is the US gov, Fed Reserve, SEC, and the big five US banks who control 2/3 of GDP. In their eyes customers will lose their savings anyway if the system in EU collapse and causing our banks to collapse. Danger about this mentality is they would not hesitate to grab customer accounts to save the system even if it means violating laws and regs. Smart people are moving their money out of Wall Street accounts and moving it into hard assets. If you do not, one day one will wake up and find their entire life savings gone or seized. Look at what happen with MF Global. Ever wonder why they brought EU bonds when the word on the street is to avoid them??? Maybe the Fed Reserve whom Corzine has an intimate association with was asked to do a favor for the US gov/Fed Reserve, use company assets to prop up EU bonds at the critical moment. Problem was Corzine borrowed money from JPM Chase to to leverage the bonds at 100 to 1. Gamble exploded and JPM was about to be dragged down unless small people’s money were taken to make good on the loans to JPM. After that MF Global simply declared bankruptcy, all remaining assets including customer money (a violation of CFTC regs) were taken by the bankruptcy trustees and made available to all creditors. Nobody in the SEC, US Treasury and Fed Gov stopped this violation. Not even the anti capitalist Obama admin stepped in to save the middle class main street investors. All the elites got word ahead of time and pulled out before MFG imploded. Wonder why they were important to be informed ahead of time while all other customers were not important to be informed. Official losses is 1.2 billion of customer money, but adding other accounts, losses can go as high as 5 billion.