Posted: 6/16/2012 5:45:34 AM EDT
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Disturbing article by John Galt at the Shenandoah blog:
This Could be the Go Time Weekend
by John Galt June 14, 2012 12:00 ET First and foremost, this is just an advisory of what my personal plan of action will be over the next 120 hours and not a recommendation for anyone to repeat or engage in any of these actions, especially if they can not afford to do so. There is not guarantee that this is the weekend where the events in Europe and the Middle East create the ultimate storm of financial disruption which washes over the American seawall like a Tsunami of economic doom, but to watch the events of this week and thus far this morning and to do nothing to protect and prepare my family is foolishness. The summary of events which are prompting my course of action: 1. Greek elections with a distinct possibility of results that plunge the nation into chaos and even civil war. The inherent instability there is already bleeding over throughout the Balkans as other nations in the region are suffering the spillover effects of the rapid economic contraction. 2. Cyprus appears to be on the path to receiving a bailout while unification talks between “North Cyprus” or the Turkish zone appear to have broken down. If the United Nations mediator departs without an agreement and the bailout occurs, the oil and natural gas reserves discovered by the Greeks may well be used as collateral for the loans from the European Central Bank creating more friction between Greece and Turkey; especially if the election results in Greece produce a radical nationalist alliance. 3. Italy and Spain’s sudden and rapid economic collapse is impacting the banking systems throughout Europe and will ultimately hit the U.S. causing a contraction in investment and spending and a much more severe contraction/recession than 2008 as our nation’s structure to deal with this problem is far weaker than the prior collapse. 4. Egypt is on the verge of civil war and/or a military coup d’etat. The stories from the Egypt Independent this morning are alarming at best, terrifying in the implications to the region at worst: Rights advocates challenge military powers to arrest civilians in court Court verdict will dissolve People’s Assembly, says elections official All that and the silence of Israel’s potential course of action towards Syria in preventing Islamic radicals OR the Assad regime from launching WMD’s against their tiny nation are of great concern, especially if Hezbollah adopts a use it or lose it approach with the defeat of the regime in Damascus. 5. ZeroHedge posted a cryptic message from the Forex trading company Oanda early this morning (see thread at ZH-”Due To The Extreme Volatility Some Market Analysts Foresee…“): <excerpted> Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations. Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted. For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt. To say this is disturbing is an understatement, so I am preparing accordingly. RTWT, including the steps he's taking to prepare: http://johngaltfla.com/wordpress/2012/06/14/this-could-be-the-go-time-weekend/ |
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I've been keeping an eye on all this as well, and I'm currently in Europe.
The 100 billion bailout to Spain with no strings attached was unprecedented, since there are no austerity measures along with it. Most people don't want to face what's coming, and are largely ignorant of what happens hsitorically when Europe sees economic fluctuations of this magnitude. The Weimar Republic, The Great War of 1914-1918, the Nazi Reich, the Winter War of 1939, and World War II seem ever-so-distant in the current generation's minds, which are occupied by things mostly of complete silliness and insignificance. When the tribes have no food within, tribal overlords look outside for resources. Begun, the opportunity for adventurous dictators has...across the world. Who will rise to the occasion? |
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Same $h!t, different format that I've read 100's of times.
I'm not usually one to side with the "times aren't bad" crowd, but I'm starting to feel like I'm in the story of the boy who cried wolf. I've heard this same thing that's in the article so many times now that I'll probably be blindsided if/when it does actually happen. |
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The bothersome part of all the euro-crap is that those left-wingers have never created a crisis in recent history that did not drag the U.S. into it.
And theyr'e doing it now. If I could devine the future of Europe, ...... I could be a very rich man in short order. BTW.......I'm stocked up on coffee. GD |
