Euro Crisis Continues
The demise of our global economy is not an event that will go in a straight line to the bottom. It will be up and down with lots of posturing on behalf of the ‘leaders’ of the ‘developed’ countries.
Today is yet another example of this political posturing as the European Central Banker came out and said he would do whatever necessary to preserve the Euro and the EC! Pray tell what that would be sir!
The only weapon that these guys have is the ability to print money into infinity. As we all know, infinite money chasing limited supply of products, goods and services means prices will eventually rise to the point where these prices can change on an daily if not hourly basis. Hyper inflation this is called. Something that we in this country have never witnessed.
We will see in the coming days more of the same as Greece exits the Euro and the EC, yields will go higher on the sovereign debts of the EC members that are in the most trouble which will result in the European Central Bank to print more money to buy their bonds to try and lower yields. At some point this type of strategy will simply cease to function as needed and collapse will follow, but not in a straight line.
Be very careful if you are in the markets now. I personally am and have been out for quite some time…Closed my account at PFG just in time! Stick to food, water, shelter, gold and silver if I were you…And pray for better days to come!