Got PHYSICAL gold and silver?
Here is why:
- Greek Euro Exit: 60% Currency Devaluation, Default, Banking Sector Collapse
Here is what happened to Mexico:
– Hedge Fund Manager Kyle Bass Explains The New World Order (Panel Presentation):
For those who think a 50% write-down on debt will fix Greece, you have lost your mind. It is only a full wipe-out of the non-TROIKA-owned debt that is the only mathematical way for Greece to have any chance.
Don’t believe these governments when they tell you everything is going to fine. The day before Mexico devalued by 60% they denied that they would ever devalue. They can and will never tell you the truth. Find your own numbers.
Here is what happened to Belarus:
- Belarus Devalues Its Currency By 56% Overnight, Against Every Currency Out There:
Luckily for those who held their “money” in the form of gold and silver, they just got an instantaneous 56% value preservation and a relative boost in their purchasing power with just one central bank announcement.
- Euro Officials Begin to Weigh Greek Exit as Euro Weakens (Blomberg, May 14, 2012):
Greece’s possible exit from the euro moved to the center of Europe’s financial-crisis debate, rattling markets as authorities in Athens struggled to form a government.
Meetings brokered by Greek President Karolos Papoulias were set to continue today after Syriza, the leading anti-bailout party, rejected a unity government following inconclusive elections May 6. That moved the country closer to a new vote, with at least five European central bankers broaching the once- taboo topic of its exit from the euro.
“We’re really getting to a denouement,” Michael O’Sullivan, head of portfolio strategy at Credit Suisse Private Banking, said today in a Bloomberg Television interview. “We’re getting to the part where a decision has to be made” on whether Greece leaves the 17-nation currency union, he said.
Euro finance ministers meeting today in Brussels may discuss the bailout for Greece, as well as the situation in Spain, where the government last week made a fourth attempt to clean up banks. Getting German Chancellor Angela Merkel to weaken her demand that debt cutting be the core of the crisis response will be a key objective of new French President Francois Hollande when the two meet tomorrow in Berlin.
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Tags: Bailout, Bonds, Debt, ECB, Economy, EU, Euro, Europe, Global News, Government, Greece, Karolos Papoulias, Politics, Society