From the article:
“So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We’re literally at most a few months, and very likely just a few weeks from Europe’s banks imploding, potentially taking down the financial system with them. Think I’m joking? The Fed is pumping hundreds of BILLIONS of dollars into EU banks right now trying to stop this from happening.”
- WARNING: the EU Crisis is BACK and Will Be Worsening in the Coming Weeks (ZeroHedge, Feb 12, 2013):
I want to issue a major warning to investors: the EU Crisis is going to get worse in the coming months.
I realize that most investors and analysts believe that the EU Crisis is over. Then think that because the S&P 500 is closing in on its all-time highs that things are fine in the system.
They are wrong.
The only item that held Europe together in 2012 was the credibility of EU politicians and ECB President Mario Draghi. Please note that nothing fundamental improved for the EU’s financial system: EU GDP has since re-entered a recession and EU unemployment has a hit a new record.
Indeed, the only reason things even looked better was because various Government engaged in massive interventions. In the case of Spain, this included raiding 90% of their social security fund to buy Spanish bonds so that yields would fall.
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Tags: Banking, Bonds, Collapse, Debt, ECB, Economy, EU, Europe, Fed, Federal Reserve, France, Global News, Government, Italy, Mario Draghi, Politics, Spain