- The Illuminists are simply buying time and lining up all the dominoes for a catastrophic sovereign debt crisis collapse. All fiat currencies are in danger. Gold is hitting record highs in Euro, UKP, USD and in many other currencies. The smart money is fleeing fiat currencies into hard assets like gold/silver. Both precious metals are starting the next phase of the bull rally. Expect gold US$3,000/oz and silver US$100/oz in 6-12 months easily! Fiat currencies are a CONfidence JOB imposed upon the sheeple by criminal Illuminist banksters! When the sheeple wakes up, there will be a massive stampede into precious metals.
Merrill warns of major global crisis over Italy
By Barbara Kollmeyer
MADRID (MarketWatch) — A further deterioration in Italy’s bond market could threaten the global economic recovery and lead to “tail risk scenarios for global financial markets,” warned Bank of America Merrill Lynch in a note to investors on Tuesday. “As the third largest bond market in the world, after Japan and the U.S., Italy could be systemic. Funding pressures in Italy, and even more so a sovereign crisis, would have implications, in our view, that would extend well beyond the euro zone,” the analysts said.
They added that markets appear to be nderestimating such risks with volatility low and the euro relatively strong. The analysts said unless euro zone leaders considerably strengthen the European Financial Stability Facility immediately and Italy resolves its political issues and adopts a more “credible and frontloaded fiscal consolidation plan,” along with “ambitious structural reforms,” the spike in Italy’s borrowing spreads over Germany could “snowball into a major crisis for the global economy,” substantially knocking the euro.