Graham Summers: 2012 Will Mark The End of The Euro!

• The world is heading towards a global currency meltdown. The Euro will collapse first, followed by UKP, JPY … and finally USD. This is an intentionally engineered monetary collapse. I do not believe that any major fiat currencies will survive this. Minor fiat currencies will follow the route of currency debasement down the toilet bowl. Expect hyperinflation!
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• Those of you who think this coming collapse will be limited to US and EU are wrong! Will the Illuminists crash their own currencies: Euro and USD and let other competitive currencies like the CNY survive? It is like shooting themselves in the feet and abandoning their stranglehold on the global monetary hegemony. Let me assure you they are not that dumb!
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• When America devalues the USD against gold (ie. revalue price of gold upwards) by 40% (according to Pastor Lindsey Williams), it amounts to a devaluation of the USD against all fiat currencies. Foreign countries will have to decide whether they want to similarly devalue their currencies against gold. Should they choose not to do so, their currencies will rise against the USD. They will become 40% more expensive compared to America. This will kill their economy. My conclusion is that Japan and China will also devalue their currencies accordingly to save their economy. The rest of Asia will follow suit. The rest of the world will also do the same. Hard assets will rise in price. A revaluation of gold price upwards is highly inflationary! ie. it is currency debasement on a worldwide scale!
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  2012 Will Mark the End of the Euro! 
  by Graham Summers, Phoenix Capital Research, http://www.zerohedge.com/ 
  The Euro-zone in its current form is in its final chapter. Anyone who argues otherwise is not paying attention. Consider the Greek situation. Greece’s debt problems first made mainstream media headline news at the beginning of 2009. The IMF/ EU/ ECB/ and Federal Reserve have been working on this situation for two years now. And they’ve yet to solve anything: after two bailouts, significant debt write-downs, and numerous austerity measures, Greece remains bankrupt.
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  Now, if the Powers That Be cannot solve Greece’s problems… what makes anyone think that they can address larger, more dangerous issues such as Italy or France, etc? Consider that the world’s central banks staged a coordinated intervention in November… and Italy’s ten year is back yielding more than 7% less than two months later. Again, a coordinated intervention by the world’s central banks bought less than two months’ time for Italy.
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  And now we find the debt contagion spreading to France:
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  French Debt Costs Rise at Bond Sale as AAA Decision Looms
  France sold 7.96 billion euros ($10.2 billion) of debt, with 10-year borrowing costs rising in the country’s first bond auction of the year as credit-rating companies threaten to cut the nation’s AAA grade.
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  The government sold 4.02 billion euros of the bonds maturing in October 2021 at an average yield of 3.29 percent, from 3.18 percent on Dec. 1. The euro fell to its weakest level against the dollar in 15 months, and the extra yield investors demand to hold French 10-year bonds instead of benchmark German bunds widened to the most in about six weeks.
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  “There’s still the threat of a downgrade hanging over France and until we get that situation cleared up you can’t signal the all-clear,” said Eric Wand, a fixed-income strategist at Lloyds Bank Corporate Markets in London.
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  France has the biggest debt burden of the six top-rated euro nations, at 85 percent of gross domestic product. Its 10- year yield spread to German debt widened to a 21-year high of 204 basis points on Nov. 17 amid concern Europe will struggle to contain the region’s debt crisis. Today, it reached 151 basis points, or 1.51 percentage points, the most since Nov. 25. It was at 149 basis points at 5:39 p.m. Paris time compared with a premium of 47 basis points for AAA rated Finland and 39 basis points for the Netherlands.
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  … for more click here!

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