Hugh Hendry On Europe “You Can’t Make Up How Bad It Is”!

• The Illuminist plan is for a global economic, financial and monetary collapse leading to World War 3! The collapse will start in the PIIGS, spread to the rest of Europe, UK, Japan … finally America. All fiat currencies will be under attack. Got physical gold yet?
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  Hugh Hendry On Europe “You Can’t Make Up How Bad It Is”! 
  by Tyler Durden, http://www.zerohedge.com/ 
  At The Milken Institute conference yesterday, Hugh Hendry delivered his usual eloquent and critical insights on the state of Europe. Beginning with the statement that “All of Europe has defaulted”, the canny-wee-fella (translation: shrewd and cautious young chap) explained that “The political economy in Europe is such that the politicians chose to default on their spending obligations to their citizens in order to honor the pact with their financial creditors and so as time goes on, the politicians are being rejected.”
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  Between France’s election of Mr. Hollande and Luxembourg’s ‘when times get tough you have to lie’ Juncker, Hendry says the only inspiration for Europe is fiction as “you just can’t make up how bad it is” as he goes on to discuss the precedent for a way forward, the grotesque distortions of fixed exchange rate regimes, why Weimar happened, why the transfer union will never happen, Ayn Rand’s reality, and fear politicians are feeling.
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  The entire discussion is well worth watching for a sense of the underlying reality in Europe.
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  …. read more!

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