Acceleration Of Financial Meltdown Can’t Be Stopped !

• Draw your own conclusions! The global economic, financial and currency meltdown is getting closer! Got physical gold yet?
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  Acceleration Of Financial Meltdown Can’t Be Stopped / From International Banker Friend ! 
  by Steve Quayle, http://www.stevequayle.com/
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  May 31, 2012
  Steve,
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  The Iron boot has been firmly planted to the pedal of this runaway tractor trailer that is heading off the cliff. All of the Euro banks including my former associates at the Royal Bank of Scotland (RBS)  are all prepped and ready for the Euro collapse. What we in the inside are calling “Spanish Flue” is now running hot with temperatures that are setting ten year yields sky high. What many do not realize is that Bankia’s demise has started a breach in all the firewalls and safety measures that are in place in the Eurozone. This had an immediate effect on the Italian markets as you can now see the pandemonium that is there.
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  We keep hearing reports of massive bank runs that are occurring across many of the PIIGS but is not just limited to them. As I stated many times the UK and France are the most vulnerable to the Eurozone collapse, many of their populace are cashing out of their equities though there is a massive media blackout about this. European contacts report that there is a flight to German bonds, UK and a mass migration to the US dollar. But these currency life preserver jumps will not help as the contagion in all FIAT markets are affected. It is a game of hot potato that the investors are playing, jumping from one asset to the next and again before the one that they just jumped to burns. A juggling act with fire that cannot be quenched. Gold jumped over $40, it is telling us something.
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  Many banks in the Eurozone are stuffed with US Bonds/TBills as a hedge, this will not work for them for the following reasons:
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  1 – The American TBTFs (Too Big to Fails)  are filled to the brim with T-Bills, so are many banks in the Eurozone, the backroom deal was take the bills, bolster your balance sheets, dont sell them and We (Federal Reserve) will help you out. Why do you think the details of a Fed bailout of Eurobanks were never fully divulged? It is because they are being propped up by any means possible including American Treasuries that can not be dumped.
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  2 – They cannot dump them, the main reason is that the Fed is THE # 1 buyer of American Debt. Yes that is correct #1 not #2 we have surpassed the Chinese, since the ChiComs did not show for many of the last bond auctions and are stealth dumping US Debt Obligations. This has caused the balancing act to begin…Fed is Printing, at the same time buying what it prints, thus the banks can’t lend causing a solvency crisis the likes of which we have not seen and killing all credit markets like a ELE (Extinction Level Event) This will create a hyper Velocity Parabolic crash.
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  There is no stopping this…We are still on track as I have been predicting for a while now for a fall/winter collapse of the Eurozone and naked exposure of all derivative markets the world over. Europeans will go through a major reset, after time they will recover as Europeans do not carry the type of personal debt that Americans do. It is for America that I worry. Look for these signs next:
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  1 – JPM will be bailed out again but it will not stop the coming market crash. More details will emerge about their derivative swap failure $150 billion and counting.
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  2 – BOA (BAC Bank of America) will fold and be absorbed into JPM as a way to prop up the bleeding Giant. JPM will get the best picking of this deal just like they got with Bear Stearns.
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  3 – Massive layoffs at Citigroup and Wells Fargo
  4 – Goldman Sachs finally pays the piper, look for massive cuts there as well as BIG Losses
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  5 – Bond market bust which leads to freeze of all bond sales
  6 – Derivative bust the next one will be BOA followed by Citigroup
  7 – All CDS shorts and swaps will freeze.
  8 – Total Meltdown
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  Those who are ready begin to implement GOOD (Get Out Of Dodge) Plan. Keep what you need in paper and what you can afford to lose in banks in order to pay day to day expenses/bills. The rest of your investments/retirements should NOW be pulled from the market and moved to safe haven assets like Precious metals, farmland, fire arms and food. Prepare to ride out what we are calling the coming RESET BUTTON.
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  GodSpeed,
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  V.

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