SS €uro is Taking On Serious Water!

• The Euro will collapse! It is a question of when? However, with its demise the global currency crisis will start! The wildfire will spread to the UKP, JPY … other currencies and finally the USD. All fiat currencies will fall prey to hyper-inflation. Competitive devaluations and currency wars are dead ahead! (emphasis mine)
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  SS €uro is Taking On Serious Water! 
  By Gordon T Long, http://www.gordontlong.com/ 
  The SS €uro is taking serious water. At the hastily called EU Summit Captains meeting on the Brussels Bridge, it was agreed that the best course of action, despite the worsening waves of bank runs, was to simply instruct the orchestra to continuing playing the same old familiar tune and order the rearrangement of the deck chairs.
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  However, all the captains somberly recognized there were neither sufficient lifeboats nor anyone willing to come to their rescue. As usual they were in complete disagreement on what to do, they knew they had insufficient resources for anything dramatic and they were well aware the public passengers had no tolerance for any cold water austere attempts for the sake of survival.
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  The EU banks runs have been steady and consistent.  Deposits have been relentlessly fleeing the peripheral countries and heading for the safety of deposit at German banks, and to a lesser extent French banks. Meanwhile the banks in turn were depositing money at the ECB for their own safety.
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  Not all money however is ending up at the ECB or anywhere in Europe for that matter. Needed capital to restart growth is presently heading for the safety of the US Dollar and US Treasuries.
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  The 10 Year US Treasury Note hit a 120 year low when it touched 1.48%. Dramatically down from a recent high of 2.30%, as the European situation worsened based on troubling European election results.  Investors are willing to accept real negative returns for the sake of perceived safety. Even Germany last week could float Bunds with a zero coupon.
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  A strengthening dollar is not good for a US stock market denominated in US dollars. It now takes fewer dollars to buy the same basket of stocks and US markets are down 9%. How long will this go on?  The short answer is: “Until the inevitable printing begins once again.”
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  That moment appears close, but we aren’t quite there yet. More pain and more time are required to give the money printers the cover they require, lest they ignite the hyperinflation rocket prematurely.
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