Friday , 28 July 2017


Graham Summers: This Is What Is REALLY Happening In Europe!

I’ve often been labeled as “Gloom and Doom” in the past, but the situation in Europe today is beyond anything I’ve ever seen before. It is highly likely that the EU will not exist in their current form by the end of the year. I realize some of this may sound overly dramatic but the following should give you an idea of how serious things are getting: [Words: 715]

 So says Graham Summers (www.gainspainscapital.com) in edited excerpts from his original article*.

Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.

Summers goes on to say, in part:

1. Germany and France have introduced a joint proposal to allow Schengen-zone countries to temporarily reintroduce border controls as a means of last resort might sound harmless but doing so would damage one of the strongest symbols of European unity and perhaps even contribute to the EU’s demise…. [Source]

The above story has been almost completely ignored by the mainstream media. Let me ask you this: do you think Germany and France are really concerned about an influx of migrants? Of course not, the whole idea is ridiculous….No, the move to create border controls is about one thing only: stopping people from fleeing with their money when the collapse comes. The political elite in Europe are watching the bank runs in Spain and Greece and know that when the big Crash comes similar runs will occur throughout the EU.

Consider the following, more recent stories and you’ll see what I mean:

2. European finance officials have discussed, as a worst-case scenario, limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro…[and] the possibility of suspending the Schengen agreement, which allows for visa-free travel among 26 countries, including most of the European Union. [Source]

3. The Swiss National Bank is considering imposing capital controls on foreign deposits if Greece leaves the euro, as the franc would come under heavy demand from investors seeking a haven in Europe. [Source]

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The above is not Gloom and Doom! The above is reality. Talks are already underway! Moreover, the fact that these stories are even making it to the media tells us point blank that the political leaders in Europe are absolutely terrified by the situation they have on their hands.

4. Indeed, the UK is implementing numerous contingency plans ranging from implementing border controls to literally preparing to help thousands of British expats flee the Eurozone should the banking system collapse and Brits around the EU find themselves without access to cash.

Speaking of which, here’s another story the media has been downplaying:

5. Stephen Hester, the chief executive of Natwest, owner the Royal Bank of Scotland,…said in a confidential message – a copy of which was seen by The Sunday Telegraph [see here] – over the disruption to 12 million business and personal customer accounts of both RBS and its subsidiary, “Behind the scenes, we are making progress on our task to clear the backlog of payments.” That is correct, 12 million RBS customers have been shut out of their accounts and ATM withdrawals for SIX days due to a “glitch.” REALLY?

Conclusion

Let’s be blunt, the EU banking system is a $46 trillion toxic sewer filled with PIIGS debt. Even the ECB’s is not immune to this mess: over a quarter of its balance sheet is comprised of this garbage. This is why the ECB freaked out and pumped so much money into the EU banking system. You don’t spend over $1 trillion in nine months unless something very very bad is coming down the pike.

The fact countries are now actively putting together contingency plans to get their citizens out of EU should give you an idea of how fragile the entire system is over there. Yes, they political leaders will try to float various ideas on how they’ll “solve” the problems, but the reality is that there simply isn’t enough capital available to prop up the system and the market is starting to realize this (see the yields on Italian and Spanish bonds as well as those countries respective CDS) so if you’re not already taking steps to prepare for the coming collapse of the EU, you need to do so now.

We have at most a few months and possibly just a few weeks before the EU Crisis comes to a head.

*http://gainspainscapital.com/?p=1838 (To access the above article please copy the URL and paste it into your browser.)

Editor’s Note: The above article may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

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