Eric Sprott: “Credibility is leaving the system”

Image: Stuart Miles / freedigitalphotos.net *

“We have no doubt that everyone is tired of bad news, but we are compelled to review the facts: Europe is currently experiencing severe bank runs, budgets in virtually every western country on the planet are out of control, the banking system is running excessive leverage and risk, the costs of servicing the ever-increasing amounts of government debt are rising rapidly, and the economies of Europe, Asia and the United States are slowing down or are in full contraction. There’s no sugar coating it and we have to stop listening to politicians and central planners who continue to downplay, obfuscate and flat out lie about the current economic reality. Stop listening to them.  

“(…) we cannot see any positive solutions to this problem other than debt repudiation.”   Eric Sprott

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LarouchePac: London’s Eurobloc is crumbling

Image: sdmania / FreeDigitalPhotos.net *

London’s Eurobloc Is Crumbling

LarouchePac
April 26, 2012

With the European banking situation beyond desperate, and disintegrating rapidly, the British have been urgently pushing to establish the ESM by July, as a platform for the kind of hyperinflationary bailout required — i.e., in the order of magnitude of $9 trillion, not the silly (and non-existent) $430 billion the IMF announced last Friday. Continue reading

Gary North: Too many Eurozone Summits

New World Order, by Aherograff / Wiki Commons *

“The New World Order is in big trouble.
The European subdivision is visibly coming apart at the seams.”


“The whole banking structure is at the edge of the abyss.”


“the entire international fractional reserve banking system
is coming apart, and it will take more than press releases to hold it together. Behind the scenes, each government is trying to pass on liability to the other governments.”

Gary North

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Greece has privately made its wish to leave the EuroZone

Harvey Organ:

One of my good friends writes this email to me and I believe he is correct. I am not sure if Greece will leave first or will Germany but the result is the same. He wishes to share his thoughts with you but remain nameless:

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