That a default in Europe is coming has never been the question. For the astute observer the only thing at issue is how and when it will happen. While the mainstream financial media and government officials have tried to spin this story as one that involves only Greek debt, the fact of the matter is that this isn’t isolated to a single country. Italy, Portugal, Ireland and most other European countries are in exactly the same boat.
Despite all of the propaganda and machinations from leading financial powers like the United States, Germany, and France, it’s should be clear that there is no viable solution to the debt debacle facing Europe. As such, we should understand that a situation similar to what led to the Great Depression of the 1930′s is now unfolding once again. The ability of entire nations to pay off their debt is now in question, and given the sheer size of the numbers we’re talking about, any reasonable person could agree that there is simply no plausible resolution that will make all parties whole again.
This has been playing out in Greece for nearly three years, and we may very well be just weeks away from the dreaded moment when it finally becomes official. An exclusive report detailing internal bank documents from two major Wall Street players says that we may have much less time than we think as insiders prepare for a financial doomsday next month...more
USD/CAD: Is this just the beginning? 1.40 is next?
5 minutes ago