The Warnings of Economic Chaos Are Correct
Well of course the bankers and eurocrats warn of chaos but this will happen whether the countries remain inside the EU or escape. But the chaos will be far worse for the banks that bribed corrupt politicians and voting blocks in the individual nations of Europe to accept the EU, if the major guilty banks fail.
How could there not be chaos when nations following the Goldman Sachs model at the urging of the banks borrowed money they could never pay back and then the banks leveraged this sovereign debt 26 to 1. Note bank average leverage is 9 to 1 and this can only works in the best of times. In other words, just a 5% fall in asset prices can destroy the entire equity position of a bank. Sovereign debt values will likely fall many multiples of 5% so you can see what is down the road.
The only question is should the countries face chaos now before the individual nations and citizens are impoverished by the EU or later when the nations are destitute. Over indebted EU nations like Greece, Italy, Spain, Portugal and Ireland should repudiate their national debts, leave the EU and return to their own sovereign currencies with a haircut in value now so their economics can grow and export again. The alternative is to wait too long like Greece probably has after EU enforced austerity; confiscatory tax levels and loss of national sovereignty have destroyed the country.
I believe the individual EU nations and their economies would do far better to return to national sovereignty and currencies under a political leadership at least somewhat loyal to the citizens and nation. Continuing with the false premise that a distant all-powerful cabal of European Union, central bankers and monetary elites buying off domestic politicians that have destroyed the economy can somehow solve the problems they created in the first place is the wrong solution.
The banks will be bailed out and the EU will survive regardless of the cost as long as there are citizens to rob and wealth to confiscate to support the banks. The casino is rigged and taxpayers will lose. So get ready for what could be the biggest bank run and sovereign debt collapse in world history. It will begin in Greece, Italy and Spain but the panic will quickly run through most of Europe ending where the banking scam all began on Wall Street and inside the boardrooms of Goldman Sachs. Remember both the leaders of the European and American Unions and the banking elites consider themselves a cut above the rest of us. They will not protect us but rather loot our remaining wealth and liberties so they can survive the economic crisis they created.
