Why we need to leave the EU
Posted: Fri Sep 06, 2019 7:40 pm
IMHO Italy will crash out of the Euro and bring down the EU like a pack of cards due to the following :-
1) More than 2 Trillion Euros and 132% of GDP.
2) Over 300 Billion Euros of bad debt (Banca dei Monte dei Pacha de Siena, the oldest bank in the world has dropped from around 90 billion Euros in value to around a billion).
3) Target2 debt of around 436 Billion Euros (a loan without interest and no obligation to pay).
4) Italian banks are dumping government bonds, with 40 Billion Euros of Italian sovereign bonds dumped in the last three months of 2017.
5) The ECB is buying Italian government faster than is allowed under it's capital key rules.
6) In March 2018 Italy could borrow money for less than the US government, despite being a higher risk, due to the ECB, yet the US Federal Reserve had already stopped its purchase of American bonds.
7) Italy spends 10% of revenue on interest (4% of GDP), double the OECD average and the highest in Europe in the last 6 years.
8) There's been a triple-dip recession since 2008, with unemployment over 10% and youth unemployment over 30%.
9) The future's gloomy as well, with the IMF estimating that it will take another decade for the economy to recover to pre-2008 levels.
10) Italian debt and the cost of debt are growing faster than the economy.
Nickolai Hubble (2019) How The Euro Dies
The price of gold is rising and some 10 year and 30 year bonds have negative interest, because the rich know that a crash is coming. The US trade war with China may reduce trade and world growth, but IMHO the crash will trigger with Italy bailing out of the Euro. Yet the politicians want to keep us in the EU, where we will suffer more when this happens. Even Alan Greenspan said in 2016 that at some point somebody's going to say, "I don't want to accept Euros."
1) More than 2 Trillion Euros and 132% of GDP.
2) Over 300 Billion Euros of bad debt (Banca dei Monte dei Pacha de Siena, the oldest bank in the world has dropped from around 90 billion Euros in value to around a billion).
3) Target2 debt of around 436 Billion Euros (a loan without interest and no obligation to pay).
4) Italian banks are dumping government bonds, with 40 Billion Euros of Italian sovereign bonds dumped in the last three months of 2017.
5) The ECB is buying Italian government faster than is allowed under it's capital key rules.
6) In March 2018 Italy could borrow money for less than the US government, despite being a higher risk, due to the ECB, yet the US Federal Reserve had already stopped its purchase of American bonds.
7) Italy spends 10% of revenue on interest (4% of GDP), double the OECD average and the highest in Europe in the last 6 years.
8) There's been a triple-dip recession since 2008, with unemployment over 10% and youth unemployment over 30%.
9) The future's gloomy as well, with the IMF estimating that it will take another decade for the economy to recover to pre-2008 levels.
10) Italian debt and the cost of debt are growing faster than the economy.
Nickolai Hubble (2019) How The Euro Dies
The price of gold is rising and some 10 year and 30 year bonds have negative interest, because the rich know that a crash is coming. The US trade war with China may reduce trade and world growth, but IMHO the crash will trigger with Italy bailing out of the Euro. Yet the politicians want to keep us in the EU, where we will suffer more when this happens. Even Alan Greenspan said in 2016 that at some point somebody's going to say, "I don't want to accept Euros."