{"id":16811,"date":"2016-01-22T12:26:26","date_gmt":"2016-01-22T17:26:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16811"},"modified":"2016-01-22T12:26:26","modified_gmt":"2016-01-22T17:26:26","slug":"europe-moving-into-meltdown","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16811","title":{"rendered":"Europe Moving Into Meltdown?"},"content":{"rendered":"
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Europe Moving Into Meltdown?<\/a><\/h3>\n
\"european_union_flag_perspective_anim_500_clr_4611\"<\/a><\/div>\n<\/header>\n
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QUESTION:<\/strong>\u00a0Marty, now the OECD is predicting a financial crash worse than the 2007-2009 event in Europe because they say there is over\u00a0\u20ac1 trillion in bad loans that cannot be collected. They seem to be also changing their opinion to fit your model. Were they there in Berlin?<\/p>\n

ANSWER:<\/u><\/strong>\u00a0<\/span>We cannot comment on if the\u00a0<\/span>OECD<\/a><\/strong>\u00a0<\/span>is following our model or whom has attended a World Economic Conference. They are the most widely attended and many just want to know where the computer stands.<\/p>\n

We see a massive banking crisis. The European banks are in deep trouble.\u00a0<\/span>Deutsche Bank<\/a><\/strong>\u00a0<\/span>posted a shocking \u20ac6.7 billion euro loss with its shares falling\u00a0<\/span>10% in a day<\/a><\/strong>. HSBC bought Republic National Bank in New York for a bit more than that.\u00a0<\/span>Barclay\u2019s<\/a><\/strong>\u00a0<\/span>is pulling out of all emerging markets and cutting 1,000+ jobs.<\/p>\n

The collapse in commodities will reek havoc on all emerging market countries, but there is one economy that nobody pays attention to closely: Germany.\u00a0<\/span>Yes,\u00a0<\/span>it is the largest economy and main supporter of the euro. They need open borders and the euro to maintain their economy that is\u00a0<\/span>EXPORT<\/strong>\u00a0<\/span>driven. China is advancing more rapidly than Germany and has focused on trying to develop its internal economy. Spain was the richest nation in Europe with all the gold coming in from America, but they failed to develop their internal economy and collapsed. Germany is declining. It cannot be sustained with open borders or the euro because the rest of Europe is in serious decline. The refugee crisis is a nightmare. Now,\u00a0<\/span>Italy<\/strong>\u00a0<\/span><\/a>is demanding taxpayer money to bailout banks in fear that a bail-in will cause a revolution.<\/p>\n