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Jim Cramer Is Predicting Bank Runs In Spain And Italy And Financial Anarchy Throughout Europe

During an appearance on Meet The Press on Sunday, Jim Cramer of CNBC boldly predicted that "financial anarchy" is coming to Europe and that there will be "bank runs" in Spain and Italy in the next few weeks.  This is very strong language for the most famous personality on the most watched financial news channel in the United States to be using.  In fact, if Cramer is not careful, people will start accusing him of sounding just like The Economic Collapse Blog.  It may not happen in "the next few weeks", but the truth is that the European banking system is in a massive amount of trouble and if Greece does leave the euro it is going to cause a tremendous loss of confidence in banks in countries such as Spain, Italy and Portugal.  There are already rumors that the "smart money" is pulling out of Spanish and Italian banks.  So could we see some of these banks collapse?  Would they get bailed out if they do collapse?  It is so hard to predict exactly how "financial anarchy" will play out, but it is becoming increasingly clear that the European financial system is heading for a massive amount of pain.

Posted below is a clip of Jim Cramer making his bold predictions during his appearance on Meet The Press.  He is obviously very, very disturbed about the direction that Europe is heading in....

But what is Europe supposed to do?  Even though "austerity measures" have been implemented in many eurozone nations, the truth is that they are all still running up more debt.  Are European nations just supposed to run up massive amounts of debt indefinitely and pretend that there will never been any consequences?

That is apparently what Barack Obama wants.  During the G-8 summit that just concluded, Obama urged European leaders to pursue a "pro-growth" path.

Of course to Obama a "pro-growth" economic plan includes spending trillions of dollars that you do not have without any regard for what you are doing to future generations.

Germany has been trying to get the rest of the eurozone to move much closer to living within their means, but as the recent elections in France and Greece demonstrated, much of the rest of the eurozone is not too thrilled with the end of debt-fueled prosperity.

In Greece, the recent elections failed to produce a new government, so new elections will be held on June 17th.

Many EU politicians are trying to turn these upcoming elections into a referendum on whether Greece stays in the eurozone or not.  If the next Greek government is willing to honor the austerity agreements that have been previously agreed to, then Greece will probably stay in the eurozone for a while longer.  If the next Greek government is not willing to honor the austerity agreements that have been previously agreed to, then Greece will probably be forced out of the eurozone.

The following is what John Praveen, the chief investment strategist at Prudential International Investments Advisers, had to say about the political situation in Greece recently....

"If the pro-euro major parties fail to muster enough support to form a coalition and the radical left Syriza party and other anti-euro, anti-austerity parties secure a majority, the risk of a disorderly Greek exit from the Euro increases and could roil markets"

Right now, polls show the leading anti-austerity party, Syriza, doing very well.  The leader of Syriza, Alexis Tsipras, has declared that he plans "to stop the experiment" with austerity and that what the rest of the eurozone has tried to do in Greece is a "crime against the Greek people".

But the Germans do not see it that way.  The Germans just want the Greeks to stop spending far more money than they bring in.

The Germans do not want to endlessly bail out the Greeks if the Greeks are not willing to show some financial discipline.

As we approach the June 17th elections, the financial markets are likely to be quite nervous.  According to Art Hogan of Lazard Capital Partners, many investors are deeply concerned about how "sloppy" a great exit from the euro could be....

"Next week is only one of the four weeks we have to wait until the Greek election. Every utterance out of Greece makes us think about their [possible] exit and how sloppy that could be"

Most Greek citizens want to remain in the eurozone and most European politicians want Greece to remain in the eurozone, but it is looking increasingly likely as if that may not happen.

In fact, there are reports that preparations are rapidly being made for a Greek exit.  According to Reuters, "contingency plans" for the printing of Greek drachmas have already been drawn up....

De La Rue (DLAR.L) has drawn up contingency plans to print drachma banknotes should Greece exit the euro and approach the British money printer, an industry source told Reuters on Friday.

And even EU officials are now acknowledging that plans for a Greek exit from the euro are being developed.  The following is what EU Trade Commissioner Karel De Gucht said during one recent interview....

“A year and a half ago, there may have been the danger of a domino effect,” he said, “but today there are, both within the European Central Bank and the European Commission, services that are working on emergency scenarios in case Greece doesn't make it.”

When these kinds of things start to become public, that is a sign that officials really do not expect Greece to remain a part of the euro.

And Greece is rapidly beginning to run out of money.  According to a recent Ekathimerini article, the Greek government is likely to run out of money at the end of June....

The public coffers are seen running dry at the end of June, but this will depend on two key factors. First, revenue collection: In the first 10 days of May, inflows were about 15 percent lower than projected but there are fears that the slide may reach 50 percent. The GAO will have a picture for the first 20 days on May 23, while the last three days of the month are considered crucial, when 1.5 billion euros of the month’s budgeted total of 3.6 billion are expected to flow in.

Second, whether the IMF and EFSF installments are disbursed: This is not certain, as the decision will be purely political for both providers and evidently partly linked to political developments. Earlier this month the eurozone approved a disbursement 1 billion short of the 5 billion euros that were expected.

If Greece runs out of money and if the rest of Europe cuts off the flow of euros, Greece would essentially be forced to leave the euro.

So the last half of June looks like it could potentially be a key moment for Greece.

Meanwhile, the Greek banking system is struggling to survive as hundreds of millions of euros get pulled out of it.  The following is from a recent CNN article....

The Greek financial system is straining hard for cash.

Consumers and businesses are making massive withdrawals from Greece's banks -- leading to concern the beleaguered nation could be forced out of the eurozone by a banking crisis even before its government runs out of cash.

Deposits are the lifeblood of any bank, and Greeks pulled 800 million euros out of the banking system on Tuesday alone, the most recent day for which figures are available.

If Greece does leave the euro and the Greek banking system does collapse, that is going to be a clear signal that a similar scenario will be allowed to play out in other eurozone nations.

That is why Jim Cramer, myself and many others are warning that there could soon be bank runs all over the eurozone.

Sadly, the banking crisis in Europe just seems to get worse with each passing day.

For example, the Telegraph has reported that wealthy individuals are starting to pull money out of Spanish banking giant Santander....

Customers with large deposits have started withdrawing cash from Santander, the bank has admitted, as it tried to reassure concerned members of the public that their money is safe.

Round and round we go.  Where all this will stop nobody knows.

If Greece does end up leaving the euro, that could set off a chain of cascading events that could potentially be absolutely catastrophic.

Former Italian Prime Minister Romano Prodi recently stated that the "whole house of cards will come down" if Greece leaves the euro.

And if the "house of cards" does come down in Europe, that is going to greatly destabilize the global derivatives market.

You see, the truth is that the global derivatives market is very delicately balanced.  The assumption most firms make is that things are not going to deviate too much from what is considered "normal".

If we do end up seeing "financial anarchy" in Europe, that is going to greatly destabilize the system and we could rapidly have a huge derivatives crisis on our hands.

And as we saw with JP Morgan recently, losses from derivatives can add up really fast.

Originally, we were told that the derivatives losses that JP Morgan experienced recently came to a total of only about 2 billion dollars.

Now, we are told that it could be a whole lot more than that.  According to the Wall Street Journal, JP Morgan could end up losing about 5 billion dollars (or more) before it is all said and done....

J.P. Morgan Chase & Co. is struggling to extricate itself from disastrous wagers by traders such as the "London whale," in a sign that the size of its bets could bog down the bank's unwinding of the trades and deepen its losses by billions of dollars.

The nation's largest bank has said publicly that its losses on the trades have surpassed $2 billion, and people familiar with the matter have said they could over time reach $5 billion.

And if Europe experiences a financial collapse, the losses experienced by U.S. firms could make that 5 billion dollars look like pocket change.  The following is from a recent article by Graham Summers....

According to Reuters once you include Spain and Italy as well as Credit Default Swaps and indirect exposure to Europe, US banks have roughly $4 TRILLION in potential exposure to the EU.

To put that number in perspective, the entire US banking system is $12 trillion in size.

Interesting days are ahead my friends.

Let us hope for the best, but let us also prepare for the worst.

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  • Cinderella Man

    HA HA HA! Burn baby burn!! I want it to happen!! The longer this evil world govt is in place the worse it is for all of us!! I must admit I pray daily for the destruction of this world. It is far too evil and tyrannical to keep on existing. Go little Greece go!! May you bring the entire house down with you as you go!!

    • Trix

      Amen to that brother!

    • Bone Idle

      The Germans might be seeing the writing on the wall and percieve what you want.i.e. A reset of the world economy asap. The longer the current debt trap and derivative crisis goes on the harder will be the world fall. The world economy should have crashed in 2008. The world economy would now be on the path to recovery with far less fallout compared to what will happen now.

      Bring it on before the potential crisis gets so big millions possibly could perish rather than be in an economic perilous condition

    • erheault

      Hmmm its all Greek to me.

    • mondobeyondo

      Burn, baby, burn! Banker Inferno!
      Burn, baby, burn! Burn that mother down, y’all!

      (a not so subtle nod to the late Donna Summer and Robin Gibb)

      • mondobeyondo

        It’s actually a 1977 hit song by The Traamps. Loved that song as a “tween”.

        • Paul

          Tina Turner made a pretty good fist of it some years later too.

      • Michael

        When I was a wee little lad I was a huge fan of the Bee Gees. :)

        Michael

    • http://www.InventPeace.com J

      See what happens when you let traitors at the top leverage ENERGY PRICES to insane levels at same time as you let those same traitors suppress alternative energy: CRISIS ! !

      Seems like that IF banks are run in europe that the money would flee to the USA, percieved as a safe haven? The dollar is actually getting stronger while the euro is falling, where would you put your investment, or just keep it yourself? I daresay that germany and all of them WILL survive, but it will be painful, ALSO they need to start to understand that simply laying off workers in govt actualy makes things worse, instead they should keep all the workers and simply reduce the salaries (big shots hate this, IE they pay county manager 250,000+ but lay off countless workers ??), keeping as many as possible employed is a very good way to fight the crisis. Besides in a real bank run crisis in the usa, the govt would simply print trillions more to cover everyone which is effectively reducing everyones spending power at same time, how long can all this go on?

  • Tobrojo

    I heard it said that only human arrogance will assume that just because a human system has been around for a long time, that it always will be.

  • sre

    As it is now, so it always has been, and so it ever shall be. So move along folks, nothing’s happening here and what’s more, nothing can happen.

  • Gary2

    Good for Greece/France for saying NO to austerity. No more making the poor and working people pay for the rich scumbag losses. They are saying NO to privatizing the gains and socializing the losses. We need to do this here and it is happening already.

    They need to do an Argentina and default and start over. Make the rich bankers take a major haircut.

    • McKinley Morganfield

      “They need to do an Argentina and default and start over. Make the rich bankers take a major haircut.”

      And where is Argentina today? I agree there must be a massive default and I agree the banksters should suffer; but all will suffer because there is no choice but changing a long slide into massive debt & default caused by easy credit and deficit spending. Somewhere around 40% of GDP results from deficits and easy credit to buy that which could not be bought if government (at all levels) and the private sector lived within their means. Our economy is based on piling on more and more debt. The choice becomes more debt which will eventually cause a catastrophic crash or austerity/frugality which will be painful and cause political/social chaos.

      A choice of cancer or polio: http://www.youtube.com/watch?v=TW-sJqO5qDM

      • mondobeyondo

        Argentina’s pretty much in the same position, after numerous defaults and bailouts. A century ago, Argentina was one of the wealthiest countries on earth. Now it’s an inflationary basket case.

    • de Malfosse

      No. If I recall correctly your Argentina model first stole everyone’s personal savings, created huge inflation, instigated a war, and there was all that nasty “disappearing” business.

      The model is Iceland.

    • http://endzone2.weebly.com Craig

      I told myself I wouldn’t read Gary2, but he actually made a good comment.

      • Gary2

        Hey even a broken clock is correct twice per day :)

    • Gary3

      The banksters will take a haircut, but Greece will be thrown into poverty. Their economy cannot sustain their lifestyle. I would be more concerned that Germany may take it’s ball and go home.

    • Saq

      No Gary2…. We should do like Iceland and have debt forgiveness will telling the banksters to go take a hike.

      • Gary2

        Ok Iceland then. Thanks for the correction.

    • GaryToo

      We need to do this here and it is happening already.’

      Yes you almost defaulted when the republicans dragged their feet on raising the national debt limit, and the AAA credit rating has been downgraded.

    • Mal R.

      Are you under the impression that “Mak[ing] the rich bankers take a major haircut.” isn’t going to have a PROFOUND effect on the poor?

      So lets be a little intellectually curious. Hmmmm. Well, what’s held at a bank? Everyone’s bank accts? Pension money? savings? So when all those banks fail and that money evaporates, are you screwing the big guy?

      But but what about the FDIC? Aside from being American, that comes from the govt. Isnt their govt broke?

      But but, they can just print it. wouldn’t that be called hyperinflation?

      But but, they can just get a job. Didnt we just force businesses, whose bank accts were at those banks, to take a “Haircut”? Now that they have no money, where are they gonna get money to pay employees? Why would they have employees since no one has any money to buy anything?

      • Gary2

        I am just saying I am sick of bailing out the banks who privatize the gains and socialize the losses. This has got to stop.

        I am thinking even we could agree on no more bailouts.

        • Mal R.

          I was never for a bailout. On that we will agree.

          However, as told by a DEMOCRAT congressman (the name escapes me), who went on TV and looked VISIBLY shaken/afraid and described what was happening in Sept/Oct 08 and threw out those words “Martial Law” – I did believe the Govt needed to do something to at least stabilize the system. I believed him – we were/are in some DEEP Kimche.

          Of course, what the democrat controlled congress (House AND Senate) did was increase their own power and only kick the can down the road. And then a few months later it worsened when Obama took control. The ENTIRE govt was controlled by democrats, and what you rail about was made MUCH worse by democrats. Doesn’t that give you pause AT ALL about placing your faith in govt (your God)?

  • joe

    This man is an idiot, a pretty ignorant one. And he’s way behind the curve as to the implosion we’re seeing in slow motion, but its too be expected, this is the same idiot who called the housing bottom just a couple of years ago.

    He’s good for entertainment, and that’s about it.

  • Wow.

    Predict-ING? Hasn’t this already started to happen?
    Btw, I’m predicting that Lincoln will be assassinated, the stock market will crash in 1929, and that there will be a giant economic collapse in 2008.
    Cramer. What a joke.

  • Paranoid

    I hate this, The end of the world isn’t so bad; But Agreeing with Cramer, OH NOOOO

  • Stan522

    So the mainstream leftist media is finally calling out the crumbling of the Euro….. what took him so long–?

    • Ian

      mainstream and leftist are 2 very different things my friend.

      • Stan522

        Ian, the mainstream media are leftist’s. MSNBC espouses leftist ideals. This buffoon on MSNBC is mainstream and a leftist and he consistently is wrong with his advice. What more can I say?

  • DOD

    I can’t see them crashing it before the Olympics. They will wait till we are cold and hungry (winter) for easier control.

  • JR

    Don’t be alarmed, everyone! Just go out in the streets and chant “Yes we can.” Or, more helpfully, “Yes, we have no bananas.”

  • JR

    OBUMBLER WHITE HOUSE: A FULLY OWNED DIVISION OF GOLDMAN SUCHS

  • Squamous

    I bet the opposite of everything Cramer says!

  • de Malfosse

    well now … things must be serious enough if ClueLess Jim Cramer is catching on.

  • Randy

    The one thing I don’t agree on this article is the pro growth Obama slam. The time for putting our fiscal house or Europe’s fiscal house in order was the last decade, not now. I agree that countries should be fiscally responsible and have sound economic policies. Unfortunately that doesn’t happen a whole lot. Look at all the countries that have crashed and burned throughout the last 100 years. However, austerity never ever works in a huge economic downturn. History has proved this also time and again and Europe is proving it now. Unfortunately so many people believe that national economic policy should mirror someones personal checkbook. This idea is a great feel good thing that sounds really nice during a campaign season but has very little to do with national economic policy. I won’t spend a bunch of time talking about economics, but I do know it takes a lot of personal time and research to really understand what is going on in the U.S. and the world today. Anyone who gets most of their information from the mainstream media really doesn’t have a clue. Unfortunately most people in this country are very ignorant of what is going on. I really cannot believe what is going on in American politics today. It is insane. The reason the U.S. is even holding in a steady but very weak economic state is the original stimulus that came at the start of this downturn. When Europe crashes it will take us down with it. We are still too weak. Nobody has learned from history. Bottom line, you got to have consumers to pump the economy. No consumers no economy. No employed people, no consumers. Cut government to the bone, even less consumers and more people on the dole. It just continues to spiral out of control until you are a “Greece in Europe. Remember when a Vice President of the last administration stated “Deficits Don’t Matter”? Such hipocrits.

  • MarkV2012

    I think you mean “do an Iceland and default.” When Argentina went through its crisis, the bankers took their money and ran, and the middle class got creamed.

  • Steve

    So why should I kill myself paying off all my bills. And trying to get ahead?

    Just take on one two bank cards, buy up a lot of survival supplies, equipment, and silver coins then bankrupt the whole thing?

    The bankers and others knew that it was going default, why shouldn’t we?

    • Annette

      I confess, I did that. I found myself in bad straits about 15 years ago and could not pay anything. They had to charge off my debt, which I think was only around $50,000. I felt bad about it. Now, I am quite happy that I did. I hate the bankers.

      • Gary2

        nothing wrong with a little wealth redistribution

        • Mal R.

          Except that it indicates you have a complete lack of integrity and character. Yea, you’re prolly a scumbag if you’ve chosen to take that route.

        • Chestertonian

          Gary2, I perceive that you are less hateful and more thoughtful than earlier, and I thank God for that. While justice requires an end to favoritism towards the rich (which characterizes our current economic system), perhaps you are beginning to recognize that large, government-controlled enterprises, such as Soviet state farms and Al Gore-style “green” mandates, also are inimical to justice and to humane-ness. That is, socialism is not a kindly alternative to corporate capitalism; both are un-Godly and concentrate economic power in too few hands. Again, I urge you to read and think deeply on Distributist economics, starting with Hilaire Belloc and G. K. Chesterton. Start with “Economics for Helen.”

          • Gary2

            thanks for the reading suggestion. I will check into them.

      • Discouraged One

        Didn’t they change the laws about 10 years ago so you can’t do that anymore?

        I used to have these neighbors, went out bought all new furniture and stuff on their credit cards, then declared chapter 11 (I think). I thought they were low lives for doing that to be honest, but they didn’t feel bad like you, they bragged about it,thought it was funny.

  • Colin

    I feel that, on some days, that I am a spectator to the tragedy that is slowly and irrevocably engulfing our species. This tragedy is coming in, like a wave, from all sides and there’s no where to run. Somewhere in this world, everyday, there is an emergency, and there never seems to be a shortage of emergencies. I have to ask myself, what is this constant state of stress doing to us as a species? Maybe, I think one of the reasons that some people are slow to react is that they have become numb to the situation. Somewhere, somehow, these people got to the point where they couldn’t take anymore, and they stopped feeling any emotion. I wonder how long it will be before I too become numb, and I stop feeling emotionally about these issues.

  • chiller

    That slob Cramer is just trying to capitalize on what most everyone in finance already knows so he looks good for his show. He’s a disgusting little man.

  • sos

    one card does not make a deck, nor does it contain a house, even if that card, happens, like germany to be the biggest one in play. merkel will soon realise this when the new greek pm returns with an ace of his own- the one holding up the heap high above him, and the fear among the elite if it shall exit the pact..expect the merry go round to continue, though to a slightly different tune

  • http://www.1913intel.com Matt

    A couple of historians figured out that crises in America seem to happen about every 80 to 100 years from the start of the last crisis. The last crisis period ran from 1925 to 1945. These historians predicted in 1997 that the next crisis period would go from 2005 to 2025. About the time most of the people from the last crisis have died, then the country becomes susceptible to a new crisis.

    This crash phenomena happens because of a build-up of bad decisions. Eventually the build-up becomes so great that everything must come crashing down.

    What we are looking at today is a replay of the Depression plus World War II. Right now the depression part is being heavily suppressed so it doesn’t quite feel so bad. The ability to suppress can’t last forever, so eventually the financial pain will much get much worse.

    The bad decisions don’t just occur in the financial area. Modern liberals are having the West disarm and gut its nuclear arsenal. It’s to the point that we can only retaliate one time, then we have nothing left. In the past we had the ability to retaliate many times over several years. We might very well see the war part of the collapse in 2013.

    Russia and China have effectively threatened nuclear retaliation if Iran is attacked. There is an excellent chance that Israel may attack Iran this summer. Nuclear retaliation from Russia and China would come the following spring while everyone is sleeping.

    Our two historians warned us about the pain part. The pain now is around 2 or 3. It will get to 10 before it is all over. I guess 10 means death.

  • http://EconomicCollapse Yabba

    I agree with Cinderella Man, let the bankers burn, it is arrogant to underestimate people power, riots everywhere will finally get the politician to start treating their bosses (us) more seriously.

  • Richard

    Another very nice article, Michael. Yep, you can do it! Keep up the good work…

  • http://www.youtube.com/user/LambAndTheDragon MichaelH

    Jim Kramer: The same guy who told you not to sell Bear Sterns

  • CinnamonGirl

    I saw that Meet the Press yesterday and thought the same thing about Cramer….I was amazed that that came from mainstream media.

  • GaryToo

    They are saying No to the reality that they were a classical civilization several thousand years ago and since then their economy has been goat herding and their export has been the excess sons of the goat herders who can not all be fed(more greeks in melbourne than athens). They are saying Yes to a decade of living like industrialized nations standard of living with overblown public sectors. All in on an overblown public service with no private sector to support it.

    Their rejecting austerity is like a wannabe checking into the waldorf or ritz and then trashing the room when room service finally declines their credit card.

  • ANDREW LEINER

    DANIEL 12:8-13
    8. And I heard, but I understood not: then said I, O my Lord, what shall be the end of these things?
    9. And he said, Go thy way Daniel: for the words are closed up and sealed till the time of the end.
    10. Many shall be purified, and made white, and tried; but the wicked shall do wickedly: and none of the wicked shall understand; but the wise shall understand.
    11. And from the time that the daily sacrifice shall be taken away, {This happened in 70 A.D. when the Roman General Titus destroyed Jerusalem and burned the Jewish Temple.} and the abomination that maketh desolate set up, {This happened in 691 A.D. when the Dome of the Rock, a Muslim shrine, was built on the Temple Mount.} there shall be a thousand two hundred and ninety days. {The wise know that these “days” are years. So, 691 + 1,290 = 1981. What happened here on Earth in 1981? Not much that I know of. But my guess is that this is when Satan was cast out of Heaven. {Therefore rejoice, ye heavens, and ye that dwell in them. Woe to the inhabiters of the earth and of the sea! For the devil is come down unto you, having great wrath, because he knoweth that he hath but a short time. Revelation 12:12}
    12. Blessed is he that waiteth, and cometh to the thousand three hundred and five and thirty days. {Ok, 691 + 1,335 = 2026. No one knows the day or the hour, but, it looks, to me, that this is the year of the Second Coming, when Jesus returns, not as the Lamb of God, but, as the Lion of the Tribe of Judah. “Thou shalt break them with a rod of iron; thou shalt dash them in pieces like a potter’s vessel. Psalms 2:9.}
    13. But go thou way till the end be: for thou shalt rest, and stand in thy lot at the end of the days.
    Daniel 12:11-13

    andrewleiner@comcast.net

  • ANDREW LEINER

    The Euro is doing what it was designed to do, collapse. Why? Because it was only meant to be a step toward a One World Money used to create a One World Government which will be used to form what Satan has been working toward for all these thousands of years, a One World Religion. Satan will be worshiped as the number one god and the AntiChrist will be worshiped as Satan’s Sith Lord. When will the Euro collapse? When Satan’s lap dogs are told by him to pull the plug and not one day sooner. I have been waiting for this for 39 years and change. And now it is here. Forty years ago I would do my doomsaying and the people would wag their heads and poopoo me. Now, things have changed. Many nod and many are becoming Preppers.
    ANDREW LEINER MASTER DOOMSAYER.

    • GaryToo

      try mixing it up a little andrew, dont want to see the exact same post every article.

  • JAH666

    Art Cashin at UBS Financial Services is also predicting that: “The battle for Greece (and Spain) will be fought daily at the ATMs of their banks. A full-blown bank run would be an instant crisis.”

    These weekend warnings follow the letter of threat that Citi sent to the leaders of Europe on Friday, with phrases like: “Our impression is that markets will need to act as the proverbial ‘attack dog’, forcing the issue on the political agenda.”

    As heartless as it may sound, I too am ready for the house of cards to fall. Let’s get the real pain front and center, start the sovereign defaults, and sound the world-wide wake-up call for all the sleeping sheeple.

  • Evie

    I believe cramer took a lot of heat for not warning people about the mortgage collapse. At least he is on the right side now. This collapse is just away to tske assets from the older generation and hand them over to banks and corporations the elite know what is best for us all. Notice propaganda ads on television to group people into diabetic,catheter supplies and excessive ads for sexual enhancements.

  • randyvw

    i can’t find a video anywhere of that rant?

  • Alvin

    If your doing (wasting) an article on what Jim Cramer then ya must be running out of things to write about.

  • http://thetruthfulone.com The Truthful One

    Jim Cramer is a tool of the Illuminati. He’s been lying to us for years, so I don’t plan on listening to him now.

    Besides that, the whole E.U./Greece mess is under the elite’s control. It will play out EXACTLY how they planned it.

    Everyone is so entranced in the puppet show to see what will happen next, that they don’t pay attention to the Puppet Masters, who are moving the world into greater debt and removing our freedoms.

    Look at 9/11. Everyone was so entranced by the event, that they didn’t notice the obvious:

    President Bush presented his Patriot Act before Congress just 11 days after Sept. 11.

    It has 10,000 pages of legislation, which nobody could write in 11 days. That means that it was written before Sept. 11, which means there was PRIOR KNOWLEDGE.

    • Annette

      I lived next door to Marwan, one of the pilots that day. Atta would come over to visit and talk to Marwan. They seemed pleasant and then one day, when they were at a Subway on Maryland Parkway, there were two other arabs with them. They actually had a very bad spirit about them that you could cut with a knife. I had the hair on the back of my head stand up and I could not stay in the same room with them. Why was I there? I just happened to have walked in to get a sandwich after having my hair done at the JC Penny’s across the street. I have never walked into a room with so much evil present. It made me ill. I talked to my family about it when I got home. We decided that Marwan must be a hit man and they were planning a hit. I thought that perhaps they were working for the local mafia types doing the hits for them. Now, here is something that came to light. Gary Waddel, Fox News Las Vegas did a story on these four guys that the FBI lost track of. They were being tracked into the McCarran Airport from Seattle where they caught the one guy coming across the border with explosives in the back of his car, remember that? These guys were a part of that cell. The FBI knew that they were taking flying lessons. They knew the guys were here. Our FBI did nothing in Las Vegas to apprehend them. I fault the FBI for that.

      • John W.

        Six months after 9/11 the INS/State Dept. sent Atta his visa. These are the people who are going to keep us safe. Joke. This is all about grabbing power. Over on Drudge there is mention of, yes indeed they are arming the drones that have just been approved. Anyone who cannot see what is being planned against us has to be very dense.

    • Witness the End

      We all had prior knowledge! The Trade Center was bombed in 1993. We should have had the Patriot Act set in place by 1994. Our government completely failed to take a more aggressive anti-terrorist stance during the Clinton administration. Should have, would have, could have saved lives.

      Hell, the military had been warning of an attack since the 1980′s. I was only an enlisted rifleman, yet we trained for small terrorist attacks even back then

      • http://thetruthfulone.com The Truthful One

        Annette and Witness the End, I should have been more clear in my implications.

        President Bush had prior knowledge about 9/11, because he knew it was going to happen AS PLANNED.

        9/11 was a ‘false flag event’, not an Islamic terrorist attack.

        False flag events are covert operations designed to deceive the public in such a way that the operations appear as though they are being carried out by other entities.

        In the case of 9/11, the blame was placed on Osama bin Laden, Al Qaeda and Islamic Terrorists. This justified the wars in Afghanistan and Iraq where the elite stole those countries resources(oil, rare earth minerals, opium poppy plants, etc.), and allowed our corrupt leaders to pass laws that removed our freedoms.

        Our enemy is much worse than Islamic terrorists. Read this research page to find out the truth…

        http://thetruthfulone.com/911-truth/

        • GaryToo

          as well as ongoing incidents to keep the fear factor and reduction of our freedom and move toward police state. The youngfrench guy, islamic extremist who won the scooter who ended up shooting it out with police.
          He was very well known already, he was apprehended in afghanistan for being in areas he was not meant to be, the afghans handed him to the us who handed him to the french. If he was doing nothing wrong in afghanistan that would not have happened. Yet the french police said they had to accept his story that he had been holidaying as a tourist.

  • andrewleiner

    3rd post after being deleated. The Euro is doing what it was designed to do, collapse. Why? Because it was only meant to be a step toward a One World Money used to create a One World Government which will be used to form what Satan has been working toward for all these thousands of years, a One World Religion. Satan will be worshiped as the number one god and the AntiChrist will be worshiped as Satan’s Sith Lord. When will the Euro collapse? When Satan’s lap dogs are told by him to pull the plug and not one day sooner. I have been waiting for this for 39 years and change. And now it is here. Forty years ago I would do my doomsaying and the people would wag their heads and poopoo me. Now, things have changed. Many nod and many are becoming Preppers.
    ANDREW LEINER MASTER DOOMSAYER.

  • andrewleiner

    x The Euro is doing what it was designed to do, collapse. Why? Because it was only meant to be a step toward a One World Money used to create a One World Government which will be used to form what Satan has been working toward for all these thousands of years, a One World Religion. Satan will be worshiped as the number one god and the AntiChrist will be worshiped as Satan’s Sith Lord. When will the Euro collapse? When Satan’s lap dogs are told by him to pull the plug and not one day sooner. I have been waiting for this for 39 years and change. And now it is here. Forty years ago I would do my doomsaying and the people would wag their heads and poopoo me. Now, things have changed. Many nod and many are becoming Preppers.
    ANDREW LEINER MASTER DOOMSAYER.

    • Annette

      You are right on. Because we have the Bible to share this with us, over 40 years ago even, we know the path that the world is on. Debit cards were set up as a step to take us one closer to the chip in the finger or forehead. Be glad that you know what is really going on. Our redemption is very close at hand!

    • GaryToo

      master spammer more like it, stop wasting webspace,

  • Antonio Gonzalez

    Remember, Jim Cramer is a Wall Street tool.

  • GoneWithTheWind

    “Good for Greece/France for saying NO to austerity”!! Can you be that stupid/naive? It is the leeches and lazy in Greece and France that has caused this problem. The belief that they are entitled to “free stuff” at the expense of the taxpayer. Your post is proof that our school system has failed us all…

  • http://worldendsat5newsat11.blogspot.com Tony Lamb

    But when Greek troubles come home to the US we will have troops in our streets, martial law, guns confiscated, supension of all our rights, your money will be worthless paper, FEMA camps will start to bulge from all the people being moved into them for re-education or extermination, riots, massive civil unrest, corruption, murder, rape, cannibalism and the list only gets worse from there. You can buy Gold & Silver but you can’t eat gold and silver will not keep you warm and diamonds will NOT protect you and your family. See a Serious and Real FREE survival plan for you & your family at:
    http://surviving12-21-2012.blogspot.com

  • Kevin2

    Once again we are seeing the fallout of unfettered globalization. Europe with the exception of Germany and Switzerland that make very high end goods have been de-industralized and with it went their wealth creation. The citizens hoodwinked into accepting the European version of the “New Service Economy” that Free Trade created had debt replace wealth. All of this is too similar globally to be accidental.

    The supply demand system is out of kilter when millions toil manufacturing goods that they cannot afford to purchase.

  • Jack

    Jim Cramer? Really? Like he knows what he’s talking about? He’s an idiot. Completely missed the warning signs of the 2008 meltdown. Hardly a sage. He’s just parroting the obvious. Anybody that follows the news knows this is going on; and will continue. As the former head of the BoE once said: It’s not a good idea to start a bank run, but it is a good idea to participate in one.
    There is no way for the EU to kick Greece out if it doesn’t want to go. They never created a mechanism for booting countries out.
    Greece is not the problem, most of it debt has been written down by bond holders(they were forced to). The real problem is Spain. It’s housing bubble was larger than our’s and it’s unemployement is at 21%.
    Spain is the country that could bring down the EU AND the US.

  • Washington

    Harry Browne – Cashing Out Social Security

    http://www.youtube.com/watch?v=-VvHETVmy-I&feature=g-all-u

  • Westie

    There has not been any ‘austerity’ anywhere, ZER0, nana, none! Every GD Government on the Globe has been taxing and spending as if there’s no tomorrow.

    • mondobeyondo

      Governments are alcoholics, only their “alcohol” is money.
      They’ll never admit there is a problem. They’ll never admit they need help.
      All they want is another drink from the bottle, um, central bank.
      Any way they can, and every which way but Sunday.
      They’ll tax you to death. Inflate the currency. Just give them more MONEY!!

    • GaryToo

      damn straight mate!

  • Nostradamus

    What’s the difference between US an EU financial trouble?

    “A few EU states borrowed too much and now can’t repay the banks of the other EU states.

    Just about everybody, business and states in the US borrowed too much from Wall Street banks who in turn borrowed from the Fed, and now nobody can repay.”

    OK OK we know that. But what’s the real difference?

    “US wants to solve its problem by debasing its currency. EU, however, includes a country called Germany who instructs strict inflationary discipline and therefore refuses to debase the Euro. But if Eurozone refuses to debase the Euro, a US dollar debasement will debase US standard of living relative to the EU. So the political and financial elites in charge of US is doing everything to blow up the Euro, so that US can inflated its problem away without causing too much discomfort.”

    Wow! What do you call that?

    “I call that Economic World War 3.”

    But how would it end?

    “China is watching them to blow each other up. Then it will introduce its fully convertible new currency to the world. And takes over.”

  • Annette

    As far as some believe, there is going to be a worldwide hurt put on the financial system. When it happens and how is ???. As a Christian, we see a one-world gov being set-up. There is a disintegrated financial system that needs reviving, which the AC revives. He causes prosperity. Of course, I am told that when all the people who are raptured have their assets transfered to the remaining relatives, people are glad that the Christians are gone. Not only are people richer, but they can do whatever they want and no one says anything, reminding them of what Jesus would want them to do with their lives. So, no witnessing happens and they get all the “stuff” that is left behind. But, there still have to be something that causes Europe to fall into the financial abyss. I don’t know who is propping up all the different countries, oh, I know, the ECB and other EU entities..but the people behind all these institutions…where are their brains? They are throwing good money after bad. I am amazed that they don’t understand economics. So, they have created a larger problem, so huge with the derivatives that are in play, that the financial system they wanted to keep going is going to crash big and hard around their heads. It’s a slow one. The descent into darkness will happen. There is no saving of the financial system.

    • GaryToo

      rapture already happened annette, you must be one of “those who endure to the end”. Sorry.

  • David

    Cramer is a tool of the far-left media. NBC is nothing more than the ministry of propoganda for the Obama regime.

    Cramer talks out of both sides of his mouth. One day, he talks how “scary” things are getting. Next day, he’s talking about loading up on stocks. Yeah, let’s load up on equities right before the euro crashes and QE3 begins. Great idea.

    Bet the guy owns a ton of gold, while talking bullish about the stock market.

    • Gay Veteran

      what far-left media? they’re all owned by big corporations

      • Mal R.

        Obtuse much?

        • Gay Veteran

          eyeroll, obtuse is not a verb

  • ScoutMotto

    I wonder when they predict bank runs and financial anarchy in the US..

  • Mad Max

    It will come to the U.S. also. And it will hit us even harder because we’re use to living off backs of the rest of the world. They can’t support the enormous parasite that we’ve become.

    FIGHT THE CAUSE – NOT THE SYMPTOM
    OsiXs (Revolution 2.0 – The Smart Revolution)

  • Arius

    Jim Cramer is a jackass, a showman. I pay attention to others that have a credible record. Cramer is not on the list.

    • Me No Likey

      You took the words right out of my mouth…well, except I would have called him something else (but that would have been “moderated” and consequently never published as a comment)…

  • Evie

    The patriot act along with other encroachments of our rights were planned long before 9/11. Written in ron pauls book end the fed. Regardless of the control lots of things manage to go unnoticed right under their noses. It also looks like the system is colluded and corrupt entraping the average citizen. The banking system killed more people than the war on terror.

  • Kenny

    Inflation, inflation, inflation, that’s what’s in the cards.

    The parasites demand it and the producers don’t have the balls to let the parasites in the Med countries, including France, to stew in their own juices.

  • paul

    You really have some surreal people there. No wonder the usa needs to make wars to get something like respect.

  • http://erectuswalksamongst.us Meat Glue

    I stopped watching, listening to, or reading anything Jim Cramer says or does.
    His coke-fueled, spittle-flecked rants are all about the circus, not economics.

  • Paula Wagstaff

    Glad you are on board now Jim with your BOLD predictions….
    When other bold ones came forth back in 2005 and predicated a recession followed by a depression even the vast majority of Christina minnsters scoffed and mocked, and said God wants you to be rich.
    Glad you are now on board. Welcome we have been saying this a for while and waiiting for you all to catch up…Find the ‘narrow path’ and thats where the est view is.
    At least the big named ministers have stopped persecuting.

  • Washington

    Guest Post: More Than 30 Blocks Of Grey Decay Submitted by Tyler Durden

    http://www.zerohedge.com/news/guest-post-more-30-blocks-grey-decay

  • Paul

    Bank run?

    Who has still enough money?

  • Washington

    Sep 13, 2010 Obamaville, Wasting Away in Obamaville, election song, obama song Wasting Away again in Obamaville!
    http://www.youtube.com/watch?v=0-tsgMsU4Ws&feature=related

  • Piglet

    I remember Cramer’s recommendations regarding Bear Stearns in early 2008. Maybe he wants to get it right this time for a change.

    http://en.wikipedia.org/wiki/Jim_Cramer#Bear_Stearns_recommendation

  • http://itsafluffy.blogspot.com DL

    Really, Michael…Cramer????

  • Washington

    For Your Consideration in the next election cycle:

    Here is the list of Senators who voted FOR (Aye) the use of 30,000 drones over the land of Liberty: Votes by Senator The Pro-Drone Senators Posted on May 10, 2012

    http://fellowshipofminds.wordpress.com/2012/05/10/the-pro-drone-senators/

  • Sean

    Cramer is dumber than a hammer. I wouldnt trust him to predict rain in a hurricane.

    • Kevin2

      Sean

      He is as dumb as a fox. I honestly believe his purpose is to intentionally misdirect investors. He has been paid very well to be wrong very often. I often have seen him chase stocks that already we’re climbing but were virtually played out.

      Bank run in the US when we print our own money? Grab your Federal Reserve Notes and put them under the bed thereby removing them from circulation and hence fueling inflation?

  • http://theeconomiccollaps mohsen samii

    The evil that has been put in place by and through the Anglo Saxon and ************* capital will continue on its forward march to the bitter end bringing down all the economies of western Europe and the break up of the European Union itself. If the this monetary does not do the trick then their ace card will have no choice other than create a military conflict ushering in the third world war. God knows how many so called “enemies” have been lined up for this purpose- mainly the Muslims will be used as the first wave I fear. No wonder that the US is painting the Muslims as enemies in order to justify their evil actions; however one should not overlook that old saying – ” What goes around comes around”.

  • Washington
  • Washington

    Judge Strikes Down NDAA, Rules Obama Must Obey Constitution MAY 19, 2012 BY DOUG BOOK 

    http://www.westernjournalism.com/judge-strikes-down-ndaa-rules-obama-must-obey-constitution/

  • Louise

    Jim Cramer? Seriously?

    The same Jim Cramer that not five years ago was acting like a deranged ape -well, he still does that- and telling us we would all be rich, rich, RICH because housing would never collapse, the stock market was as true as gospel, and the economic structure was golden.

    I can’t believe people are still listening to these idiots. People
    truly do have the attention span of gnats.

    Oh, well.

  • Gankfest

    lol @ using JC as a source…

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