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Look Out Below – The Nightmarish Decline Of The Euro Has Begun

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The euro is a dying currency.  On Thursday, the EUR/USD fell below 1.28 for the first time since September 2010.  In fact, as I write this the EUR/USD is sitting at 1.2791.  Back in July, the EUR/USD was over 1.45.  But this is just the beginning.  The euro is going to go a lot lower.  At this point, there are several major European nations that are on the verge of default, the European financial system is overflowing with debt and toxic assets, and most major European banks are leveraged about as badly as Lehman Brothers was when it collapsed.  Most Americans simply do not grasp the gravity of what is happening.  Just because the Dow is sitting above 12000 and a few U.S. economic numbers have improved slightly does not mean that everything is going to be okay.  As I wrote about recently, the EU has a bigger economy than we do and they have a bigger banking system than we do.  U.S. banks are massively exposed to European sovereign debt and European banking debt.  When the financial system of Europe collapses and the euro falls apart it is going to rock the entire planet.  So you better look out below – the euro is coming down and it is coming down hard.  After the euro implodes, nothing is every going to be the same again.

So how far are we going to see the euro decline?

Julian Jessop of Capital Economics expects the euro to fall much further….

The relative strength of the recent economic data from the US is supporting the dollar more generally, and we expect this divergence to persist as the euro-zone slides into a deep and prolonged recession. Above all, doubts about the very survival of the euro itself are likely to remain a drag on the currency. We therefore continue to expect the euro to fall to around $1.10 by the end of the year.

Others are even more pessimistic.

As I have written about previously, the head of global bond portfolio management at PIMCO believes that the euro is going to go even lower than that….

“Parity with the dollar next year is not out of the question”

Can you imagine that?

1 dollar = 1 euro?

Don’t think that it can’t happen.

But the decline of the euro is just part of the story.  The truth is that Europe is on the verge of a financial collapse that could end up dwarfing the financial crisis of 2008.

Sadly, most Americans have no idea what has been going on in Europe the past few days….

-The stock of the biggest bank in Italy, UniCredit, is absolutely collapsing.  Shares of UniCredit fell 14 percent on Wednesday and 17 percent on Thursday.

-Shares of another major Italian bank, Intesa Sanpaolo, fell 7.3 percent on Thursday.

-Shares of three major French banks all fell by at least 5 percent on Thursday.

-Even shares of German banks are falling like a rock.  Shares of Commerzbank fell 4.5 percent on Thursday and shares of Deutsche Bank fell 5.6 percent on Thursday.

-The yield on 5 years Italian bonds is back over 6 percent and the yield on 10 year Italian bonds is back over 7 percent.  Analysts all over Europe insist that that the Italian debt situation is not sustainable if rates stay this high.

-Italy’s youth unemployment rate has hit the highest level ever.

This is mind blowing news.

But what is the top headline on USA Today right now?

Employers Impose Bans On Smokers

These are some of the other top headlines on USA Today right now….

“Automakers Rush To Offer Apps In Your Car”

“Bargain Season At Taco Bell, Pizza Hut, Wendy’s”

“Does Your Dog Understand You? Study Says Maybe”

Is that what passes as news in this country?

A financial meltdown of historic proportions is happening in Europe and you cannot even find anything about it on the front page of USA Today.


All of us need to snap out of our television-induced comas and start waking up.

Things are about to get really bad for the global financial system.

At this point so much confidence has been lost in the euro that even the Council on Foreign Relations is admitting that the euro is a failure….

The euro should now be recognized as an experiment that failed. This failure, which has come after just over a dozen years since the euro was introduced, in 1999, was not an accident or the result of bureaucratic mismanagement but rather the inevitable consequence of imposing a single currency on a very heterogeneous group of countries. The adverse economic consequences of the euro include the sovereign debt crises in several European countries, the fragile condition of major European banks, high levels of unemployment across the eurozone, and the large trade deficits that now plague most eurozone countries.

If even the CFR is throwing in the towel, that should tell you something about what is about to happen to the euro.

There is a very real possibility that we could see the euro break up at some point during the next couple of years.

It now seems that a report produced a while back by Credit Suisse’s Fixed Income Research unit was right on target….

“We seem to have entered the last days of the euro as we currently know it. That doesn’t make a break-up very likely, but it does mean some extraordinary things will almost certainly need to happen – probably by mid-January – to prevent the progressive closure of all the euro zone sovereign bond markets, potentially accompanied by escalating runs on even the strongest banks.”

The European debt crisis just continues to get worse and worse.  None of the solutions that European leaders have tried have worked.  We are rapidly approaching the meltdown phase of this crisis.

As I have written about previously, it doesn’t take a genius to figure out what is happening in Europe.  The equation is simple….

Brutal austerity + toxic levels of government debt + rising bond yields + a lack of confidence in the financial system + banks that are massively overleveraged + a massive credit crunch = A financial implosion of historic proportions

Unfortunately, what is happening right now in Europe is eventually going to happen in the United States as well.

As I wrote about yesterday, U.S. debt is a ticking time bomb that is going to devastate the entire global economy at some point.  Nobody knows when the implosion will happen, but everyone knows that it is inevitable.

When Europe falls apart financially, that is going to make our own financial system much less stable.  What is happening in Europe could turn our “limited recovery” into a “major recession” almost overnight.

So keep your eye on the euro.

If the euro keeps going down, that is going to be really bad news for the global economy.

Unfortunately, the truth is that the decline of the euro is just getting started.

Hold on to your hats.


The euro continues to drop like a rock.  Right now it is at 1.2721.


  • thebestofall007

    Thanks Michael for posting this kind of info the alphabet channels neglect to show. It’s my first time commenting here, so be easy.

    • Michael

      Of course. 🙂

      I am always glad when some new people decide to start leaving comments.

      The more people that leave comments the better the discussions will be.



        This article is a complete fraud. The Euro is in no danger of collapse. Dollar for dollar or Euro for Euro, the European Union has far less debt than the Asylum States. This is merely a propoganda campaign to prop up the dollar against the Euro, to ensure that the dollar remains the world’s reserve currency……….

        • Michael


          Let’s revisit this in six months and see who was right.


          • Zazz

            That’s easy. You won’t be right because you keep calling doom and have for years.

            And still no doom.

          • jd

            You both are – both are heading down. Both are backed by political systems that have utterly failed their people.

        • Zedge Hero

          I bet you a dollar the dollar will last longer than the euro, and if I win I will cash in for silver. Actually, watch precious metals like gold and silver take a big hit as all investors flock to the dollar as the euro crumbles and even a brief euphoria of sorts for the us consumer as the dollar gets real strong real quick, then the dollar bubble will burst and gold and silver will be highly sought after items, along with ammo and food. Get ready for the monetary collpase, I mean sovreign debt crisis to get real. Bank Holiday anyone? Got paper? I would cash it in, for the casino is about to close for good.

  • Gutter Economist

    So keep your eye on the euro.

    And invest in EUO (Proshares Ultrashort Euro).

    For every percent that EUR (the Euro) falls versus USD (the US Dollar), you will make two percent.

  • kwark

    Yikes, I understand your frustration with the media but, honestly, they are simply the mouthpieces of large corporations that have a vested interest in keeping the ball rolling, actually informing us comes way down the list. Combine that with the smoke and mirror games from the corporate world’s other wholly-owned subsidiary – our government – and here we are. The cynic in me also suspects that, like the reality TV addict who didn’t know about he tornado until the lights went out, a majority of our countrymen we will continue to ignore what little information we do get until we simply can’t.

    • pavan

      It’s odd that you blame everything on corporations. It isn’t corporations who have been promising unaffordable entitlements and running the printing presses to cover their bills. It is very dangerous to ignore the role that politicians have played in creating this mess. Blaming the problem on corporations suggests that the solution is more government. In fact, government is the problem. Of course, crony capitalism aka fascism is part of the problem. The solution will ultimately be to return to having a semblance of a free market, where companies fail when they make a bad decision. The last thing we need is to keep trashing the idea of free markets and pretending that capitalism created this problem. Socialism and big government created the problems, along with too many people wanting a free ride.

      • Tanarus

        “It’s odd that you blame everything on corporations. It isn’t corporations who have been promising unaffordable entitlements and running the printing presses to cover their bills. It is very dangerous to ignore the role that politicians have played in creating this mess. Blaming the problem on corporations suggests that the solution is more government. In fact, government is the problem. Of course, crony capitalism aka fascism is part of the problem. The solution will ultimately be to return to having a semblance of a free market, where companies fail when they make a bad decision. The last thing we need is to keep trashing the idea of free markets and pretending that capitalism created this problem. Socialism and big government created the problems, along with too many people wanting a free ride.”

        TOTALLY agree! No one wants’ to work anymore. They want stuff for free. Sorry…Life don’t work that way. Look around…

        • Gary2

          No its just corporations who privatize gains and socialize losses. How many of Walmarts workers on state health insurance for the poor? 90% of corporations are scum.

      • jox

        How easy! Everything you don’t like, you call it socialism. Then you reach the conclussion that socialism is bad. Hey, good reasoning.

        • Gary2

          people on the right are low information dolts.

      • imatool

        Pavan is right. Our political system set up this house of cards, not the corporations. Corporations only try to do what’s best for them given the playing field that they find themselves on. The state determines the playing field, and how lopsided it is. More corporations would be keeping jobs in the US if they were not being pushed offshore by burdomsome regulations, taxes, and labor laws. This doesn’t mean that large corporations don’t make deals with the government to give themselves an advantage in the market, just look at the number of large corporations that have been granted waivers from needing to comply with the Obamacare laws that will be coming into play over the coming year. Another great example of the Government causing an envionment that led to problems with the free market is the housing bubble that we are still feeling the after-effects of. This was caused by increasingly relaxed lender practices that were kicked off by the Community Reinvestment Act of 1977, and tweeked with addistional legislation through the mid 2000’s that forced lenders to adopt increasingly hazardous lending practices in order to remain competative. The brillent part of this whole scam is that the legislators then blame the private sector when things go south, and then they come in to save the day by passing more laws that attempt to “fix” the problems that the earlier laws they passed created. Gotta love politics. 🙂

  • As the Euro declines the dollar will become the safe haven until contagion brings it down then precious metals will become the last store of wealth just as it has been for over 3,000 years.

  • BenjiK

    As the EU is our largest trading partner, $319.6 billion in imports, $239.8 billion in exports, how will this effect the dollar? Theoretically, given the dynamics, wouldn’t a financial collapse in the EU actually strengthen the dollar? I realize the global financial markets are interconnected, but wouldn’t there be a “breaking point” in which our economy would stand on it’s own merits? Could this be a driving factor in the U.S. markets as of lately? It seems the U.S. stock market has become oblivious to financial turmoil as of late. Any thoughts and info would be appreciated.

    • Ben Dover

      A large portion of that $319.6 billion will not be spent on American goods, both because American goods will be more expensive and Europeans will have less to spend.

      A Euro crisis will indeed strengthen the dollar in the short term, as fools run to the “safe haven” of Treasuries. A big danger is that when that happens, many americans will think the current depression is over, and USA’s troubles are behind us. Wrong!

  • Tapper P.

    I LOVE the “what is the headline on USA Today” right now!?

    For years I have loved looking at REAL blog news and comparing it to the propaganda and distractions spewed forth by the MSM. Excellent!

    Really awakens a person to how powerful the bankster media is at manipulating the sheep.

  • nowwthen

    Unfortunately many Americans will only see the currency exchange rate as an opportunity to get a good deal on European products or vacations. Now where did I put those Ducati brochures?

    • DB200

      Right next to the Ferrari brochures. When the euro comes down, they are affordable again.

  • Dr. Detroit

    I’m pretty sure the Euro was at par with the Dollar before it shouldn’t be that much of a surprise.

  • Gary2

    I find it interesting that the euro countries that are doing the worst have followed the USA deregulation model. The countries that are fine like Northern European and Scandinavian countries rejected the USA model.

    Time to rethink capitalism as the more socialist countries are beating the pants off us. This is a fact you can Google yourself. Norway/USA—Sweden USA and see how badly we are getting our clocks cleaned.

    • pavan

      Sorry Gary2. The EU is more socialist than we are, and it’s failing. The more we adopt the EU welfare state policies, the faster we join them in the trashbin of history. Socialism always fails and the US is proving it with it’s Nanny State policies. Unfortunately, socialism is like cancer. Once it get’s started it’s difficult and painful to stop.

    • Tel

      Norway is a primary oil producer, and with oil being what they are, Norway can afford a lot of generous welfare. Good luck to them while it lasts because oil prices are only going one way from here. But really, you might as well say that Qatar is a model economy. Having oil is good luck, not good planning.

      Sweden is more interesting. They also have primary resources (wood, and hydro-electricity) but they make the wood into furniture and thus have a strong manufacturing industry. Actually Sweden did stand out as a generous socialist welfare state 10 years ago, but they have been moving away from that. They have been slowly and steadily cutting government spending (but doing it in a controlled manner), and also lowering tax, and government debt-to-GDP ratio is down too.

      By the way, Swedish welfare is run by local municipalities, more directly under the community control. This seems to work better than federal welfare run by massive departments without any connection to the people (i.e. like US welfare operates). I would guess that Sweden gets much better efficiency on their welfare effort.

  • mondobeyondo

    “Does Your Dog Understand You? Study Says Maybe”

    If you read USA Today, you’ll realize your dog knows more about our current financial situation than the average American does. Arf, arf!!!

    Ask your average pit bull terrier or German shepherd about the latest European bond yields. But a bloodhound is even better. Bloodhounds have excellent noses, among the best canine noses and far better than human noses. Bloodhounds sniff out the, um, poop (literally, figuratively, and politically, hee!!) much faster than anything else can.

    I submit to you my own bloodhound…Jessica!

    (oops! Mighty Dog time! She’s eating. Sorry…)

  • mondobeyondo

    The euro is dead. So is the dollar, for that matter. It’s just a matter of time.

    They are both fiat currencies. (Fiat currencies = money backed by nothing of substance)

    Every currency in the world is a fiat currency. This “money” is being held up by nothing but blind faith. Nothing is backing it. There is nothing of substance behind it. Not gold, or silver, or copper, nickel, zinc, rare earth metals, or Tupperware, or Kenmore washing machines. Just the belief that their loans will be paid off because of their nation’s assets (ha ha!) – which really helps the nations in the Third World, doesn’t it? They didn’t have much to begin with. Now, we’ll rape you for what you’ve got left.

    What happens when the lenders scream “you PROMISED us you would pay our loans to you back to us over time!!” and the debtors are unable to do so? Ummmm.. good question. The immediate answer is… bankruptcy.

    What collateral do you have? In other words, whatcha got, dude? A house? Beachfront property? Diamond ring? Lady Gaga’s used coffee mug? Three square inches of Beverly Hills dirt? Okay, I’ll take it!! I could get $300,000 just from Lady Gaga’s coffee mug!! An extra $100k for the coffee stains, of course. And that’s assuming Lady Gaga even drinks coffee!

    It didn’t use to be this way. Until 1971, the U.S. dollar was backed by gold. (i.e. “It’s as good as gold!”) It doesn’t work like that anymore.

    Yes, I know I’m preaching to the choir. But there seems to be some newcomers to the soprano section, who don’t know what’s really, REALLY going on. Ohhh, if only you knew….

    As usual, I’ve gone off topic into left field, right field, third base, and into the upper deck of the stadium. Sorry about that!!

    • Tel

      Fiat currencies are backed by the violence of the state (and threat of violence). You are forced to pay tax, and the tax must be paid in the fiat currency. It’s a protection racket in other words.

      It only fails when the state is no longer able to force people to pay tax, or when it cannot offer them adequate protection to make it worth paying for.

      I’ll point out that if you weren’t paying protection money to the state, you would be paying it to some gang or some other country would invade anyhow. Violence is a commodity, and lack of violence is the flip side of the same commodity.

    • DB200

      “What collateral do you have?”

      Well, the Greek have (governmental) buildings. And they now provide it as collateral for new loans. With the new loans, they are going to buy old loans (selling at 65% below nominal value), thereby reducing their debt. So for 1 billion new loans, they can buy 2.5 billion old loans.

      Not that this is going to help them, only that it delays bankruptcy. And when they then go bankrupt, the collateral is asked for and then they find out that their complete country is owned by foreigners.

      I you didn’t know yet, the new (unelected) prime minister Lucas Papademoshas has ties with Goldman Sachs. That may explain this proposal instead of declaring bankruptcy.

      • mondobeyondo


        And the same thing is already happening here. We are selling our collateral (property) to the highest bidders, and the vast majority of those are foreigners. The Chinese are even building our national monuments, like the MLK Memorial. German steel manufacturers are building the new World Trade Center.

  • yhung

    I always think that Euro/ USD and hence ww economy will be crashed ON PURPOSE before NWO can be accepted by all countries willingly. I still think I am correct seeing all the going-ons now.

    We sure live in “interesting” time!

  • Gabrial Singh

    msybe you oughta stop getting all your info from a right wing trash rag like usa think??

    • jake tapper are right CNN (Communist News Network) is SOOOO much better, mada chode

    • mondobeyondo

      CNN and MSNBC aren’t any better.

  • Jay

    I’m shocked by the transition over the past months. Leaders in finance have gone from cheering the Euro to further false highs in October, to guaranteeing its collapse in January.

    Hold on – wild ride ahead!

  • mark

    All you can do is try to get out of debt and prepare for hard times coming. Stock up on food and other items that you might need. Become as independent as possiable. Things will get real nasty in the cities. Move to a rural part of the country as soon as you can. Learn the skills to grow a garden and store the seeds. Start very soon while you have time.

  • Ben Dover

    Just like in USA, the European prosperity is largely false, being financed through debt. The world will not end, Europe (and USA) will just have to learn to live on what it actually produces. This will be painful at first, but to the next generation, it will seem normal.

    People will learn that they can eat at home for less than they can if someone else cooks and serves their meals, they can indeed live without getting the newest IPad on the first day of release, and shockingly, that they can’t stop working while in their 50s and be on vacation the rest of their lives. It will also become normal (in France) to work more than 35 hours in a week. These things will cause a lot of stress and anguish for many, but in the words of Johnny Cash, “You’ll have to get tough or die!”.

    Tax the needy to help the greedy, blah, blah…

  • Ian

    sigh… i just returned from India and i am reading these articles after being away for 2 months. While i agree things are looking not so rosy right now for the u.s., you all have to understand that we are a very long way away from the end. In india, people are living in squalid conditions with no sanitation and things are absolutely horrendous for the average person. But guess what? They are still alive and they work together and they still feed themselves and have smiles on there faces. Maybe if we Americans would lose our materialistic outlook and live more spiritual lives, we would realize the joy and the wonder of our life here on earth. We are so seperated from the beauty and wonder of God and the glories of the universe we live in, that we cower in fear as our comfort level and the things we used to love are being threatened. We are clinging to the past and what has been. We need to look to the future and the present to what we have and what we can do with what we have.
    We are a beautiful species who has forgotten our innerant worth as children of god. The truth of life is we are all born with a ” heart shaped vacuum” that longs to be filled and longs for the creator. You are all living in fear of collapse rather than embracing this time as a wonderfui oportunity. We need to see this all as a good thing. Evolution is accelerating and god is molding us as a species into his perfection. Do away with the fear and embrace love. Now is the time. A planet brings forth an opportunity like this only once in its lifetime. We are ready. We are poised. and together, as a united body of god, we can pull through this difficult time and unite as one common secies. The nature of the universe and god is for the ultimate good. Everything is working in perfect harmony. We will survive this and this is the most amazing time to be alive. Embrace it.

    • JC

      Bro – Jesus is the way, the truth and the life… NO ONE has relationship with God except through the son (Jesus)! Thru the perfect blood of Jesus we can rejoice in eternal life and KNOW that we are sons and daughters of the Most High God! Massive blessings

  • Pat

    From where I sit here in Spain I have a front row seat of the charade called Socialism and economic collapse. I have been living here in Europe, first Denmark now Spain, since 2000. I can tell you one overwhelming fact, these so called bankers are crooks.

    What do you call it when a banker robs his own bank and then inflates the amount of money stolen by the supposed theft? Now they whine about how the “crisis” will hurt everyone. Oh please. Spare me! These people are a joke. They are simply crooks and nothing more. I know because I am a banker myself. Back in New York where I grew up the streets were full of petty thieves and scam artists.

    To cover their crimes they will flood the media with stories of collapse and war. While you focus on that deception they are buying all the gold and silver on this planet and leaving you holding worthless paper promises.

    If you want to learn how to protect yourself economically and profit from all this economic doom and gloom contact me here:

    Otherwise, have a good snooze.

  • Scott

    Most people in the Eurozone never thought beyond the benefit of a single currency to save people from having to lose on currency exchange when travelling abroad.

    No one ever thought about what the economic implications for a single currency and single fiscal rules would mean for their own countries.

    Well the chickens have finally come home to roost. There is no way out for most countries other than either brutal austerity to please the IMF or default and drop out of the Euro which is basically the financial equivalent to being thrown to the wolves.

    Germany is in danger of turning the whole EU zone against them and we all know what happened last time that came about. All thats happening is a massive game of extend and pretend to keep banks solvent. Portugal, Greece, Ireland and soon Italy & France will have to make decisions to either fall in line and keep the bankers happy or default and try to do something that wont indebt future generations. I know which way I would bet!!

    • deadby2020

      Pat: What you say is dead on. But, the ‘metals’ scam is just another ponzi type deal. Let’s say the world has gone to hell and the financial ‘collapse’ is in full force, i.e.loaf of bread 10 bucks. Are you seriously suggesting I could walk into Walmart with gold coins? Or take gold into a designated ‘gold for currency’ type store? And what kind of currency are we taking about here? We would have to adopt the Gold Standard again which wouldn’t
      be accepted by the rest of the world. Another point to make that here in the U.S. $600 is the limit for buying gold without tax forms. The UK has a new law that caps ANY purchase in cash at $2500. The final question is this, who is going to buy/exchange your gold when money becomes more worthless than it already is?

  • Paul

    “for the first time since September 2010”

    Which only means the rate was lower before that. And indeed, if you look back 5 years or 20 years or even 40 years, the Dollar was much stronger then compared to the Euro or DM or other currencies.

    A low Euro means Europe can sell more products. Sure, raw material becomes more expensive, but with highly efficient German companies this expense is shrinking.

    Germany put a tax on energy use a long time ago. Now A VW Golf Turbo Diesel gives you 56 miles per gallon on average straight from the factory. Passiv houses in Germany now consume 15kWh electricity per square meter and year for heating and hot water, and that with -20C winters.
    If you build low energy houses you get loans from the government with interests of 1% and less fixed for 10 years.

  • Paul

    “None of the solutions that European leaders have tried have worked.”

    Such solutions do not work over night. A classic mistake of MBA-type managers. They expect things to work immediately. But if living things, like humans, are involved, things take time.

    I expect results earliest at the end of this year if not next year.

    If you feel cold you need to get wrapped in blankets, not thrown into an oven or a microwave to speed things up.

  • ScoutMotto

    According to the court system, the mainstream media does not have to tell us the truth. So, it makes sense that they simply hold back news that is essential. I don’t really care what outfits Kim Kardasian wore, or what affair Britney is involved in.

    I stopped buying newspapers years ago. I get all of my news from a handful of websites, and one somewhat-local radio station that reports similarly to this website.

    • mondobeyondo

      The mainstream media caters to ratings, which depend on how people respond to their news, um, trash. Apparently, a lot of people want to know what Kim Kardasian’s latest outfit is. Or Kate Middleton’s. Or whether Kate Middleton is pregnant. Quick, dig up some tidbits about her! Anything!! Okay, found one! Did you know the Duchess of Wales loves apple and cinnamon oatmeal? (Three minute news segment about oatmeal coming right up!!)

      Late breaking news… Princess Kate is still not pregnant! (Awww, bummer!)

      And by the way, Frank Sinatra is still dead. Now, that’s a real shocker.

  • JP

    Stockpile with food, silver and AMMO.
    The sitiuation is getting dire by the day and it aint pretty in the EMEA as well.
    Our forces are going to Israel for war with Iran and Syria. This is a catalyst to what Gen. Wesley Clark said in 07. The U.S wants to go to war with 7 countries in the midle east and it’s becoming true. Look it up.

    • Paul

      Get yourself a house instead, and friends.
      AMMO – seriously – Ammo is what got the US in this quagmire in the first place.
      The government borrows money, buys ammo, blows it up and now what? How to repay that loan? With hot air?
      Right, get another loan to pay back, to pay interest and get more ammo.

  • Ulrick

    National debts :
    UK debt : < 950% of the GDP
    US debt : < 624% of GDP
    Eurozone debt : 220% of GDP (Greece's debt represents only 2% of the Eurozone GDP)

    Financial sector :
    American banks exposure to toxic assets : < 243,991 billions
    Financial sector in the economy : UK : 600% of the GDP, Eurozone : 100% of the GDP

    Central Banks bailout spendings :
    Fed : < 30,000 billions
    BCE : 274 billions

    It's not Europe that is sinking.

  • Papa Charlie

    According to Michael Lombardi the dollar can collapse as soon as april 2012. He thinks China wants to get rid of the dollar and they are in a hurry to do so.

  • Some of the pointy heads I’ve read, have indicated that when the Euro implodes, it will give a temporary bounce to the Dollar. Does anyone have any idea how long that bounce will last before we make that same treacherous slide into the abyss? Spoke with a silver guy yesterday, and he said we’ll look back on this time and wish we would have backed our trucks up to the silver-loading dock. This dip is really a gift from heaven. And ammo is cheap, too! All the metals are on sale!

    • McKinley Morganfield

      “… it will give a temporary bounce to the Dollar.”

      The colloquial term is a ‘dead cat bounce’.

  • Donald Wilson


    Unfortunately the government and the peole of this country do not want to admit that a problem exists, however, there people starting to wake up. Unfortunately, it may be to late. Good luckk

  • Cliff Hanger

    Top story is Britain is currently: “Breast implants explode.”

  • karen

    Some good articles and a vedio… Vedio ” Armed Chinese troops in Texas. Articles… New nationalwide FEMA camps should raise eyebrows, on the web site intel hub an article Senior Obama Admin: We are going to kill the dollar.

  • Rancher

    It seems strange the the Europe news and euro news has about all but dried up?

  • GT

    A good read and accurate. Most people do not even care nor know about what is happening in Europe.

    I think the Fed will print print print if the Euro sinks too low. I cannot give a figure but I do not think the Fed wants our dollar to rally in value. Our trade deficit will blow even higher.

  • Otown Right Guy

    It takes a pathetic currency to lose ground against the dollar!

  • Fred

    I don’t expect a European collage anytime so. Here’s why:
    There are rumors circulating that the U.S. Federal Reserve as well as the European Central Bank (ECB) are covertly printing money (or it’s digital equivalent) out of thin air and supplying it to European banks to keep them from going under, and to get them to buy European soverign debt.

    If true, this will buy Europe another 1 to 3 years without any immment threat of financial collapse. Of course, eventually we’ll have hyperinflation from these actions, but the can will have been kicked down the road into the future.

    • Rancher

      Prove that please ?

  • wily2

    The ‘ero’ was created to fail, by it’s failure so goes our dollar. W/out doubt the global bankers drew up the plans for all of this years ago. My concern is, will ‘they’ pull a Roosevelt or just outlaw physical ‘super’ precious metals? If ‘they’ will do it to Gerald C, I’d rather not ponder on that! The Swiss banks will not be a secure place. I believe that shrewedness can work, Americans are innovative! Just don’t (we the people) go blabbing it around!

  • William Lane

    So, what are investors to do?

    • Paul

      That depends on what’s your definition of “investor”?

      Do you want to invest in the future, or speculate to get more money?

      I tell you what I did:
      I insulated my house and installed efficient heating.
      So it will save me heating costs. Currently I use 20kWh per squaremeter and year for heating and hot water, with a very cold Winter. Less this year.
      My money (my salary and my savings) goes into repaying that loan.

      Yes, I still have saving. Don’t want to lose that house to the banks when I lose that job. Need to keep paying those rates, even when starving and freezing.

      You have some money left over? Rent the roof of your school and install photovoltaics. The best thing to do in a crisis is investing in education. Renovate that school. Install heat recovering ventilation systems, and daylight systems.
      This will also benefit the local job market and take some potential trouble maklers off the streets.

  • jox

    I think you trust way too much on the anglosaxon financial media. The low value of the euro is not necessarily bad. I know some companies whose exports have skyrocketed with this low euro.

  • mondobeyondo

    Yes, the euro is a dying currency. So is the dollar. And so is every other currency.

    They are all fiat currencies, backed by nothing but faith. Once people lose faith in their money, down they will goooooo……

    “I am me, as you are he, as you are we, and we are all together”. Something like that. (Sorry, haven’t listened to the Beatles’ “I Am the Walrus” in a while.) The point is, the global banking system is totally interconnected. Pay attention to what’s happening in Europe, because it will affect your family sooner or later.

    • mondobeyondo

      “Once people lose faith in their money, down they will goooooo……”

      Oops, forgot to clarify that. The answer is: both.

      Both the people and their country, and their money, will go down.

  • GetReal

    I have for the last two years been telling my family and friends that this Euro problem was going to bite us hard here in the U.S.

    I will share my prediction that one evening in the very near future, us Americans will go to bed, and wake up in the morning to find out that we are all BROKE!

    The collapse will come while most Americans will literally be asleep.

  • knightowl77

    Don’t you just love the nightly news? Apparently no news is good news…..

    We do have many more months of this…..kick, kick, kicking the can down the road….

  • mile

    whats the story with the red sculpture..?

    • Michael

      I wish I knew the story.


  • Gary2

    You stupid GD repubes and conservatives-this is your fault and your sickening policies:

    To anyone paying attention to the growing wealth inequality in the United States over the past 50 years it should come as no surprise that their is less economic mobility in America than in many other developed countries.

    he facts, of course, say otherwise. Economic mobility, i.e., the actual percentage of people who improve their economic status is less in the State than in many other nations in Western Europe and Canada.

    How can these so-called “socialist” countries provide better financial opportunities to their citizens than the greatest nation on earth? How can England, long “known” as a nation where class rules all, provide more advantages for lower income individuals to climb out of poverty than the land of the free? Aren’t we a classless society? Isn’t America the one nation where merit trumps class privilege every time? Don’t Americans rise or fall based on their work ethic and not the social class into which they are born? Well not exactly. As the NY Times article reports studies demonstrate that roughly two thirds of individuals born into families in the upper 1/5 income of stay within the the upper 2/5 of income while roughly 2/3 of people born to families in the lowest 1/5 of incomes never rise higher than the lowest 2/5 of income.

    • Gary2

      This was partially copy/paste from alternate. I forgot to put the link in the original post as I was so pissed at how conservatives have destroyed this country.

      • Ozmo


        I appreciate your anger at the inequalities, but what are you doing to help yourself. I get tax the rich spread the wealth is a popular motto for you and socialistic countries are doing better than the USA. But what are you doing to better yourself.

        I can proudly say I have paid my House off this month, and paid most of my debt to less than 3% of my earnings. I’m storing Food, ammunition, silver, copper (it will have some value for preppers) I’ve bought many hand crank tools which most people do not do now. I can honestly say I’m better off than when I made over 6 figures when I was in my 20’s. I’ve been so pissed off because I’ve lost more money to the gooberment than some people have made in there life.

        I’ll tell you a little bit about that gary2. I ran a business in the 90’s and made tons of money building and selling Red Rhino computers, so much so that Micro soft bought it out, I lost it due to tax law and was bitter for a long time. I blamed everyone and everything for losing so much so quickly. I was so bitter and hated life. I blamed God, disowned him and took every chance to bash him when I could.

        By the grace of God I’ve learned how to live, I mean truly live. I’ve learned that money is not everything. and I’ve come to accept God had nothing to do with me losing so much. When I focus too much on money I notice I can be bitter and even hateful. So I decided and with God’s help Money is what it is. Its green and more will be printed. While I know your stance on religion, I pray you know peace.

        I also hope you put your anger to good use. I would encourage you to visit the Church of LDS to get a plan on how to store food without breaking the bank. I know money is tight for you, but even as a working class man I am able to put away enough so I no longer worry.

        I know it will be bad, but I also know I won’t have to worry. I’ve only been preppering for about 4 months and feel confident. Please use that anger you have and put it to use.

        Just my 2 cents take it for what it’s worth. It took me a while to understand and respect your position. Even if I don’t agree.

        *Wishes you peace in your heart*


        • Gary2

          Thanks for your thoughtful post. You may be on to something about God. I am really really trying to see where religion is right, not where it is wrong.

          • Proftel

            Ozmo & Gary2:

            When the subject taught geography and religion always appeared the students questioned my position.

            With pleasure he explained to me that God is omnipresent and omniscient as the computer hardware.

            Religions are like the software, you can put a Microsoft, a Mac, a DOS, Unix, etc.. .

            For my part, I wrote my own software to access the hardware (which is my Father).

            I do not need a rabbi, priest, pastor, “holy father” or any intermediary to talk to Him

            Common sense comes from the crib, “who knows where it comes from really knows where they go” said my Polish grandmother.


            If I’m sorry, I am writing in Portuguese, copying and posting the translation here.

    • nowwthen

      Turns out our advice about using google to check out the facts works pretty well. I googled “gary2 socialist moron” and, sure enough, page after page of references to your posts pop up.

      • Michael

        I just tried that too. Gary you are famous on Google!


      • Gary2

        I told you my views are popular!

      • justamom

        I am laughing out loud! HILARIOUS! Thanks for letting us know!

    • bongstar

      This is to Gary.i understand that you feel aflicted by the current econimic situation, as we all are. I just ask you to pleas step back and look at it from a non partisan point of view. The truth is that reps and dems are equaly to blame for allowing it to happen. you see the federal reserve is a private bank, they are not a branch of the govornment.Congress rep and dem alike sell the Federal reseve US treasury bonds. and they do it at an astounding rate. Now the twisted part is that when the fed droped the gold standard they replaced worth as a bank from gold to treasury bonds. in other words they say that there dollars are worth
      something be cause they are owed money from the US govornmet in form of treasury bonds, that are expected to be paid back. this is why neither party will fix the national debt, if we didnt have debt to the Federal reserve the Feds dollars would be worthless. this is why the debt is exploding at such a rapid rate. none of them care about us is all they do is point the finger at the other party and tell us what they think we want to here so they can get voted in and have there chance at the endless check book. Industrialized nations are tied to this monster. If you are aware of the IMF they are reaking the same havoc world wide. it is all alot deeper and more interconected than most know and please remeber we are all brothers and we are all falling prey.

      • Paul

        So, if reps and dems are no different, why not elect someone new for a change?

  • Gary2

    Then when the rich take away our retirements, health benefits, jobs and homes no one steps up screams “Class Warfare” for us.

    Liberty and justice for all my ass.

    America can’t claim to be a classless society when the rich cry “Class warfare!” when they are asked to pay for the society they live in.

    Selected comments from alternet.

  • Im tired of this. ********** or get off the POT!!!!!!

    • Gary2

      I did drop off several job creaters in the toilet just now!

      • Gary2

        Feel 10 pounds lighter and 20 years younger! See what crapping capitalism can do for you?

  • godsofold

    “A financial meltdown of historic proportions is happening in Europe and you cannot even find anything about it on the front page of USA Today. Amazing.”

    Unfortunately it’s not amazing Micheal, it’s just the planned distraction. Or as I like to refer to how our government treats the American people is mushroom management: keep them in the dark and feed them a bunch of sh*t.

    Semper Fi

    • Rhynn

      And as we can see from the comments, the article is clearly too pessimistic. Collapse can’t happen. Just like recessions can’t, wars can’t, false flag attacks can’t, police states can’t, etc. etc.

      Except when they DO happen. LOL – these aren’t sheep. Sheep are smarter than this.

  • Chartist Friend from Pittsburgh

    This is quickly becoming my favorite financial blog. Economic Collapse knows exactly how to cut to the heart of the matter with overwhelming evidence. Here is how I see the situation:

    • Michael

      Hey I like the charts!

      Whenever you have new charts like that please feel free to share them here.


      • Chartist Friend from Pittsburgh

        Thanks. This one originally appeared on Of Two Minds, but it is worth reposting:

        “I tell you, use worldly wealth to gain friends for yourselves, so that when it is gone, you will be welcomed into eternal dwellings.”
        Luke 16:9

  • Angela

    It looks like a too pessimistic post. The euro zone economy is rather so-so, but not as bad as to collapse.

  • karen

    A really good book… John Loftus, Americans Nazi Secret.

  • Joel

    Human beings are inherently lazy & selfish doing what feels good and is easy to do. i.e. spend, spend, spend!!!

    Until GOD himself comes down from heaven to rule the earth, man will continue to be lazy, selfish and out for only themselves causing such issues and problems like we are seeing today.

    There are few honest decent humans left willing to put all on the line for the benefit of man-kind (think Ron Paul and the like) to help solve these HUGE issues the scum-bags before have put us in. I have faith, but at the same time Im not betting the farm on a good come out of this mess.

  • Ralphieboy

    A lot of my business is in Europe, and I spend half my year there – much of the time in Greece, where I maintain a small apartment. I have witnessed the collapse first hand. Fortunately for me, my clients, and for that matter, much of the bigger businesses in Greece, don’t keep the bulk of their money in Greek banks. The same is coming true for Greek small business owners and wage earners. They are fleeing the banks in droves, socking what cash they have under mattresses. The younger generation Greeks are leaving or have left the country, thanks to a 40% unemployment rate. The older generation – already having experienced hard times in their history – are going back more to a barter system. I know one lady who keeps goats in her apartment in Athens – yes – in her apartment – and she trades goat milk and goat cheese for her basic survival. Many others are going back to their villages and family farms on the islands where they can grow food and sustain themselves. But not all are doing so well. Blocks of store fronts are empty, taxes on everything are way up, and scores of people are sleeping on the streets. And it’s going to get a whole lot uglier. But that’s just Greece. Stay tuned for Italy, Portugal, Spain, and yes, France! With French banks holding so much Euro debt – the writing on the wall is clear and everyone in Europe knows it is a simple matter of time before the whole system implodes. When the French and German banks go down, so goes B of A, Wells Fargo and Citibank.

    This all begs the question – will we all be reduced to a 100% collapse – living on nothing more than our stored food and garden food? Maybe. The ones who survive are the ones that find creative “work arounds – the ones that can adapt and find advantage even in the worst of situations. And this is what happens in an economic collapse. As daunting as conditions may be – most adapt. The weak, the criminal, the cowered will not – and perhaps it is just as well, as heartless as this sounds. The fact that we’ve had it so good for so long – and have developed a parasitic entitlement mentality – is precisely why we’ve lead ourselves to the next imminent slaughter. My faith in America is stronger than ever. We have a core of survivors and a “can do” mentality that forges ahead no matter what. We all know the government and Fed are hopelessly corrupt – and I have no doubt in my mind this too, will change on the heels of a collapse. The whole bullcrap scheme perpetrated by the cabal of criminal central banking puppet masters is close to being unraveled – and I say that’s a good thing. Time to press the re-set button, and take our power back as American citizens. As W. Clement Stone used to say, “Got a problem? That’s good!” Well, I say, this “problem” of ours, in it’s resolution, will be the underlying cause for the taking back of our country from the criminals who stole it decades ago.

    One last note: The Economic Collapse Blog is not too pessimistic. It is realistic. It is all unfolding as one might expect. I have been preparing since 2008 – and while we can’t really imagine how bad it might get – we will survive, persevere, press on and re-build – even if we have to keep goats in our apartments! In the long run, we’ll all be better off for it.

    • Michael

      Thank you for sharing that stuff about Greece. I really value the firsthand info that readers of this site share. It helps put the mainstream news articles into perspective.


      • Hello All,

        First time posting but I have been reading since about March 2011.

        Michael – Superb blog, so glad that someone is bringing this information to the public and it is great that people can post their own comments and thoughts for others inspiration. In the past I have noted your posts do center around US / World economies with not much focus on the UK (I would like to see a few on the UK as I have a natural bias obviously living in the UK).

        Ralphieboy – fantastic post – good to get some real perspective as to how people are coping in Greece. It does concern me as I believe there is still too much bad debt in the US/European/UK economies which could have similar ramifications here.

        As for myself – a year ago I decided to quit my job as an Electronic Design Engineer to work for myself trading in the stock market to hopefully raise enough capital in a year or two (fingers crossed) to start a Mechanical Engineering design business.

        The most powerful tool any of us own is our mind and the ability to think through any situation.

        Kind Regards
        28 years young

        • Michael


          Thanks for the kind words. I will try to include the UK in more of my articles. 🙂


  • Got to say this is one of the few web sites I regularly view. Always very relevant. I’m in the Uk, where the BBC and SKY news are mentioning nothing about the military build up around Iran or much about the continuing Banking collapse in the Euro zone and UK. Most here think the UK will get out of the Euro zone completely as we hate being told what to do from the continent.It’s the Black Hole

    Kind Regards

    • Michael


      It is great to hear from someone from the UK! I am so honored to have people visiting this site from the four corners of the globe. I will have to keep that in mind and stop being so “America-centered” all the time. 🙂


      • Paul

        Well, it’s still amazing that Americans feel surprised that there are people living outside of America, and using Internet, too!

        Oh, which reminds me of the trade deficit.
        Go to and check those Americans out who will only sell to Aamericans.
        They are not so much different from the American government restricting exports – and then complaining that nobody is buying from them.

    • Paul

      Well, BBC and Sky are more keen on reporting on that Micahel Jackson Doctor trial. Can’t watch that crap.

      Try TR.Com of you want to see news, Al Jazeera is also not bad, but can’t see them in the morning.

      • Paul

        Sorry, should be RT.COM (Russian Television)

  • Douglas

    Okay don’t slam me for this. I have been following this blog for months and the author is always spot on what is going to happen economically. I have no home but $75,000 in my local bank. I live rent free as a caretaker on an Estate. What should I do with the money before the whole system colapses. (A)Should I quit my job and travel the globe burining through my savings.(B) Buy some land with cash and build a log cabin with no mortgage and weather the storm. (C) Stay at my job and leave my savings in the bank.

    • SmokyMtnLady

      Plan B!! Go for plan B!!!

    • chiller

      (D) Stay at your job and buy gold and silver with that $75k. I cashed out my 401k and did just that. As the fiat currencies around the world die, precious metals with rock and roll. I have tripled my 401k money since 2008. The nice thing about PM’s, no taxes. Most places you buy and sell report to no one so is all yours.

    • Zedge Hero

      B- and add some silver too. NOT C, even A if you wanna go out in a blaze of glory. But NOT C. You are in a lucky situation, take advantage of it.

    • Marco

      I would invest some of that money in precious metals – in your case specifically – gold bullion. Why? Currently you could easily carry about $40k USD worth in your jacket w/o any suspicion, and that gold will be worth something no matter what country you decide to go to. If you don’t have family and don’t have debt, you have much more flexible options compared to others. So I say (c), but 50% in precious metals, and the rest in cash. And try to pick a smaller bank/credit union. Don’t forget to help family though.

    • Proftel


      Come to Brazil!

      I live in Anapolis-GO, I know many who have retired Swiss farms (small farms) and live very well here.
      There are also many religious Americans in the city, you will not feel out of place.


    • I had to make a similar decision a couple years ago. I like to do things in threes so I put 1/3 into a secluded retreat on which I built a wood-heated solar powered home; 1/3 into Silver Eagles at $2 over spot of $16; and 1/3 into inventory including a couple year’s food storage, farming and canning implements, guns and ammo, etc. I am happy with my decision as I still live my normal life while knowing that I am only an hour away from being ready for anything and the market value of my preps have increased 60% if I liquidated today.

  • Eddy

    Hello to all. Nice posts^!
    Any thoughts about why it is that a consumer-class is being cultivated in the Emerging Markets of Asia/Africa while here, in the US, etc., the middle class is being deconstructed?
    Kind regards.

    • Marco

      IMO, this is the logical result of globalization. Income distribution on a global scale. From the USA perspective, this is no surprise if we don’t make anything domestically anymore and ship all those manufacturing jobs overseas. Personally I have no idea how any country could survive w/o manufacturing and US exports. The only thing the USA exports is debt these days…

  • Look out below oooooo.
    False alarm go back to sleep or watch some more CNN news. “News that matters”.
    “Oh by the way have some more cool-aid”.
    It’s your favorite flavor.
    Cherry CRUSH

  • Take a look at how to survive an economic collapse at:

    • Douglas

      Great blog! How much are we talking about for a basic solar setup to run a light and radio? Are there any good web sources. I need to get going on this. I have never felt something more emminent in my life. Thanks for the help.

  • newton

    Why would ANYBODY have 75 grand CASH in a bank ?

    You see; this is where I really start to question human intelligence.

    Here we are; 2012 & unless your blind or really really stupid – you can see we have a ton of really nasty stuff coming down the pike — all at the same time.

    So what happens when you show up for your money

    And there’s a sign in the door


    They are paying you 0.25%

    For that !

  • Rancher

    You want to know what to do. Just look at hat you use daily, weekly and monthly. Buy and store that up as the prices will only go up. Think about it past a brief yeah OK already. Or die.

  • Jack

    I know somebody who predicts a EUR of $1.60 in a few years time.

  • an independent citizen


    I have been reading this excellent blog for a long time and this is my first comment, rather a question.

    I’m just an average middle class joe, I understand how our debt is a cancer eating away at us. But lately I’ve been reading things like the Euro v dollar is 1.27 and below, can someone explain in simple terms why its dropping? and why its bad?

    I tried looking on ZeroHedge, but its above my head.

    Thank you in advance for any explanations.

    • Michael

      I think that there are several reasons, but in a nutshell the financial system of Europe is imploding and Europe is heading for a major recession. Confidence in the euro and in the European financial system is at an all-time low.


  • Wife and I are going to Europe in March/early April for a couple weeks. Their pain is our gain! Figure we need to see some sights before they all fall into civil war and the muslims start burning everything down and the chicoms repo whatevers left.

  • bongstar

    My advise to any one who is intrested in the true mechanics of the worlds monitary system, is to read the Creature from Jekell island by Ed Griffin. It breaks down the entire rules of play for the federal reserve and all the worlds banking systems. It truly unshrouds the mysteries, it has been a major tool for being able to read between the lines that the talking heads tell you. Please read this book, we owe it to ourelfs, our children and our nations. and pleas people dont forget it isnt about liberal or consrvative dem or rep those are only tools to pit us aginst each other. we are all the victims of this ravaging beast. govrments are but a mere pawn to monitary masters. And also to any one who doubts collapse remember that all fiat based currancys ever in history have ended in hyper inflation and economic chaos. this is a fact not an opinion. the only fiat currencys that havnt failed yet are the onse that are in the middle of faling. history reapeats its self. good luck to all and god bless.

  • tappedops

    (B)… dont forget goats— scratch that, go with sheep, on second thought just go with canned food… u-know- NDAA and all…

  • Forrestcat many fansboysin europe…just to drop a line that i am a Malaysian who is starting to get very nervous with the state of our world economy,Malaysia finacial system is sound,economy not fantastuc as china but doing fin thanks to our saviny mentality and fear of credit cards as a sin,personal debt is relatively low. and i visit several ecoonomic blogs to get updated on the current financial and economic situations….i regularly read culture of life news from which i got a link to this site..very insightful eventhough pessimistic but it is the reality of the situation in the US and europe and i am very amused about the prepping movement!!

    We dont do preppung but many malaysians are reverting to agriculture as a source of income by herding goat, running paddy farms and rubber plantatiosn. I am also subconsciously prepping, i am saving as much of my salary in trust funds and planning a joint venture with a good friend in an agriculture business possibly next year after we accunukated enough savings.

    • Mic

      Some people don’t seem to get it. If Europe crashes the World economy will follow. Malaysians and many others, who think they will be OK, will see how much of their economy is based on Tourism, Exports and Foreign Bank Loans.
      We will be talking a World Wide crisis.
      The Great Depression, affected the Whole World and set the stage for WW2.
      History repeats itself, get the picture?

  • Eric V. Encina

    Douglas, you can acquire properties here in the Philippines at $10,000 in Peso value. Philippines is for sale. We’re also swept away by financial crisis here but Filipinos are totally resigned, that is, dead or alive!

    Eric V. Encina

    • Proftel

      Eric V. Encina:

      Philippines does not, earthquakes, typhoons and active volcanoes (on top, near Fukushima).


    • Joel

      Maybe the Philippines are for sale, but only to other Filipino, unless you buy above ground floor.

      Foreigner have no right to buy land in the Philippines. They can only buy what is above the ground floor and above (like condominium).

      Anyway, if those foreigner who have money (most Westerner) have to think twice what they do with it because of the Economy, I don’t think the Philippines will be the first place they will look for… even if it is a beautifull country.

      I still think that Filipinos will be out with less trouble than Westerner when the collapse occur.

      Really a beautifull country though, and nice and welcoming people. 🙂

  • Eric V. Encina

    Everything is collapsing and by design, all nations are targeted for collapse. No choice. Let is happen what is foretold to happen.

    Can we be in invincible or just like dead or alive

    Eric V. Encina

  • Scott

    Awesome, I enjoyed everyone’s comments more than the article. I don’t really have money and I live in Bangkok teaching kindergarten, but I am really passionate about this whole global NWO collapse and all. I keep stacking silver as I manage to save some scraps from month to month. Keep on stacking!

  • Scott

    BTW, I have know an ingot dealer here in Bangkok selling at spot price, not too mention gold bars in China town at spot prices. Come to Thailand if you can.

  • sgtseeg

    The Federal reserve is proping up Europe’s banks right now by printing more dollars, investors are leaving the “Euro” to invest in the “safer” dollar. That will not last. Our so called investment banks are heavily invested in the European banks, most of the big players in Europe’s governments and banks are associates or friends of our big players. We are being held liable for the bill. May God help us all in the coming couple years.

  • chiller

    @Reed Richards, I know who you are…. you’re Sarkozy aren’t you. Of all the Eeewwwuuu nations, France is the most in debt to it’s fellow nations. I expect to see some bloody riots this year in France aimed at a government floundering and drowning. Nice try “Reed Richards”….France is going down hard.

    • DB200

      I was just planning my holiday to France this summer. Now you have spoiled my day.

      BTW two very big Dutch pension funds have sold all their French holdings in the last week of December and went into Canadian and Australian dollars, this was reported by the newspapers.

  • KatieAnn

    Michael, don’t you think they’re going to prop up the U.S. economy even more so this year to get Obama reelected? Already you’re hearing how great the jobs numbers are and how this is going to help Obama. So if things are going to get bad in 2012 it probably won’t happen until after November no matter who is in office?

    • Michael

      That is a very interesting question.

      The elite played a huge role in putting Obama into the White House, but there have been whispers over the past couple of years that they are not really pleased with him.

      So do they want Obama again in 2012 or do they want Romney?

      I think that is an open question.


      • justamom

        I, too, have a question. What about this legislation in the works to pay off mortgages? Is it possible that this could pass? Would this be the biggest bail out in the history of the world? If it were to go through, it seems that President Obama will take credit for it and may become unstoppable in November. I just heard about it on the news yesterday—stopped me in my tracks. Please comment.

        • Michael


          I don’t think anything is really going to come of that.

          But I could be wrong. 🙂



      • Nickelthrower

        Seriously? How could the elites not be please with their puppet tool? The Bush administration should have immediately been handed over to an international tribunal and charged with Crimes Against Humanity but that didn’t happen. Corrupt Wall St. executives, Banksters and everyone at the SEC should have immediately received life in prison without the possibility of parole but, somehow, the biggest crime in history has gone unpunished.

        Gee, how did all this happen? I’ll tell you, the elites bought and paid for Obama and they have got exactly what they paid for.



        Why would the power elite that put Obama in charge not be please with him? Their agenda is being carried out right on schedule.

        1. War, War, and War forever – Check

        2. Wall Street Banker bailouts – Check

        3. Big Brother police state – Check

        4. Food Stamps for peasantry – Check

        5. Job Killing trade agreements – Check

        The warfare and the welfare state under Obama is being preserved and the screws tightened. What on earth could the murderous power elite possibly be mad about?

  • JOBlack

    Mexico, Africa, Asia and other third world countries have survived this way for decades, why can’t white people suffer too. Don’t feel sorry for those Euro/trash bastards, hey welcome to the third world…

    • Stuey

      This is just a little racist, no?

      So because others have suffered you believe Whites/Europeans should suffer too?

      Have you ever considered that the others suffering could have been brought on by their actions or lack there of?

      And the same goes for Europeans and Americans, if they end up suffering it will be due to their actions or lack there of.

      But don’t wish for any people to suffer just because others are suffering.

  • William

    Not to worry, ole Ben of the unconstitutional Federal Reserve will backstop Europe with more
    instant funny money……..and, it will work for a while. But, when the music stops, Americans will find their standard of living dropping badly from stunning inflation. Do some research on the currency collapses in Germany in the early 1920s, Argentina about 11-12 years ago, or, more recently in Zimbabwe. Yahooooo….look out below.

    • knightowl77

      William, accurate and you did it w/o mentioning the former prez…

  • Proftel

    I spent Saturday afternoon (07/janeiro/2012) to read several posts here.
    Do not trust the mainstream media and I think you and your readers do not, the reality is in the blogs.
    Are you proud to be an American and I am proud to be Brazilian, you’re worried about what may occur in the global economy and I, too, but you do not provide solutions, we have them here in Latin America, look read about Brazil and Argentina surpassed the crisis of the 80s, as the banking system is structured, as is social security and health system – which is not good, but does the job.
    Do as I do, look for information in blogs in the country of interest, you will be surprised (especially with what you read in the comment box).
    The link on my blog:

    You have done well!

    I am writing in Portuguese and the translation is Google translator, I’m sorry if I am not versed in English unless technical service manuals.



  • Proftel


    A suggestion to you is something for blogger to blogger, the following is the journalist Pedro Doria when he was a blog called “Weblog” (now under contract this blog no longer exists, unfortunately).

    “Open thread is a tradition of internet forums.

    There was a time, long before the late Gopher, in which only those who sailed on the network know certain Unix commands. In these days without blogs or web, people gathered on the Usenet, several conferences discussion of specific topics.

    And, on Usenet, there were open threads. This is an open thread. I mean something very simple: the discussion is free, any subject is worth. If the experiment goes well, there will be one here, always. ”

    I adopted the suggestion, always on Friday night open an “Open” to the commentators talk without the link text.

    Sometimes I create an “Open” in honor of some commentator.


    • Michael

      I think that is a good suggestion. I will think about it.


  • JC

    Michael, dude… You are the man! Keep fighting the fight, living out your call and delivering the truth to a blind, broken and deceived culture. Follow the Holy Spirits guidance and stand firm for Christ bro! Treasures in heaven where nothing/no one/nada can hinder your reward!

    • Michael


      Thank you for those very kind words. I do pray about what I write, and I hope that these articles are making a difference out there. I believe that they are.

      And I hope that you will keep coming back and leaving great comments. It is good to have other believers leave their opinions on these things.


  • Cinderella Man


    Im definitely not afraid of the coming collapse, and I think your right on about the spiritual bankruptcy of Americans, however I dont think that Americans will be so willing to accept a lower standard of living like the Indian people. Can you imagine telling a suburban house wife that she has to bathe and wash clothes in a filthy shit filled river? Nope I dont think she would be feeling like embracing much of anything! LOL

  • filthy pig

    hav’nt been to europe since 2003 can’t wait to go back next year. this is fantastic news i will be as a god eating and rutting across the face of europe! please have wine and girls/boys ready!

  • Proftel


    Grateful to release my humble three comments, you seem nice people.

    In my blog appear Brazilian commentators around the world. England, France, China, Australia, Mexico, Russia and so on.

    All are welcome and never, NEVER delete or block any comment, noa my view the Network is free.

    Big hug.




    • Lennie Pike


      Quero te ajudar um pouco – “um abraco grande” – “big hug” – para um Americano e igual um homen Brasileiro oferecendo um “beijo nas labias” para outro Brasileiro. E se esta’ oferecendo o abraco grande para uma Americana, voce’ vai ter uma briga com o homen dela, ou com ela mesma se e’ solteira.

      O resto dar para intender mais ou menos com seu negocio de traducao de google.

      Espero que te ajudei,

      Um Americano.

      • Proftel

        Lennie Pike:

        Thank you!

        Politically correct is not in Google Translate.

        I also did not identify who writes through this resource, but to capture ideas very well.

        Brazilian people do not have much of a “politically correct” you understand, the rule here is not “Big Brother” peaceful and friendly people.

        Hugs and kisses normal part of Latin colonization, related families.

        Nothing of promiscuity, only sincere affection and friendship.

        Sincerity is the tone (if the guy says what he thinks).

        Grateful, thankful even for the alert.

        I hope that falling within (understand) my comments.



  • Mad-Max

    Not matter what they say or what they do, Nothings going to fix this mess. Playing around with the money system and taxes has nothing to do with our real problems. We’ve foolishly wasted a lot of valuable time and resources. We have one last option left. “The Nuclear option”

    Read “Common Sense 3.1” at ( )

    • Proftel


      Nuclear Option ever!

      I have an exit option for you, let the banks fail.

      Let Europe broke, do not need them, they need us because they do not produce enough food needs.

      We can open our new factory, to produce internally what the market needs and create jobs, this was done in America in the period between Independence and World War I, it worked, we have developed our own technology, as we entered the War of the world was slack jaw.

      Our market does the job, believe me.


      • Fillow

        Europe needs America , and America needs Europe .
        If today our system fails in Europe , than tomorrow your system will fail in America , it’s as simple as that . But like so many of your leaders , you also think that America STILL is a worldleader. Wake up from your television Mad-Max !!!

  • tappedops

    Heres my horse…
    Huge false flag in second quarter triggers WW3,Kenya boy gets re-upped just weeks before the dollar crashes… then …troops on the streets—lights out kids

  • The time is almost here
  • mondobeyondo

    Meanwhile, as we all sail along on the Good Ship Lollipoop….

    (yes, that’s misspelled intentionally)

    • mondobeyondo

      A little nod to Shirley Temple, in case you’re wondering.

      • r.bitting

        You just dated yourself by claiming to know who Shirley Temple is.

  • wilson

    See who is really funding Romney (and all of the other candidates) at:

    8 of the top 10, and 13 of the top 20 Romney supporters are the banksters.

    • DB200

      So now you probably can guess who will win?

  • Proftel

    Kick In History:

    “No one knows for sure what will prevail in 2012: to slow U.S. recovery, reflected by a fall of 9.6% to 8.5% unemployment in 2011, and diving endless economic system is right europeu.O that the search for solid ground in international trade will have a space of struggle increasingly ruthless. The Brazil that survived well in the first stage of the crisis must be prepared to not die on the beach. The Brazilian industry accumulated a trade deficit of around U.S. $ 80 billion over the past two years. Hailed by the orthodoxy as encouraging competitiveness, unbridled importation of manufactured goods helps to control inflation. But it has a high cost less visible: the national production loses momentum and space in its own market and it carries a burden of concern in employment and income. In November 2011 – latest data – the performance of the manufacturing sector was 2.5% below the same month in 2010. Industrial chains are being eroded by foreign competition, especially the Chinese. The exchange is the main villain. The flood of dollars attracted by high interest cheapens imports to the point of stifling local manufacturing. There are also technological gap. But it does not explain, for example, the choking of the textile sector, which has technical standard equivalent to the international bridge. Or, as recalled by Luiz Gonzaga Belluzzo Palmeiras, does not justify a Chinese football club is offered to Brazil for R $ 1.39 against the local average cost of $ 35. Brazil may have missed the tone on the pitch but can you make balls. Orthodoxy and their media device criticize transient protective tariffs and incentives to promote industrial. It is believed that the righteous society will spring flood of imports and sanitizing free flow of capital. Brazil was so pre-Vargas would be a paradise. Willful ignorance abstracts the path of their own references. He claims the Chinese standard of competitiveness, but without the framework of Chinese industrial protection and exchange, with interest set by the central committee of the PC. I would, perhaps, then pinch the inhuman conditions of work. Promotion of technology, protectionism, subsidies, exchange and interest rates administered were used in England for 300 years to build its power in the nineteenth century, weapons of economic warfare are largely driven by the U.S., Japan, China and South Korea, whose governments protested the WTO when the emerging shoot the same arsenal. Or, to remember the economist Ha-Joon Chang, ‘kick the ladder’ going up. It’s part. The worst are internal allies do not hesitate to kick the story to defend a laissez-faire never had the leading role assigned to it in the wealth of nations.”



  • Proftel

    An interesting link, check out:


  • Rancher

    No one in leadership will do anything to turn us around. It is against their very nature to fix the problems. Why? Because fixing the problems will require them to give up their control and power.

    They are in a powerful isolated position in DC and the longer they stay there the more they get mired in it. Term limits for all is my only hope.

    I do not believe they will vote away their long terms so there is no hope…

    Therefore we continue to prep for the tough years ahead. We prep with others and do our best to withstand the dark days ahead.

    Talk is cheap…how many years of food and supplies have you invested in? I bet a whole bunch less than the amount of time you spend reading and blogging about the current events and the future? Well if so you will at least know why it all fell apart around you as you starve and go under. Think about that instead of the euro ;-(

  • HIOB

    It is really cool to point at the European Financial System as a huge contender for failure.

    However, where is a BLOG here about the NDAA signed into law by Barak “YES WE CAN” Obama?

    Just for those, who are unaware:!

    Good luck, land of the “not so” free. What does a dollar matter if you sit in a concentration camp?
    Yeah really, wake up you nit wits.

    • DB200

      Was his motto “change” or “chains”?

  • DB200


    I have tried to contribute a certain text several times, on several occasions, but it is not showing up, instead of all the others I made. Could it that your website is filtered on contributions that contain certain key words or am I getting paranoia?

    • Michael


      All comments go through moderation before being posted, but nothing should be filtered out before I see it.

      What were you trying to send?


      • DB200

        Information (public domain) about 3 recently appointed (unelected) higly placed politicians and their connection to Goldman Sachs.

        I just retried to copy-paste the text two times, and after pushing the “submit comment” button it didn’t show up after refreshing the webpage. All in all, I have tried to upload the info a dozen of times. All other contributions uploaded without any problem. Only this one failed consistently.

        • DB200


          have sent you an e-mail with the text separately. Am curious if you received it.

          • DB200


            Thanks for the reply, you received it.

            It gives me the idea that contributions are being watched and filtered. But don’t let that deter you, keep up the good work. More and more people are reading your blogs.

            For me, Europe and the USA are two sides of the same coin, like the Republicans and Democrats. There are far more ties between them than meets the eye.

            Take care.

  • Felix Unger

    Eventually the dollar will become worthless due to hyperinflation and we’ll have to issue a new currency . Maybe silver and gold coins or paper money backed by silver and gold, silverbacks or goldbacks instead of greenbacks. That is, if we have any gold left. Chinese officials recently demanded and got a personal inspection tour of our gold at Fort Knox. They may ask us for that or they won’t keep buying our treasuries .

    • uncurable wound

      Do you have any proof or a link to the chinese fort knox claim?I was unable to find anything on it.But if true it would be VERY disturbing!

      • Denise

        Yes. A Chinese inspection would be very disturbing, since the wholesale looting of America would be uncovered – and the creatures that have done the looting would be discovered, as well.

  • Lennie Pike

    Force me into a concentration camp?

    It would be like trying to get a very well armed Cheswick into the shock therapy room in the movie One Flew Over The Cuckoo’s nest.

    • Lennie Pike

      Found on YouTube @ Mr Cheswick No

    • Proftel

      Lennie Pike:

      You a smart and decent guy, not concentration camps us.

      Big difference there is between the U.S. and Brazil elections.

      Here people choose political (with compulsory voting Electoral Court itself).

      Here voting machines, there “coocuns” or something similar, non-binding vote, mandatory citizenship here (can vote blank, void, but HAS to vote), no tears to cry then.

      Two separate systems, a “third world” COMPUTER and other “first world” in the role of power alliances (where to send rich media in favor).

      Very strange you in the election ….

      Sorry, sincerity.


  • Forrestcat

    @mark wandret

    Hey dun point finger at the muslims…did muslims burn half od europe on ww2..muslim natioans are literally debt free and have large sovereign wealth wealth…libya was a sovereign wealth nation and until now we know the bilderberg infidels stole that wealth in the UK banks..we muslims best topple our dictators and saudi prince than pilfer worthless christian cathedrals in europe which will freeze to death without muslim oil…

    To all of you…just head south where the south americans and muslims aremwith ur gold….its warm down here with plenty of trade surplus!!

  • boeing engineer

    Best news possible. The Euro has been highly over-valued for years. I recall when $1 bought over €1.20, as it should. And since I travel to Europe frequently, it’s easy to realize that there’s a gross mismatch between the official exchange rate and real purchasing power.

  • Denise

    It’s NOT “Government debt”!!!!! It’s ROTHSCHILD’S FIAT DEBT!!!! Get rid of THEM – and their ilk – and you’ll ger rid of most of the problems the world is facing.

  • Paul

Finca Bayano

Panama Relocation Tours



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