Charles Biderman: EU Debt Crisis Going to Get Worse
By Greg Hunter’s USAWatchdog.com
The most underreported story this week is the European debt crisis. Greece, Portugal and Ireland have all been in the spotlight with money troubles. Now, Spain is taking center stage, and its debt is more than double the previous three countries.
There has been one bailout after another. Nothing is working as many EU countries plunge into recession. Charles Biderman, CEO of Trim Tabs Investment Research, says the situation is bad and it’s going to get a lot “worse.” Mr. Biderman says the Europeans won’t be the only ones that will feel financial pain. He thinks it’s only a matter of time before the EU “implodes,” and that crater will be big enough to pull down some very large U.S. banks.
Greg Hunter talks to Charles Biderman about the problems with the EU, U.S and a new reserve currency coming out of Asia in the not-so-distant future.
Greg, why did Jim Sinclair say gold would not go above $2111.00? He stated in this piece. http://www.futuresmag.com/2012/05/01jim-sinclair-has-something-to-say. Please read the whole thing & give me & others your views. This has me so worried & confused on what to think. Any imput would be of great help.
He also said it would take a truck load of silver to buy a truck, am I missing somethiing here?
Thanks for all & any help you may provide!
Try this link. It is a good read. http://www.futuresmag.com/2012/05/01/jim-sinclair-has-something-to-say Try to cut and paste instead of clicking on the link.
Greg, I miss typed the link. http://www.futuresmag.com/2012/05/01/jim-sinclair-has-something-to-say. I have read this piece many times & I still can’t see why he believes that gold will not be allowed to go above $2111.00, I hope you can make some sense out of it. Thanks again!
Your interview got picked up by Zerohedge 🙂
Charles Biderman is one of the few honest financial experts around. I’m thankful he speaks the truth about the world’s finances. Great interview.
All the while Wall Street supplied by the FED’s inflationary policies continue to march onward as if there is no end to the prosperity, sounds like history maybe repeating itself (1929-1936). Slippery slope to third world economic status with big weapons that are cocked and loaded, dangerous, dangerous, simply a dangerous situation. Do you ever wonder how the last great depression was ended; war. Have you ever wondered how the Roman empire ended after its economy was devalued by its politicians; war. Something to think about, war gives the politicians who stole the pie a scapegoat and a get out of the gallows free card.
I was wondering if anyone got to watch this Frontline documentary on Money, Markets and Wall Street. It really was quite astounding and had me thinking about what’s actually going to happen. Why? because the people featured in the documentary really believe they are right.
What was most worrying was Geithner claiming that his stress tests on the banks was the right thing to do and the banks are now healthy and Obama believing him.
They are two diametrical opposing views I’m reading about on the economy and there’s no middle ground: One group (the Austrians) are going to be right while the other group (the Keynesians) are going to be wrong, but we won’t find out until the whole thing implodes.
It reminds me of what I said about the war in Iraq. One group was going to be right (about WMD’s being there) and the other was going to be dead wrong, but we weren’t going to find out until it was too late (i.e. until blood had been spilled and a disaster had been created) — My gut tells me that this is what is going to happen to the economy. Geithner and Obama are leading us into an “Iraq” and the disaster of that decision will be known in two years. Then and only then, will the American public come to it’s sense, like it did about Iraq.
Here is the link to the frontline documentary:
This is the scheme of the usurers.
They lend you $X and demand back $X+y.
You can only pay it back if someone else borrows $X+y.
You do not need to be a brain surgeon to know where this is going to.
The western world economies have degenerated into a gaggle of cripples who are holding each other up while blind drunk on a spending binge. When one of them trips it will be enough to bring them all down in a heap.