Thursday, May 6, 2010

I called it!

For months I have been talking about a coming collapse in the euro. In my March special report, Euro Crash Alert! I spelled out the reasons why the euro would collapse and how you could make huge profits on that eventuality.

This is a much bigger call than Schiff's housing market forecast or Meredith Whitney's Citi short and neither one of them has even mentioned the problems in the Eurozone. Schiff continues to stupidly call for a decline in the dollar and a selloff in U.S. Treasuries. He's totally clueless...just babbles.


bubbleRefuge said...

Yes, the US is not going to have a government debt crisis similar to Europe's but many anal-ists are calling for exactly that because they do not understand fundamentals of government finance. How can professionals who manage millions, perhaps even billions, of dollars not understand government finance? I get Martin Weiss's marketing newsletter( ie spam) and he rants about how the US is going to default etc etc. Unfortunately, he has a huge following.

mike norman said...

Wait till you read my next post. It will scare the daylights out of you!

googleheim said...

The ECB stimulated $500 billion in late 2008

What if they do it again ?

Will my Euro shorts start looking a little hawaiian 5-o ?

Anonymous said...
This comment has been removed by a blog administrator.
Emroy said...

I remember your talking about the Euro on the radio program. Even got me interested in EUO and DRR.

Before the launch of the euro in 1999, Milton Friedman predicted that the Eurozone would not survive its first economic crisis.

He noted that in a world of floating exchange rates, if one country faces a shock, it could simply respond by letting the exchange rate change. But with the arrival of the euro, that option is no longer available.

mike norman said...


The ECB holds the solution to this whole thing in its own hands, however, it would have to agree to lend on an uncollateralized basis and it already said it is not going to do that. In fact, it said yesterday that Greece must cut its debt. No sign that the ECB will issue euros as needed to resolve the situation.

mike norman said...


Yes, without currency issuing power these countries are strapped and cutting spending will only lead to a further spiral down all the way to true bankruptcy. The whole thing could end up cascading all the way to Germany.

googleheim said...

The USA provides the uncollateralized swap lines so that the ECB can in turn provide "collateralized" Euros which are based on cutting debt.

We are the world ?