Tuesday, 29 November 2011
Euro burns: Europe falls apart!
As usual we are heading towards White Christmas. Or should I say Red Christmas? On Wednesday, tomorrow, Britain will be shaken by labour strikes. If the prophecy comes true, this year's Salvation time will not happen for thousands upon thousands of small and medium size businesses. The big businesses represented by Philip Green already said that things look pretty gloomy. There are those who are asking not for 275 billion Pound. They are asking for 400 billion Pound of Quantitative Easing. What does this mean in terms of avoiding a catastrophe? Absolutely nothing.
Monies are transferred between items in the National Budget but in essence there is no real new money. Will they discover oil and gas under the River Thames as they found oil and gas in the North Sea when Britain was going to Hell in the 1970s?
Under a Labour government, they tried to release the pressure by devaluating the currency. I am afraid that currency devaluation at this stage would mean exponentially rising inflation, would lead to the total collapse of millions of households across the country and would be the final nail for a weakened financial system that has been almost completely taken over by the State.
The situation is extremely serious. If the credit system collapses, we could have the Army guarding food shops.