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IPFS News Link • Economy - International

17 Signs That The European Financial System Is Heading For An Implosion Of Historic Proportions

• The Economic Collapse
What happens when you attempt a cold shutdown of one of the biggest debt spirals that the world has ever seen?  Well, we are about to find out.  The politicians in Europe have decided that they are going to "take their medicine" and put strict limits on budget deficits.  They have also decided that the European Central Bank is not going to engage in reckless money printing to "paper over" the debts of troubled nations.  This may all sound wonderful to many of you, but the reality is that there is always a tremendous amount of pain whenever a massive debt spiral is interrupted.  Just look at what happened to Greece.  Greece was forced to raise taxes and implement brutal austerity measures.  That caused the economy to slow down and tax revenues to decline and so government debt figures did not improve as much as anticipated.  So Greece was forced to implement even more brutal austerity measures.  Well, that caused the economy to slow down even more and tax revenues declined again.  In Greece this cycle has been repeated several times and now Greece is experiencing a full-blown economic depression.  100,000 businesses have closed and a third of the population is living in poverty.  But now Germany and France intend to impose the "Greek solution" on the rest of Europe.  This is going to create the conditions needed for a "perfect storm" to develop and it means that the European financial system is heading for an implosion of historic proportions.

1 Comments in Response to

Comment by James Eldridge (29618)
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All of this has been ‘made’ to be so confusing that no one can come up with an answer to solving the debt problems of the world. Gadaffi had one for the African nations, and look what happened to him. Every nation printing their own debt free money as it was before the world had a central bank/federal reserve should be the answer used to solve this banksters debt problem. Let any country attempt to try that and watch NATO come right in and disrupt the country saying their leader is killing people so that they can bomb the crap out of everyone and take the nation over, set up a central bank and rob the people of that nation into poverty. Look at Lybia and find the real truth about what happened there and you will see the same people are leading the world into the same kind of conflict.

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