Loading ...Andy Hoffman
Before I return to today’s principal topic, let’s just say there’s a reason this weekend’s Audioblog was titled “upcoming week of infamy?” Whether Greece manages to pay the IMF the money it owes this Friday – which they have all but screamed they don’t have – is inconsequential. What matters more is the four-month bailout extension granted February 20th is just three weeks from expiring. And anyone following this weekend’s news – featuring an expanding Greek bank run – realizes that not only is a new bailout deal unlikely, but not even possible. To that end, I don’t think I’ve seen more hatred and rhetoric spewed over to date; and at this point, everyone from the IMF, to the ECB, the German Finance Minister, the Greek President, and even Wall Street are speaking of the inevitability of the “Grexit” I didn’t just guaranteed two months ago, but two years ago – when we I wrote the following.
“I have ZERO doubt that – one way or the other – Greece will eventually exit the EuroZone; potentially, providing the ‘flash point’ catalyzing the END of the Western banking system; and with it, FINANCIAL ARMAGEDDON.”
more http://blog.milesfranklin.com/the-truth-shall-set-you-financially-free