Friday, July 15, 2011

The Euro and the Banks

Guardian: Reports that the money markets are on edge due to the stress test of banks, the article states the following, “.. fears that today's annual health check ..will find fatal weaknesses in at least half a dozen institutions, ”. Folks if you have money start to buy gold or other assets, banks are broke, if PIG countries go and the US goes in to default then we are all in the toilet, a lot of banks will go under if the above happens, the Sovereign debt crisis can only end when the PIG countries default, the US deals with its debt mountain, thus far failure by politicians in Europe and the US. Advice folks, buy gold, and lot of it, or diamonds, they never lose value, its going to be harsh folks.

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