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Page added on October 7, 2016
The Coming Collapse Of The World’s Biggest Economy
The stage is set for the collapse of the world’s largest economy – the European Union. The trigger: Italy’s exit from the euro currency.
The Financial Times recently put it this way:
An Italian exit from the single currency would trigger the total collapse of the eurozone within a very short period. It would probably lead to the most violent economic shock in history, dwarfing the Lehman Brothers bankruptcy in 2008 and the 1929 Wall Street crash.
If the FT is even partially right, it means we’re looking at a possible stock market crash of historic proportions. It could devastate anyone with a brokerage account. But it could also present enormous opportunities to profit.
Here’s how it could happen…
What started out as a joke has become Italy’s most popular political party.
In 2007, Beppe Grillo, an Italian actor and comedian, launched Vaffanculo Day (“vaffanculo” is Italian for “f*** off”).
Grillo and his followers used V-Day to bluntly express their displeasure over Italian establishment politicians using imagery from the movie V for Vendetta.
V-Day helped organize Italians frustrated by their political system. It gave birth to the Five Star Movement, Italy’s new populist political party.
Grillo’s Five Star Movement—or M5S, as it’s known by its Italian acronym—is anti-globalist, anti-euro, and anti-establishment. It doesn’t neatly fall into the left/right political paradigm.
According to the latest polls, M5S is now the most popular party in Italy. It won mayoral elections in Rome and Turin earlier this year.
M5S is riding a wave of populist anger at entrenched political elites over economic stagnation. Italy has had virtually no productive growth since it joined the eurozone in 1999.
M5S blames Italy’s chronic lack of growth on the euro. A large plurality of Italians agrees.
M5S has promised to hold a vote to leave the euro and return to Italy’s old currency, the lira, as soon as they’re in power. Under these circumstances, it would probably pass.
Meanwhile, the current pro-EU Italian government of Matteo Renzi is holding a referendum on changing the Italian constitution later this year.
This referendum is on limiting the powers of the Italian senate, which is seen as a source of political gridlock. Opponents say it could open the door to another strongman like Benito Mussolini.
More importantly, it’s effectively a vote of confidence in the current pro-EU government. Voting against it is a way for the average Italian to give the finger to the EU bureaucrats in Brussels.
Renzi has promised to resign if it fails.
If the referendum fails, M5S—the anti-euro populist party—will almost certainly come to power… and a pathway to the dissolution of the euro will be opened.
That’s why Italy’s upcoming constitutional referendum is so significant.
32 Comments on "The Coming Collapse Of The World’s Biggest Economy"
Cloggie on Fri, 7th Oct 2016 3:59 pm
Wishful thinking from the notorious Europe haters, Britain (Financial Times).
First of all: there is no guarantee that the referendum is going to happen.
Second: if it does there is no guarantee that the exit vote will win.
Third: most important: why would the EU economy crash if Italy would leave the euro.
Poor resentful British: its establishment organized a referendum it didn’t want to lose, but did anyway. And now they think that everybody will make the same mistake. Italians have always been enthusiastic supporters of the European project, very much unlike the British, who existed on a very this margin of 48-52. Admittedly, general enthousiasm for the EU waned, mostly because of immigrant flooding, but it isn’t dead.
Go Speed Racer on Fri, 7th Oct 2016 5:02 pm
If Italy goes bankrupt, there won’t be any more pizza. No more spaghetti. Catastrophic.
yoananda on Fri, 7th Oct 2016 5:06 pm
One way or another, EU/euro will collapse.
Is fact, EU is already collapsing. I know, I leave there.
Mark my words : in France we are on the verge of civil war.
I don’t know what the foreign press says about us …
So Italy, France, Deutsche Bank, or anything else ? It does not matter any more.
onlooker on Fri, 7th Oct 2016 5:16 pm
This certainly could be the straw that breaks the camels back
penury on Fri, 7th Oct 2016 5:22 pm
Renzi will not resign. He is too important to Brussels to be allowed to go. If Italy were to vote to change from the Euro back to the Lira, the fear in Brussels is that other southern nations would follow suit and the Euro would fail more rapidly than it currently is. The banks are too inter connected to survive if Italy goes. Cloggie it would be best if you would comment on something you have some knowledge of.
GregT on Fri, 7th Oct 2016 6:42 pm
“Italians have always been enthusiastic supporters of the European project, very much unlike the British, who existed on a very this margin of 48-52.”
The European project was one of the steps towards a NWO cloggie.
I'mNotGhung on Fri, 7th Oct 2016 6:54 pm
GregT said; “The European project was one of the steps towards a NWO cloggie.”
Don’t confuse the Clog, Greg. He’ll be posting for hours when he comes back.
Davy on Fri, 7th Oct 2016 7:15 pm
Italian issues are just some of the problems Europe is beset with. What many fail to realize is the interconnected nature of Europe with the rest of the global economy. It can’t fail because it is too big to fail. The global establishment will not allow Europe to go down until they lose control. Is that loss of control Italy? I doubt it. This will likely not amount to much. Europe is coming apart no different than the US and China. This will be a slow process until something snaps. What causes that snap is anyone’s guess.
makati1 on Fri, 7th Oct 2016 8:00 pm
It’s interesting, watching the West implode. And it IS imploding. Faster and faster every day. Riots, bank runs, lawsuits, exposed corruption, clowns and psychopaths running for office, incomes declining, bankrupties and ‘bubbles’ everywhere. LMAO.
makati1 on Fri, 7th Oct 2016 8:16 pm
In other related news:
“Where in American politics do Washington’s European, British, Canadian, Australian, and Japanese vassals see leadership worthy of their sacrifice of sovereignty and independent foreign policy? Where do they even see a modicum of intelligence?
Why does the world look to the most stupid, vile, arrogant, corrupt and murderous government on the planet for leadership?”
http://www.zerohedge.com/news/2016-10-07/russia-considers-restoring-strategic-outposts-cuba-vietnam-us-rhetoric-rises
Shades of the Cuban Missile Crises.
I'mNotGhung on Fri, 7th Oct 2016 8:19 pm
“….clowns and psychopaths running for office….”
You can add sexual predator. Straight from the Donald’s mouth:
https://youtu.be/8wM248Wo54U
““I moved on her and I failed. I’ll admit it. I did try and fuck her. She was married. And I moved on her very heavily. In fact, I took her out furniture shopping. She wanted to get some furniture. I said, ‘I’ll show you where they have some nice furniture.’ I moved on her like a bitch, but I couldn’t get there. And she was married. Then all of a sudden I see her, she’s now got the big phony tits and everything. She’s totally changed her look….”
…. “I’ve gotta use some tic tacs, just in case I start kissing her. You know, I’m automatically attracted to beautiful – I just start kissing them. It’s like a magnet. Just kiss. I don’t even wait. And when you’re a star they let you do it. You can do anything. Grab them by the pussy. You can do anything.” – Donald J. Trump, 2005
Yeah, Mak, Pretty fuckin’ awful.
makati1 on Fri, 7th Oct 2016 8:54 pm
Not a problem, I’mNot. After all, we had a sexual predator for Prez with Killary’s husband Bill. He still practices his addiction, I suspect. Who wouldn’t with a wife like Killary. The Rich and powerful are not subject to the laws and morals they preach. Never were. LMAO
I'mNotGhung on Fri, 7th Oct 2016 9:01 pm
Uh, in case you’re just having a bout of dumbass, Mac, they tried to impeach Bill Clinton for his behavior. That was the party of the “Moral”-fucking-Majority, the same party that nominated Trump, and now has to excuse HIS behavior.
There’s nothing you can say. Nothing at all that doesn’t make you look foolish.
I'mNotGhung on Fri, 7th Oct 2016 9:31 pm
The party of ‘family values’ has a YUUUGE problem.
JuanP on Fri, 7th Oct 2016 10:17 pm
My ancestors were English, Catalan, Italian and French. Based on my knowledge and experience of these nations I have always considered the EU a very temporary aberration. The EU won’t last a century. The Euro will last even less than the EU.
GregT on Fri, 7th Oct 2016 10:22 pm
How are things in Miami Juan?
makati1 on Fri, 7th Oct 2016 11:05 pm
I’m, they didn’t succeed did they? And they never will do anything that will change the course the elites direct. Look at how many laws and morals Hillary is getting away with breaking and they are protecting her all the way. An empire in decline is obvious. Look at Rome or even England. Morals be damned, full steam ahead to destruction and war!
Micaela Maria Martini on Sat, 8th Oct 2016 4:26 am
All this written on an Energy and Business magazine… interesting on how all media supporting banks and energy wants the Italians to continue committing suicide under Renzi and the EU…
joe on Sat, 8th Oct 2016 9:22 am
Cloggie, im not sure the British establishment wanted to win dude.
1) The had a vote in summer, the traditional months of vigorous youth exodus to exotic islands for debauchery.
2) The vote was on a Thursday i think with clearly defined opening and closing voting times (most people in the UK work all day, much harder than EU citizens and probobly went home to put their feet up rather than vote).
3) Immediately post vote result the UK liberal media came out en masse and blamed old people for the result.
My actual opinion is this. The British esablishment realise they pay too much into Europe and they get very little, the pound should be weaker to create jobs in the UK, they dont want to be forced to choose between Nato and a new EU Army (aka 4th Reich), they perceived correctly that Italy is a problem of the Euro and that they would never join it now (the uk was forced out in the 1980s). They realise that the trade issues will be hard but they believe in the end the EU political power is in Germany not Brussels and the German Chancellor will eventually make a deal after much bluster.
Italy will be treated like Greece if they leave or try to change its relations with the EU.
The EU has been a force for much good, but the desire to bring about an ‘ever closer union’ NOW is a mistake, it is somthing that suits the desires of the likes of the tyrant Erdogan hoping to unload himself of his excess workers to a part of the world as ethnically diverse as anywhere in Asia. Thats a mixture of explosive potential not one thats going to calm things.
Its allot less further for a French jihadi to get to New York than from Baghdad. People forget 9-11 was planned by a cell in Hamburg not Herat.
Cloggie on Sat, 8th Oct 2016 10:54 am
“My ancestors were English, Catalan, Italian and French. Based on my knowledge and experience of these nations I have always considered the EU a very temporary aberration.”
If you would have a partial German ancestry in your already impressive resumé, you would have known this:
https://en.wikipedia.org/wiki/Holy_Roman_Empire
Lasted for thousand years, an admittedly naughty time frame. Germans have staying powers, never underestimate them.
Cloggie on Sat, 8th Oct 2016 11:04 am
“Is fact, EU is already collapsing. I know, I leave there.
Mark my words : in France we are on the verge of civil war.”
What’s not to like, anything but the kosher NWO.
The EGKS/EEC/EC/EU had its use in overcoming excessive post-Napoleonic nationalism. The EU is a tool of Washington and as such needs to be destroyed and replaced by a rightwing, identitarian Europe of the Fatherlands, including Russia (“Paris-Berlin-Moscow”). When that is achieved, intervention in North-America is next.
In order to achieve the desired multipolar world, with Greater Europe and China the carrying poles, we need war and collapse.
Let’s bring it on.
Cloggie on Sat, 8th Oct 2016 11:20 am
“most people in the UK work all day, much harder than EU citizens and probobly went home to put their feet up rather than vote”
Not good enough joe:
http://tinyurl.com/oponoav
Joe, the majority of the establishment wanted to remain, at least for the moment. Cameron and May were remainers and they would have been until the EU would be destroyed, if ever, for whatever reason. For 500 years Britain wanted to see a divided and weak continent.
I agree with you that “ever closer union” is wrong and a recipe for a new USSR/USA-like bureaucratic monster. However abolishing any form of European cooperation would condemn us to remain the world’s museum. Instead, together with Russia we can and will have the largest military on earth, necessary to balance the coming hyper-power China.
@9/11 – sure, and these people from Hamburg also wired WTC-1/2/7 for demolition.
My counter explanation: the Mossad selected these three Hamburg “plotters”, killed them one year in advance and used the confiscatied passports to lay a trail in flight schools in Florida and finally drop them in a Manhattan street on the day of 9/11.
Cloggie on Sat, 8th Oct 2016 11:27 am
“wants the Italians to continue committing suicide under Renzi and the EU…”
Rubbish, Italy is financially by far the strongest country in Europe:
http://www.stiftung-marktwirtschaft.de/fileadmin/user_upload/Pressemitteilungen/2012/PM_Ehrbare-Staaten_Internationaler-Vergleich_06_12_2012.pdf
#5 Germany
#15 France
#20 UK
#25 Greece
Keyword: Italians have hardly any mortgage, they all live in largely paid-off real estate. Italians don’t like paying taxes, they prefer paying off their mortgage, call them libertarians, crooks or both.lol
degoycoechea on Sat, 8th Oct 2016 4:22 pm
i’m living in italy since 2005, and it is very very improbably that italy would vote for leaving the EU even when a lot of italians think that economy goes a little slow under EU organization…it is true that M5S was able to a couple electoral victories some of them very important like the City of Rome Mayor office (which has revealed a big flop until know) but it is very far, far away from gaining more popularity, as a matter of fact, just because what is happening in Rome the M5S is currently loosing public approval..
Cloggie on Sat, 8th Oct 2016 4:39 pm
“The European project was one of the steps towards a NWO cloggie.”
It has become a tool of the NWO only under extremely weak leadership under Merkel/Hollande since EuroMaidan.
In 2003 things looked very differently, when Schroeder and Chirac refused to join the US in Iraq. Perhaps the most important reason why Nuland & co. Intervened in Kiev was that the relationship between the EU and Putin became far too cosy to the liking of Washington and Ukraine was used to drive a wedge between Europe and Russia, unfortunately rather successful.
The EC/EU never challenged the western alliance, but Washington has always been very ambivalent towards the European project. And the current initiative of an European army is seen in Washington and London with great suspicion.
Deep in the constituing documents of the EU it is written that a multipolar world is the goal of Europe.
The current EU=NWO drama is mainly the result of the terrible weakness of Merkel-Hollande.
Davy on Sat, 8th Oct 2016 4:50 pm
My wife is Italian from the north near Austria. This is the most efficient and effective part of Italy in regards to getting anything done. Nothing gets done there in a timely fashion compared to here in the states. That is not all bad because the way of life there is much more human than the states. My point is don’t expect anything soon out of Italy.
Hello on Sun, 9th Oct 2016 1:23 am
Record number of apes arriving at shores of Italy. Soon, there won’t be no Italy no more.
Cloggie on Sun, 9th Oct 2016 3:31 am
That’s too pessimistic. The good news is that they are all stuck in Italy since France isn’t letting anybody in no more.
https://youtu.be/fX73ggsMNEI
Yeah, just another beautiful day in the US empire, thanks to George Soros & co.
In the next (civil) war no uniforms will be required. Italians can be pretty right-wing. Ah well, the more chaos the better, a necessary precondition to move into the next geopolitical phase.
A very important event in the coming WW3 will be that the Spanish will finally kick the British from Gibraltar and that it will be Europeans, not Anglos, who will decide who will be allowed to enter the Meditarrenean.
Hello on Sun, 9th Oct 2016 7:48 am
Not true Clog. Deutschland agreed to take in 500 apes/month to set a positive example for the rest of europe. Other nations will follow.
As child I went to the zoo to see apes. Who would have thought that one day I’m able to see them hanging around train stations, malls, city plazas and pretty much everywhere.
DIvya 108 on Sun, 9th Oct 2016 8:23 am
God bless you all,I’m living in a small country bordering Italy named Croatia. My country is testing ground for EU administration full of politicians and sycophants jerks who sold our land to big capital, int. killer corporations and banks…unfortunately general populace is so brainwashed and dull that for majority it doesn’t mater whether Croatia is in or out of EU…complete apathy..
joe on Sun, 9th Oct 2016 9:02 am
Dude Cloggie, you’re getting more and more insane. British out of Gibraltar? Do you think it really matters regarding access for shipping? Spain already owns most of the access through the straight of gibraltar you idiot. Britain was ceeded land there by Spain in perpetuity in the Treaty of Utrecht, youd think a Dutch guy would know that….
Cloggie on Sun, 9th Oct 2016 12:21 pm
Joe, I know history rather well, not necessarily to your advantage, ask ghung. How would like a Spanish naval fleet at Dover Harbor? Not going to happen right?
The Dutch have a special relationship with Gibraltar. When Holland was at war for independence from Spain between 1568-1648, they destroyed the complete Spanish fleet at Gibraltar in 1607:
https://en.wikipedia.org/wiki/Battle_of_Gibraltar_(1607)
After the Dutch invasion of Britain of 1688 and the subsequent regime change in London, turning Britain into a fine Protestant country, as well as an ally rather than enemy of Holland, the purpose of the invasion in the first place, as well as putting Britain on an anti-French course, a combined Dutch-British fleet conquered Gibraltar in 1704.
More on the Anglo-Dutch union:
http://althistory.wikia.com/wiki/Anglo-Dutch_Union_(Dutch_Superpower)
🙂
That was 1704, now is now.
Britain wants the US to be the leading force in the world, not Europe, the very same US that wants to phase out European people from history world wide. Sorry pall, but our ways part here. A potential conflict between Spain and Britain has been brewing for a long time:
http://aa.com.tr/en/politics/uk-spain-again-in-dispute-over-gibraltar/18057
May has promised that she will initiate article 50 by March 2017 at the latest. Once that is a fact, continental Europe will no longer let itself being dictated by wishes from London and finally begin to set up a European army. Germany has already released plans that will enable such an army even if the EU is blocked by Britain.
And tell me joe, do you seriously think that Europe will tolerate that a leaving member of the EU will continue to be allowed to own the most strategic seelane in Europe, just because of a Dutch-British action in 1704?
Expect a Nacht und Nebel aktion by the Spanish army to create facts, backed by EU, giving Britain the finger while saying: “that’s what you get if you leave the EU”.