The European banking implosion has now shifted into hyper-drive. We’ve now broken out of the triangle pattern of the last few months in a big way to the downside. I’ve added the movements made in the overnight futures session to the chart below.
German courts are scheduled to rule whether Germany can even participate in European bailouts this Wednesday. Given the action in the Euro it looks like the answer won’t be positive. Indeed, there are rumors swirling that Germany may in fact even pull out of the EU altogether (I’ll believe this when I see it).
One thing is for sure, the European markets are in a free-fall. Germany and France’s stock markets fell 5% and 4% respectively. By the looks of things, they’re heading straight into their version of a 2008 type event. Given how interconnected the global banking system has become, this could very well spill over into the US in short order.
Indeed, the US stock markets have collapsed in the overnight session. I’ve added the drop to the below chart. One more hard down day and we’re at new lows for this collapse (as I forecast a week ago).
If you’ve yet to take steps to prepare your portfolio and your loved ones for what’s coming, NOW is the time to do so. Because at the pace we are going, we could see a full-scale market Crash within the next week or two.
However, that’s not all we’re facing. If the European banking system collapses, we could very well see a Round of Systemic Risk that could involve bank holidays, food shortages, civil unrest, and more.
This is why I released my three special reports titled, Prepare Your Family, Prepare Your Savings, and Prepare Your Portfolio: to help my Private Wealth Advisory subscribers prepare these areas of their lives for a Crisis that will make 2008 look like a picnic.
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So we’re positioned for whatever may come. In fact, the worse things get, the greater our profits will be.
If you’re ready to take action now, prepare your personal finances and loved ones for what’s coming, and potentially even lock in triple digit winners when the Crash come, you NEED to take our a trial subscription to my Private Wealth Advisory newsletter.
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To do so… and start preparing for a Crisis that will make 2008 look like a picnic (heck just look at the first leg down that occurred in early August)…