Eurogeddon

Financial papers are talking about a collapse of the euro, as the European Union implodes through unsustainable debt.

Some countries have brought in austerity measures, but the austerity doesn’t pay off any of the national debt, it means they just spend less. Britain’s annual deficit fell from £160 billion a year, to $150 billion a year, after the austerity budget.

So the country has to borrow ten billion less this year, but not one penny is repaid of what it already owes, which is one trillion, and Britain’s forward obligations are £3-4 trillion, that they need to find.

I saw a vision of a €50 euro note, the color and the art was correct, but in the corner of the note was number 20 not 50.

It seemed a way of saying the euro will collapse by 60%. The dollar is $1.34 to the euro today, so if the euro falls 60%, then just $0.55 cents will get you one euro.

I believe it will collapse; the countries owe so much, the situation for them is hopeless long term. (Stuart Wilde)

Stock Operators:

EUO is the Euro short ETF. I bought a few Jan 2113 calls strike $19.

P.S. UK Foreign Office Warns of Euro Riots. See the following link (Prepare for riots in euro collapse… Foreign Office warns)

© Copyright 2011 – Stuart Wilde – All Rights Reserved.