The Collapse Is Herreeee Johnny!*Updated Courtesy of ShakeALeg

This is going to get interesting.

I've been watching and reading about the eurozone collapse for what seems like years. I can sum it up in a sentence or two.

The greatest credit expansion of all time will be followed by the greatest collapse of all time. This will be a world wide event. The only thing keeping this collapse at bay is the life or death struggle of the status quo (bankers, insurers, bond holders, politicians) as they desperately try to find ways of stopping the inevitable. http://www.telegraph.co.uk/finance/financialcrisis/8947470/Eurozone-banking-system-on-the-edge-of-collapse.html

Dave over at the Golden Truth published my all time favorite quote from Austrian economist Von Mises who quite succinctly stated the out come: "There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final or total catastrophe of the currency system involved."

This collapse will be a fucking doozy. 

In the present case- the entire world is at risk. This isn't just some mess confined to Europe. These are world wide bankers, one giant web, interconnected by swaps and shadow lending, leverage on steroids, derivatives, insurance, and counter party risk. When banks and countries start falling like dominoes, everything is going to go to hell. How is a bankrupt and collapsed Europe going to buy US treasury debt? There is nobody left to borrow from.

You can bet your ass that Obama is well aware of the systemic risk to his re-election prospects. Knowing this fiasco is beyond his control and knowing that he sold us out to bankers- gives me special delight. It is justice.

I enjoy watching the worldwide soap opera knowing that there is only one way it can end. Watching these people run around and search for non existent solutions is amazing. On a micro scale- I am out of TBTF banks entirely. I have possession of silver and gold. You should also take a significant amount of money, currency, out of the bank and have it at your disposal. After watching MF Global literally steal at least 1.2 billion of customer/client money and get away with it- I am now starting to worry about counter party risk everywhere.

Quite simply, if you don't have your assets in your possession- they are not your assets.

Check out this link courtesy of shakealeg. Love this dude, don't even mind a rant he goes on about atheism...http://dotsub.com/view/d225dde1-d8eb-4de9-85ff-f41f1dd0ff2f