Mike Adams | Natural News
The financial collapse of the Eurozone may be upon us. This Wednesday, September 12, the Federal Constitutional Court of Germany must decide whether it is legal for Germany to participate in the financial bailouts of other nations in the Eurozone.
The court has been inundated with tens of thousands of petitions (not just petition signers, but tens of thousands of individual petitions) demanding the court say NO to the bailouts and stop draining Germany’s economy to rescue the failed debt spending of other nations.
Here’s why this matters:
A NO decision means a rapid financial collapse of the Eurozone
If Germany votes NO, then Germany stops bailing out Greece, Spain and other nations on the brink of financial disaster. Sometime in the coming days, weeks or, in the best case, a few months, European nations start collapsing, complete with bank holidays, riots in the streets and almost certainly martial law.
This collapse will, at first, cause a flight of capital to the USA, making the U.S. look stronger in the short term, but given how many U.S. banks are invested in European financial instruments (derivatives), the U.S. banking collapse won’t be far behind.
A YES decision means runaway hyperinflation across the Eurozone
If the German court votes YES to the continued financial bailouts, then Germany must crank up the printing presses and start creating money at such a rapid pace that hyperinflation becomes almost inevitable. Literally trillions of Euros would have to be (electronically) printed in Germany, then transferred off to other countries like Italy, Spain and Greece, where banksters and governments have spent themselves beyond the point of collapse and are in desperate need of bailouts.
In this scenario, German citizens would be bailing out governments all across Europe… and that’s not exactly a happy idea among the Germans who are working for a living and thereby having their wealth stolen away by the state through endless money creation.
Either decision spells financial collapse, just on different timelines
The upshot of this is that either decision spells financial collapse for the Eurozone. The NO decision means a rapid economic implosion; the YES decision means hyperinflation spiraling out of control.
Either decision is bad for the Euro. And just as importantly, either decision also spells eventual catastrophe for the U.S.
Why the Euro crisis will send a financial tidal wave headed toward U.S. shores
U.S. banks have heavy exposure in European debt networks. When the Euro implodes, the ripple effect will very rapidly cause catastrophic debt failures of many of the top U.S. banks — the big banks with names you know and (foolishly) trust.
We are talking about such a massive exposure that when the stuff hits the fan, U.S. banks will be forced to declare bank holidays.
A bank holiday, for those who may not know, is when the banks close their doors and announce, “You can’t get your money.” The term “holiday” was chosen as a kind of Orwellian linguistic trick to make it sound nice, if not downright comforting. In fact, it’s a bank seizure of all your deposits and investment funds.
This bank holiday may also result in the following devastating effects across the U.S. economy:
• A halting of the use of EBT cards (welfare spending cards) • A halting of all e-commerce (online retailing) which goes through those banks • A halting of all commercial payments and transactions through those banks • A halting of all ATMs that use those banks (you can’t get your cash out) • A halting of all money transfers and checking activity in those banks • A halting of all PAYROLL from companies using those banks
You don’t have to be a genius to figure out what this means. Within a matter of days, we’re looking at riots in the streets, widespread business bankruptcies, and the inevitable Martial Law, complete with secret arrests, NDAA-authorized killings of American citizens, and the roll out of the government’s 1.4 billion rounds of hollow point ammunition to be used against the American people (http://www.naturalnews.com/036847_ammo_purchases_government_stockpili…).