Bob Chapman : Europe and America Morally and Financially Bankrupt

Greece Bailed out, 19 more nations to go, Greeks not ready to submit to austerity, Gold is the antithesis of Fiat money, false hope for jobs, Goldman Sachs under investigation, but they make money every quarter regardless...

Greece has its immediate financing. Now the question is can they follow the prescription? In all likelihood the answer is no. the bond markets are reflecting that via a lack of confidence. In fact, some bond markets are falling apart and there is no end in sight. We have bond rating firms lowering ratings, as the rating services themselves are under serious fire and we do not believe they will be around long. The big question is why did it take two years and 10 months to react?

There are 19 nations with serious sovereign debt problems and there is really no way back for them. They may as well all default, because the austerity programs they’d have to follow and at the same time to satisfy creditors, not only is impossible but it signals years of stunted growth and perhaps in many cases the possibility of revolution. Greece certainly fills that bill. We see the Eurozone rules may soon be changed, so that Eurozone participants can assist one another. That means in time they will all collapse together. As many as five members could need assistance of the 16 in the zone. Our guess is permanent bailouts will go forward and the ECB rules will be changed to allow the ECB to function like the Fed. Greece and many others are trapped and they will burden the healthy nations and neutralize them. This approach is the ECB nuclear option. It will destroy the zone eventually. This will destroy the euro and end the option of the euro becoming the world reserve currency. The zone would have adopted the same approach as the US and UK in destroying their currencies. How can you have a union with one interest rate, where the ECB controls the monetary policy, but cannot control the budget deficits, borrowing and spending activities of its members?
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Mr. Chapman also known as The International Forecaster is a 74 years old. He was born in Boston, MA and attended Northeastern University majoring in business management. He spent three years in the U. S. Army Counterintelligence, mostly in Europe. He speaks German and French and is conversant in Spanish. He lived in Europe for six years, off and on, three years in Africa, a year in Canada and a year in the Bahamas.

Mr. Chapman became a stockbroker in 1960 and retired in 1988. For 18 of those years he owned his own brokerage firm. He was probably the largest gold and silver stockbroker in the world during that period. When he retired he had over 6,000 clients.
Bob Chapman : you got to remove these people from the government
Starting in 1967 Mr. Chapman began writing articles on business, finance, economics and politics having been printed and reprinted over the years in over 200 publications. He owned and wrote the Gary Allen Report, which had 30,000 subscribers. He currently is owner and editor of The International Forecaster, a compendium of information on business, finance, economics and social and political issues worldwide, which reaches 10,000 investors and brokers monthly directly, and parts of his publication are picked up by 60 different websites weekly exposing his ideas to over 10 million investors a week.

In June of 1991, at the request of business associates, and due to retirement boredom, he began writing the International Forecaster.
Bob Chapman : do not expect the government to guarantee your bank account , it is bankrupt