Today the UKIP leader and MEP Nigel Farage told the European Parliament that the Troika (European Commission, ECB and IMF) are common criminals stealing money from people’s bank accounts. He warns depositors to get their money out of the Eurozone. He calls the EU the New Communism having Power without Limits.
This is a powerful speech by Farage. Getting the money out of the Eurozone is of course not enough. Investors must get their money out of the banking system worldwide. See my recent piece “Get Your Assets out of the Banks – NOW”.
The situation in the banking system is critical not only in the EU but also in the USA, Japan and China. The headline in the Financial Times today is “Warning on “out of control” China debt”.
In a bankrupt financial system it is critical to preserve wealth by holding gold outside the system.