{"id":35737,"date":"2011-11-22T17:25:37","date_gmt":"2011-11-22T11:55:37","guid":{"rendered":"index.php\/2011\/11\/22\/everybody-and-their-mother-is-getting-out-of-the-euro\/"},"modified":"2011-11-22T17:25:37","modified_gmt":"2011-11-22T11:55:37","slug":"everybody-and-their-mother-is-getting-out-of-the-euro","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2011\/11\/22\/everybody-and-their-mother-is-getting-out-of-the-euro\/","title":{"rendered":"Everybody (and their mother) is getting out of the Euro"},"content":{"rendered":"
\"Maps<\/a> <\/p>\n

Image via Wikipedia<\/a><\/p>\n<\/div>\n

Not to kick a man when he is down, but the news about institutions, depositors and finally money market funds<\/a> getting rid of Euros have been piling up. US funds have been cutting exposure<\/a> to both European banks as well as PIIGS debt. Even a German holiday company (TUI) started preparing for a Euro pull-out<\/a>. Warren Buffet thinks the EU cannot be saved<\/a> in its current form and Soros has been a hater<\/a> all along.<\/p>\n

The latest meme in this train-wreck is that PIIGS under pressure in the bond-market should offer gold as their collateral! If it worked for India in the 90\u2019s, it should work for Europe in the 10\u2019s, yeah? Even though I was ten at that time, I still remember the popular outrage when India shipped 47 tons of gold to England. What a reversal of fortunes it would be if Europe were forced to ship their gold to China. Italy holds about 2,400 tons of gold in its vaults, I hope the Chinese have built a big enough room to hold all that metal.<\/p>\n

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