An advisor to the International Monetary Fund (IMF), Dr. Robert Shapiro, appeared on a popular UK broadcast this week revealing how a domino affect of financial institutions was about to be triggered on a global basis, that a cascading meltdown of the World's banking system starting with sovereign debt in the Eurozone, affecting the UK, then finally bringing down the global banking system was imminent. Even more shocking, Dr. Shapiro, a Harvard economist, stated a time frame of the melt down would be within the next two-three weeks.
"Intensifying solvency concerns about a number of the largest U.S. based and European financial institutions have pushed the global financial systems to the brink of systemic meltdown," IMF advisor says." YouTube Video (below).
"On the verge of a perfect storm", Lord Myners, adds supporting Shapiro's comments. Myners was a former Financial Services Secretary, 2008-2010
The last revelation surrounding the possibility of a global meltdown was just a few weeks ago on September 22, 2011 when investors began dumping stock en masse:
With no solution in sight for Europe and new fears of a global recession, investors dumped stocks and commodities and ran to the safety of U.S. Treasurys.- Global Meltdown: Investors Are Dumping Nearly Everying - September 22, 2011 - CNBC.com
Excuse me for discontinuing with this article since my stomach's reacting to this news, I have a bit of indigestion to deal with since my stomach's apparently having a meltdown. Tums for breakfast anyone?
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