From AGXIIK: Q1 2012 Timeline: A Collapsing Euro, JPM/GS to Raid GLD/SLV
Unicredit just took a 60% haircut on share price to get a few billion Euros of equity boost. It will fail soon
That bank failure will tip into the other big French and Spanish banks, causing them to fail.
The Euro value will crush down 30 plus percent in value.
The Euro bond defaults will happen almost immediately.
This Lehman-like set of failures will hit our big banks holding $500 billion or more in Euro debt.
The TBTF banks start emergency actions, gathering liquidity by calling loans and preventing cash draws
JPM will fail due to its bets for and against the Euro. GS/JPM may fail due to backing of EU debt
JPM, GS and HSBC will rob the GLD/ SLV bullion vaults in London to grab as much liquidity as they can.
These banks will sell PMs for any price they can get, without concern over the effect on PM longs
The silver and gold prices will drop precipitously, much like the 25% down tick in 2008.
The major miners in Central and South America will refuse to sell silver at the depressed prices.
Silver shortages will abound, breaking physical and paper silver prices---potentially gold too.
The silver shorts will, if they survive even temporarily, go long and buy everything they can when prices drop
The US government and Fed will turn the proverbial blind eyes to this blatant illegality for obvious reasons
Bank holidays will be common place in the US, Great Britain and Europe.
These economies will effectively grind to a halt.
There may be temporary stop gaps and speed bumps on the Road to Perdition, but they will not hold for long
