9 Nov.James Turk - Expect Cataclysmic Events in the Coming...

9 Nov.


James Turk - Expect Cataclysmic Events in the Coming Weeks


Yields on the ten year Italian bond soared to over 7%. The 7% hurdle is considered critical because once Greece and Ireland went over 7%, they turned to the EU for a bail out. So the thinking now is that Italy needs a bail out too, but here’s the problem. Italy has two trillion euros of debt. That’s greater than the total amount of debt owned by Greece, Ireland, Portugal and Spain combined.”


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