Should United States citizens be concerned about the debt crisis in Europe? Are Americans ready for the collapse of the euro?
Monday, President Obama certainly thought American's should be concerned about Europe's single currency and said it must be handled "in a clear and forthright way," as he spoke to leaders of the Europe Union, according to USA Today.
Texas congressman and presidential candidate Ron Paul collapse of the euro video gallery).has raised his voice for years and foretold of these events due to bailouts, as Dr. Paul is considered America's foremost leader for limited constitutional government, low taxes, free markets, and a return to sound monetary policies. (See the
Meanwhile, British embassies in the eurozone have been told to create strategies to help British expats through the collapse of the euro, while fears for Italy and Spain loom in the future.
A senior minister in Europe is saying it's just a matter of time for their currency to collapse, according to Tyler Durden of Zero Hedge.
“It’s in our interests that they keep playing for time because that gives us more time to prepare,” the minister told the Daily Telegraph.
So, what should American's do?
Alabama resident, Dwayne Williams has some ideas. He is quite concerned about Europe's dilemma and is making plans to protect his family here in America. In fact, he wrote to me with a sense of urgency, warning, and some advice for us on what we can do to prepare ourselves for the worst.
In a sense, his message is like insurance--you purchase it hoping you never have to use it, but you keep it current "just in case." Similarly Mr. Williams gives the following warning:
With the current crisis in Europe unfolding before our eyes, I would like to start a conversation about what you and I can do to make sure we are prepared for any contagion or fallout from an inevitable European Banking System collapse.
If we as Americans think that Europe has nothing to do with us, we are sadly mistaken. The current financial system is so interlinked that a collapse of European Banks will surely affect the United States. How bad will it be? Not even the experts can answer that question. So, with that being said, what can we do?
All I can tell you is what I am doing. My family is keeping enough cash on hand (not in the bank) to get us through at least two weeks for food and necessities in the case of a bank holiday or temporary shutdown. I am doing this until I am certain that a meltdown in Europe isn't going to tie my money up in a closed bank where I can't get it.
What are the chances of that happening? I don't know but it is better to be prepared than caught short. It is more likely to effect you if you have an account with one of the national/international banks. I'll not name any of them, you can do your own research on whether your bank falls in that category.
The European crisis is escalating and without a eureka moment it is going to fail. That failure will bring about a worldwide crisis that is sure to challenge the global financial elite's skills, if they have any other than theory. I firmly believe its the latter. It might be smart to have a little bottled water and canned food on hand to sustain you and your family for a while. You have to be the judge of how much you should have on hand.
If I'm wrong, you won't lose anything but if I'm right it could save you a lot of headache and misery. I would recommend you have a sturdy safe in a hidden place for any cash you decide to keep on hand to keep it safe and secure. Under the mattress is not a wise idea. Again, be prepared for any contingency and you will be able to ride out any temporary shocks to the system.
A long term collapse? Well, we will all be on our own for that. If anyone has any other ideas that people of modest means can do to be prepared for such a situation please feel free to comment. Please be serious. Its not a joke. Heres a link to what is happening in Europe and what the Governments are doing to prepare for an inevitable collapse. ~~~
What do you think, should American's prepare for the collapse of the euro?
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