The current liquidity crisis on the southern periphery of the Eurozone now appears likely to spread to all of Europe, and then globally. There are already quiet electronic bank runs in progress in Greece and Spain. On Monday, a bank “holiday” was announced in Italy. More bank runs will likely follow. As of today, Wednesday, June 13, 2012, I strongly urge all SurvivalBlog readers to immediately draw down their checking accounts and liquidate their CDs, passbook savings accounts, and most of the their stocks to buy tangibles. If you already own a retreat, an honest one year storage food supply, and a battery of firearms with ammo and plenty of magazines, then go ahead and buy physical silver. (But don’t neglect investing in those crucial “Beans, Bullets and Band-Aids” first.) With spot silver presently under $28.70, this is an ideal time to get out of paper and into tangibles.
The Midnight Flit: U.S. cities struggle with blighted bank-owned homes [1]. (Thanks to Sue C. for the link.)
J. McC. was the first of several readers to mention this: North Dakota Considers Eliminating Property Tax [2]
Madrid Leans on Its Troubled Banks to Buy Its Bonds [3]
Jay B. sent something worth watching: Silver For The Pawn Star Masses [4]. JWR’s Comment: Note that it confirms my warnings on the potential perils of buying any ingots larger than 100 ounce serialized bars.
Items from The Economatrix: