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Europe Edges Toward Disaster

By LINDON, Utah - February 8, 2019 No Comments

From yellow jacket protesters in France to turmoil over Brexit in the UK, Europe has rarely seemed more unstable. Elsewhere in Europe, economic issues are more pressing. Italy has already slipped into a recession and Germany may not be far behind. A crisis in Europe would almost certainly pull down the US economy, and gold may be the best way to protect your family's financial future.

The growing uncertainty over Brexit threatens to plunge the UK into a major financial crisis. British Prime Minister Theresa May could still reach a last-minute agreement with the EU. If not, then there could be a hard Brexit with no agreement at all. Maybe Brexit will be called off altogether. There might be another referendum. Perhaps there will be a new general election in the UK instead. Theresa May could be replaced by Boris Johnson, Jacob Rees-Mogg, or even Jeremy Corbyn. With so much uncertainty, gold is one of the few remaining safe havens. 

In France, yellow jacket "gilet jaune" protests continue despite getting less coverage from the mainstream media in America. The truth is that French President Emmanuel Macron remains unpopular. Cold weather may have played a significant role in reducing the number of demonstrators. The yellow jackets could take to the streets with renewed fury in the spring. European Parliament elections are also scheduled to take place in May. It looks like the election results will spell disaster for Macron, the EU establishment, and the euro. A crisis of confidence in the euro would also shake global financial markets, and gold stands to benefit.

While Britain and France face political issues, other major countries in Europe are beginning to experience significant economic problems. GDP growth in Germany fell to the lowest level in five years during 2018. The German economy barely managed to avoid falling into a recession late last year after contracting during the third quarter. Germany is often called the engine of Europe, and that engine is sputtering. Elsewhere, the situation is much worse. Italy is already in a recession, which makes it more difficult to make payments on Italy's massive national debt. To avoid default, Italy could eventually follow Britain out of the EU and trigger a banking crisis. 

The chaos in Europe is near the crisis stage. France and Britain are far too big to be bailed out like Greece and Ireland. If anything goes seriously wrong in the UK, France, or even Italy, the entire world will suffer the consequences. The US stock market is already showing dangerous signs of instability. There could only be a few months left until summer brings more unrest and a euro crisis. This might be the last chance to buy gold and silver before disaster strikes.