An Avalanche of Sovereign Debt and Bank Downgrades

December 2, 2011

Recently, Moody’s warned of an escalation in Europe’s debt crisis and put 87 banks on review. S&P may cut France’s AAA credit rating after downgrading many of the world’s largest banks. Mike Larson sees these moves as the beginning of an avalanche.

 

{ 2 comments… read them below or add one }

1 Rafael Blumental December 5, 2011 at 10:42 am
Dear Mr. Larson, thank you for your video. You are 100 % right, the financial Catastrophe will be larger than you think. When the people in this world can not pay their Credit Card and Mortgages our world printing Money became Wallpaper.Only Gold and Silver will be the real Money of the World. Sincerely Rafael Blumenthal

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2 Mary Anne Svadjian December 5, 2011 at 3:48 pm
Mego, Serious ……. I and my brother are looking to buy gold bullion and looking for a safe haven to put it. I recommended Canada to him since your Banks are Solvent to put it into a Vault there. We feel this is our best hedge with the Euro Crisis and what may become our worst nightmare in the States here in the near future. Who and where would you recommend in Canada this may be best stored . Mary Anne

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