(Go here for Martin’s 6-minute video in Italy.)
Martin here, from Milan, Italy.
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This is the financial capital of Italy, and Italy is the third-largest economy of the European Union.
Plus, it’s also the one country in the entire world with the most megabanks on the brink.
Consider this bank behind me, for example, UniCredit SpA.
We give it a Weiss Safety Rating of D, a reliable indication of a much higher-than-average probability of financial difficulties. And yet this bank has over $1 trillion in assets, making it one of the biggest in the world.
But it’s not the only one. In my just-released, 6-minute video …
- I give you my short list of the other megabanks on the brink …
- I explain why this could be the epicenter of the next debt meltdown, and …
- I tell how it’s bound to impact U.S. markets.
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World’s Largest Market is Crashing Over the next 6-12 months, the U.S. will experience its biggest and perhaps last test as a country. It will challenge your emotional and fiscal security as a “provider” (if you have a family). Watch this video as soon as you can, |
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If you click here, it will play on your screen right away. Then, just leave your comments and questions below, and I’ll do my best to address them one week from today.
Good luck and God bless!
Martin
Dr. Weiss founded Weiss Research in 1971 and has dedicated his entire career to helping millions of average investors find truly safe havens and investments. He is Chairman of the Weiss Group, which includes Weiss Research and Weiss Ratings, the nation’s leading independent rating agency accepting no fees from rated companies. His last three books have all been New York Times Bestsellers and his most recent title is The Ultimate Money Guide for Bubbles, Busts, Recession and Depression.
{ 38 comments }
Dear Martin,
Please, would you be so kind to let me know how is your opinion about the Italian “VENETO BANCA” ? Is it in danger as well ?
Thank you very much for your response.
Best regards, Branko
Martin:
What are the top 5 biggest and safest banks in the world?
U.S. bank is about the safest with very little bad debt but as for the worst citibank bank of america wells fargo goldman sacks morgan stanley
Thank you Martin as always I think your one of the sharpest knives in the drawer. Eagerly looking forward to hearing your comments on your fabulous trip.
Just returned from England and Norway…… Most of the successful Italians that I met on that Cruise now live in Great Britian or the U.S…… Sadly, the EU never had a minimum economc success level requirement before membersip….. Had there been one, none of the PIGS would have been granted memebership until they cleaned up their balance sheets…. Without the PIGS, the EU would be doing much better and England would not be considering leaving…….
what/how the politicians are thinking and saying about this debt-driven economics ?is there any pathway to recovery in the horizon ? money will flow to areas of future growth for its yield but what happen to its people .are we in an era of “policy-exhaustion”. new beginning should emerge ?
Italy and Italian banks have been on the brink for years. This just puts the perspective in a little clearer focus. Anyone who has not prepared for this has simply been asleep at the switch.
All the cash rich companies are liquid!
Not in the market
Is this in anticipation of a market collapse!
Many are looking at safe deposit boxes.
The entire world economy is dependent on debt. If one large national economy collapses because of that dependence, it is almost certain that the collapse will quickly spread to all nations. After all, every national economy is based on fiat currency, which is about as real as the emperor’s new clothes in that famous fairy tale. Of course, even gold has only a fiat value, when you cone down to it. A starving man would gladly give up a 10 oz. bar of gold for an ear of corn, if that was the demand.
With all due respect, I quite disagree. While a starving man may give up “his 10oz gold” for an ear of corn. I think you would be hard pressed to find any bullion dealers who would give up theirs for an ear of corn. Since ancient times, Gold has held a value as a medium of exchange.
There are numbers of reasons for this. It does not tarnish or rust. It is malleable. It is pretty and makes nice jewelry. And, perhaps the most important point, it is limited in quantity! You can’t create gold like you can create dollars or yen. This was the main reason the dollar was set to 35/oz gold at Bretton Woods. The dollar was a stable currency until Nixon took us off of it, and floated the value.
To your point about a debt ridden world. Yes, few could buy a car or house without taking on a loan, yet keep one thing in mind. All credit card accounts come with a credit limit. Once you hit that, your credit card spending is over. Same if you don’t pay your rent or mortgage. Your stuff ends out on the curb.
“The wise man seeth trouble and hideth himself” Get some gold today.
I am a grocer and there might not be that ear of corn. Best next move is to hide your self deep. I already am.
Frankly, I don’t watch videos in order to acquire information. In fact, I usually refuse to play them. I believe people who are serious about learning from your website would rather read what your presenters have to say. It makes the taking of notes much easier, and one can go back and re-read a passage when necessary.
Herb Kincey
Santa Fe, NM
Excellent–visual and oral leaves an impression that written words lack.
Keep up your “informertials”. I can see you are enjoying yourself.
Your economic articles are great. But you seem to be avoiding the forest and discussing the trees in the forest.
How about the world money cartel? What stranglehold does it have on Italian and USA banks? Is this issue too hot to handle? I posted on my websote the following article about the world cartel:
http://www.freegrab.net/currency_vs_stock_market.htm
Your feedback is most appreciated
Thank you.
DO YOU THINK OUR (USA) GOVERNMENT IN DESPERATE times will grab our IRA and our checking account money? Is money in a private safe better than money in a bank account? I love your research. THANKS FRANK
YES
What about the real possibility of an HEMP….. This is the war of the future for which the USA is totally vulnerable and unprepared. Then all electronic would be down and computers worthless. Back to the stone age. Also Obama is giving control of the Internet to the UN if not stopped. And the UN is not a friend of the US at all. A major virus and computer business as we know it would all be over. I don’t think you are considering the larger picture?
So with all the crashing and hyperinflation coming on like a freight train, how will anyone be able to receive income from investments and what would that be in where the banks may not be in operation? Is this where “World money” comes into play with all the economies and we all start on the same monetary system? Curious as to how our future looks from here when the great and phony money (dollar) hoax is crushed and what are we left with and those that follow us…why can’t we have someone at the helm that can lead, guide and maybe even pave the way instead of creating greed, gluttony and deceitfulness for personal gain leaving all else to fend for themselves with nothing to do it with after all the ruin……shame on those that take for themselves at the cost of all other human life, ramifications could last til the end of time as we know it. Hope they choke on it!
+Thanks for your commentary, it was very illuminating. You urged people to increase their cash holdings. Where would one invest those cash holdings, with so many banks in bad financial condition, and with the threat of negative interest rates and possible Federal confiscation?
Look forward to your reply.
Rent a small storage unit, preferably not even in you hometown. Pay cash up front. Put a safe in the back. Buy a bunch of junk at yard sales, fill up the front of the storage unit. Bingo- just about the most secure place you could possibly have as long as you don’t tell or brag about it.
I see the government is looking for some new way to fudge sorry calculate the GDP numbers to make them more palatable to investors. Its amazing what governments can come up with when reorganizing economic numbers. Yes truly amazing. I went from a decent COLA increase in my pension to zero nada zilch in just a couple years. Anyone who shops to eat and survive know that they are a pack of lies. It will be interesting to see how they will put lipstick on this pig.
HEY MAYBE ITS TIME TO GET A JOB
I have send this earlier also..2 of yr own analysts are not in the same boat..larry edison and mike lardon on Gold…also there are others like mr Dent who are talking abt gokd reaching $300..whom to follow?if thw fundamentals are so bad why markets going up?
Martin:
Would it be possible to get an opinion from you privately?
Hi Martin
It seems the world is mired in debt and elections are won and lost on who gives away the most targeted free stuff. If you consider the best investments at the moment with some risk, for me it is gold related. Central banks are abusing the money supply and stock markets seem over valued with more downside than upside.
I’ve been working with Italian clients this summer. The situation is as bad, if not worse than what yo say Martin. You must add to all this the very real threat of terrorism, especially for some targeted groups.
It seems possible that central banks are quietly increasing gold reserves so that they can manipulate the cost by a sudden liquidation of gold, forcing the price way down and then re-purchasing same in large amounts forcing the price much higher than their original cost of purchase and thereby easing debt. This scenario would validate the presently conflicting views of Mr. Dent ( anti gold) and other advisors (pro gold). I hasten to add that I have little knowledge of financial matters.
If you had paypal as an option of payment, I would purchase the subscription. Can not be to safe in this crazy world we live in.
Dear Martin,
I have a few hundred dollars left in a bank.
Would you recommend pulling the rest out to avoid bail-ins?
Thank you!
TJ
Agree with Herb’s comment. Better to read paper as watching a cassette on TV
Dr Martin Weiss videos are always well put together. He’s a true professional.
We have money in bonds drawing 5 % . Should we roll it over into something else? if so what ? I keep thinking we need to cash them in and invest part in gold , foreign currencies and hold some in cash.
Will life insurance policities be worth anything when this new money is announced?
Thank you so much .
Your assessment of Italian Banks is correct however the aggravating factor non mentioned is World Financial Debt it could be correlated that the “bad loans debt if Italian Banks” to the Central Banks of the largest economies US, China, Japan, EU. The US Debt
is about 20 Trillions the reason of 0.50% Interest rate is with higher IR the US could not pay “the Interest” in the Debt without wrecking National Social expenditures. The Only reason the US is “apparently” in better Financial shape than the rest of the World Economies is the Dollar as World reserve currency that is the real Switch that keeps the
World lights “On”. How long will last ? No one knows . . . let’s keep our fingers crosses !
I have been around the world 3 times- half of the countries I have visited I would feel unsafe to visit again. Our roads are also getting that way- buy your dash-cam!!!
Is there a print transcript of this video ? Everybody expects me to watch a video about everything. I haven’t got enough time to watch every video. Give me a transcript that I can scan for the important points.
Several years ago you used to have a transcript for every video. Whenever you x-d out the video, the transcript would automatically pop up behind it.
Thank you.
Australia’s “Four Pillar” banks are as solid as the long term real estate debt on which the’re founded.
No worries mate, she’ll be right!
When it the financial meltdown happening in Canada. Are shares in Canadian Banks and payroll savings going to be confiscated ?