Sprott Money Contact Form

Thank you for contacting Sprott Money.  We will respond to you within 1 business day.



The Sprott Money Team

Sprott Money Ltd.
111 Queen St. East
Suite 501
Toronto, Ontario M5C 1S2

[t] 1.888.861.0775
[f] 416.861.9855

Administrative office only - no walk-in sales.


Please Try Again After Some Time...
Please enter valid captcha
Loading Image
Swipe to the left

The European Union’s Days Are Numbered, Chaos Erupts in Italy- Nathan McDonald (29/05/2018)

The European Union’s Days Are Numbered, Chaos Erupts in Italy- Nathan McDonald (29/05/2018)
By Nathan McDonald 2 years ago 2838 Views 2 comments

May 29,2018

A sea of red across the board.

Contagion is setting in as investors in the United States return to the markets after their holiday weekend. We are witnessing a full-blown panic set in as markets around the world are down across the board.

The source of this comes from Italy and their inability to form a cohesive government. The current ruling party recently rejected the offer to form a coalition with the next largest party, which are Euro Skeptics.

The reasoning for this is that they believed it would cause unease and chaos in the markets. Ironically, the very thing they were trying to avoid is exactly what they made happen.

Now, Italy faces a political crisis. The pro EU government is losing control, and uncertainty gains momentum with each passing minute.

Italian bonds have crashed overnight as investors flee the country and look for safer locations to park their funds. Faith in the current government’s ability to restore order is failing.

Once again, we have come full circle, as this story is familiar to anyone who has followed the markets for any period of time. Italy faced its last crisis in 2012, when it was bailed out by the European Union. So, too, were Greece and Spain—the latter of which has now entered into another crisis, as well.

The situation is grim for those who are pro EU, while those who are Euro-Skeptics gain traction with each passing day.

Contagion is now setting in, and it’s something that Central Bankers around the world are likely scrambling to stop. This bane of the modern banking system has the ability to bring the entire system to its knees, as seen during the 2008 crisis.

The doomsayers are out in full force, predicting once again the shattering of the European Union, and I am on board with them. This system is utterly unstable and uncontrollable. Forcing so many countries, with greatly differing economies and political systems, under one fiat currency and set of regulations is an abomination. It’s a disaster just waiting to unfold.

As we have seen for many years now, these crises will occur at an ever-increasing rate, as the fractures in the system continue to spread.

The European Union’s days are numbered, no matter how many Band-Aids they apply to the many wounds appearing all over their system. It is not a matter of if, but when.

Great change is coming and with it, intense uncertainty and calamity, before eventually order is restored.

Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.

Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.

In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world.

He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.

The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.You may copy, link to or quote from the above for your use only, provided that proper attribution to the author and source is given and you do not modify the content.”

Critical Mass 2 years ago at 11:52 PM
If multiculturalism strengthens groups why do the EU's 28 nations have so much trouble working together? It appears to have the opposite effect.
Commenter 2 years ago at 10:58 AM
Multiculturalism cannot be imposed on countries. The concept of an EU is more of uniculturalism rather than recognizing and accepting the diversity of cultures.

Back to top