Europe’s Shrinking Money Supply Flashes Slump Warning!

• The Eurozone is going to collapse. It is getting pretty close. Once the Illuminists have their way with fiscal union of most of Europe and the empowerment of the ECB to do whatever they want, they will pull the plug. It is very clear that the Euro will not survive. The Illuminist politicians despite all their rhetoric about saving the Eurozone are simply laying the foundation for a super merger with a re-engineered and enlarged United States 2.0 to form a World Government, Luciferian New World Order with a One World Currency and Global Supra-National Central Bank! (emphasis mine)
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  Europe’s shrinking money supply flashes slump warning! 
  By Ambrose Evans-Pritchard, http://www.telegraph.co.uk/ 
  All key measures of the money supply in the eurozone contracted in October with drastic falls across parts of southern Europe, raising the risk of severe recession over coming months.
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  The three main gauges – M1, M2, and M3 – have each begun to decline in absolute terms after slowing sharply over the Autumn. The broad M3 measure tracked closely by the European Central Bank as an early warning indicator shrank last month by €59bn to €9.78 trillion, a sign that Europe’s long-feared credit squeeze is underway as banks retrench to meet tougher capital requirements.
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  “This is very worrying,” said Tim Congdon from International Monetary Research. “What it shows is that the implosion of the banking system on the periphery is now outweighing any growth left in the core. We are seeing the destruction of money and it is a clear warning of serious trouble over the next six months.”
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  “This is the first sign of an emerging credit crunch,” said James Nixon from Societe Generale. Banks cut their balance sheets by €79bn in October, while mortage lending saw the biggest drop since December 2008.
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  Simon Ward from Henderson Global Investors said “narrow” M1 money – which includes cash and overnight deposits, and signals short-term spending plans – shows an alarming split between North and South.
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  … for more click here!

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