Bank Holiday Buzz

Schultz was recently awarded newsletter of the year by CNBC and is no hack economic forecaster.

IMF: If US does not increase its exports then a dollar devaluation needs to be looked at.

The real potential for bank holidays and runs can not be ignored.

Latest Schultz Shock: A 'BANK HOLIDAY'
Commentary: A leading newsletter paints a grim picture of the future

By Peter Brimelow, MarketWatch

In its current issue, HSL reports rumors that "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."

Yes, yes, it's paranoid. But paranoids have enemies -- and the Crash of 2008 really did happen.

HSL's suspicion: "Another FDR-style 'bank holiday' of indefinite length, perhaps soon, to let the insiders sort out the bank mess, which (despite their rosy propaganda campaign) is getting more out of their control every day. Insiders want to impose new bank rules. Widespread nationalization could result, already underway. It could also lead to a formal U.S. dollar devaluation, as FDR did by revaluing gold (and then confiscating it)."

Read More Here: http://www.marketwatch.com/story/schultz-paints-bleak-picture-of-future