Tom Luongo's thought is that this system is breaking down as the major factions have split and now the Fed is no longer willing to backstop the global eurodollar system like it has in the past.
This would be earth shaking as it would result in the collapse of the Euro system and a tsunami of capital into the US. It would also mean that the EU would likely politically move towards totalitarianism to preserve their power and the US would not follow.
Tom Luongo's thought is that this system is breaking down as the major factions have split and now the Fed is no longer willing to backstop the global eurodollar system like it has in the past.
This would be earth shaking as it would result in the collapse of the Euro system and a tsunami of capital into the US. It would also mean that the EU would likely politically move towards totalitarianism to preserve their power and the US would not follow.
It would mark the end of a long era.