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Will This Weekend Spell End of EU?

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    Keith Fitz-Gerald of Money Map Press discusses whether Greece will remain in the EU.

  • Duration 3:53
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It gets downgraded Greeks get ready to vote on staying in the Euro -- all not.

And the G-20 meets next week joining the company from Portland is -- -- -- with money map press right case let's get right -- it.

I say that if there is not a massive bailouts.

All hell breaks loose.

By the -- part of next week a -- -- Absolutely I'm surprised -- has already frankly Stewart.

What do you think is the chances that we'll get that big bailout.

Well I think it's a foregone conclusion at this point politicians are gonna do what they do best the world over which is chicken mountain pass the can down the -- kick the can down the road whatever expression you wanna use.

But do you think they will indicates that we're gonna get a bailout -- full widow and have a stock market the goes way down come next week.

I think that's their hope I think that the only the only question really is in what order this occurs I think Greece chickens out I think Germany.

The best thing Germany should do is voluntarily leave the EU.

Because there's no reason the world Germany should sacrifice its economy in the face of all this.

Yet the -- the G-20 wants their hands out give Germany you know -- to have everybody take Germany standard of living.

Here in the US I think ultimately the Fed's gonna get involved idea unfortunately believe we're probably gonna open that window help bailout Europe I mean this is gonna be -- the only question is -- so ball on listen to Kevin to what you say and and Europe is brought up on the age I mean there's no no more indecision I mean this is -- it as of tomorrow with the about above the Sunday the big Greek vote -- the G-20 meeting.

This is it the moment has -- has it.

Yes yes it has absolutely it has in in unfortunately they're gonna do the same thing that they've been doing for the last three years which is they're gonna meet.

They're gonna slap each other on the backs can gradually each other for having since the end of talks.

And hope -- rumors carry the day unfortunately we are reaching the point where that fire is beginning to boil the water.

I think here on finally to their credit they've begun to realize that when they do anything about it is yet another question okay hold on for a second -- I've got talk -- -- still don't think I don't wanna know the a.

You -- has YouTube political questions isn't it.

More likely case that the Germans are kept.

In the process in the deep and -- to -- month away.

And that the American government.

Does everything it can to avoid a bailout before November.

Election you -- avoid a crash before -- election -- yes avoid a crash and try not to put.

Too much money in in -- to expose.

At the same time.

I think politically that's certainly the goal the question I have is what's the Fed's liquidity gonna window look like that -- but I I have -- -- this morning.

What's the Fed's liquidity window going to look like.

Do we implicitly support them or do we go through the back -- -- provide dollar based liquidity I don't know the answer to -- yet.

The danger is that the European banking system grinds to a halt because they simply don't lend to each other let alone around the world.

All right Doug -- -- the -- reaction the political reaction in America if our federal result of does indeed -- on the part of the bailout in Europe.

-- exactly right if Europe grinds to a halt.

We will grind to a halt and it could hurt President Obama at the same time if President Obama.

Bails out the Europeans and gets attacked by Mitt Romney in the Republicans for doing that.

The political impact could be almost as bad OK one last one to your case would you -- install some if you are trading kinda guy.

Would you own stocks this Friday afternoon going to a weekend likeness.

Yes I would absolutely at this stage in the game the thing you don't wanna do is bail out what you do wanna do is make sure you have your protective stops in place.

Get your pencils ready because there's a good possibility many good companies are gonna get put on sale.

In history shows that you buy into massive sell off not run the other way I'm very interesting Keith FitzGerald always a pleasure thanks very much and.

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