In fact, it has been called the “Italexit” because it could mean Italy’s exit from the EU.
Some have even used the lighthearted name “Quitaly,” even though the consequences will be anything but lighthearted.
As The Wall Street Journal recently reported:
“The likely beneficiary if the referendum fails: the populist Five Star Movement, founded by comic Beppe Grillo, which has surged in the polls and whose politics reflect the breadth of anger among Italians at their political class”
- Falling Domino #1: BREXIT
- Falling Domino #2: Italy’s Exit
- END RESULT: The total collapse of the European Union
Whatever you call it, the shockwaves from Italy’s exit from the EU will almost certainly affect your savings account, your stock portfolio, and your cash stash.
Social Security, 401(k)s, pension funds, and even your gold – it’s ALL in play.
Please don’t think that you can ignore this just because you live far away from Europe. For unprepared investors and retirees across America, this economic crisis could turn into a disaster of epic proportions.