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Business/Finance See other Business/Finance Articles Title: Snowflake Alert It’s getting too warm to talk about snowflakes. And yet there’s a new snowflake to alert you to… If you’re new and haven’t a clue what we’re talking about, our colleague Jim Rickards has been cautioning us since last October not to “look for snowflakes” but to “watch out for the avalanche.” As you probably recall, Mr. Rickards anticipates a financial crisis worse than 2008. The possible catalysts are many, but the outcome is certain. The analogy he makes in his book The Death of Money is to an avalanche: “The climbers and skiers at risk can never know when an avalanche will start or which snowflake will cause it.” Still, we’re too curious not press him for potential “snowflakes.” And there’s one fast approaching... “The U.K. will have parliamentary elections on May 7, 2015.” writes Mr. Rickards: “The current prime minister, David Cameron, has promised the U.K. an up-or-down vote on EU membership as part of his platform for the Conservative Party. If the Conservatives win enough seats in May to form the new government, and if they follow through on their promised EU membership vote, there could be a strange coalition of Conservatives and Liberals who dislike the EU for different reasons. “If the referendum passes and the U.K. leaves the EU, it will be a historic blunder, because the U.K. will be left alone with reduced linkages to the EU and very little gold relative to their GDP and money supply. This could presage a sterling crisis, which could be a catalyst for a crisis of confidence in all major global currencies by 2016.” With less than a month left until the vote, we’ll keep you posted on any developments. In the meantime, read on for this weekend’s recommended reads... Enjoy your weekend, Peter Coyne for The Daily Reckoning P.S. If you missed my letter to you yesterday, please click here before reading any further. I’ve written a detailed explanation of Jim Rickards’ new proprietary IMPACT investment strategy I would like you to see. If you’re concerned at all about growing your wealth while you prepare for the dollar’s crash, you’ll find this new method helpful. In short, it’s a way Jim’s leading investors to extraordinary 1,000% gains (or more) from the ongoing currency wars -- and it’s safer than how most people invest in stocks. Click here for the full details. If you ever needed proof Jim’s not a “doom and gloomer,” here it is. Post Comment Private Reply Ignore Thread
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