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Europe is cracking

The rats are fleeing from France – 75% tax on the rich isn’t gonna be to their liking.

So stocks down (even though they are controlled by the Fed and ECB, the banks don’t want to see them supported today so they drop).

If European banks go down, Aussie goes down because most of our offshore funding comes from Europe.  Australia is like a leveraged play on the European banking system.

So we are looking vulnerable right now, just as the European banking system is looking vulnerable right now.

What would I do if I cared?

Short the Aussie.  All in Swiss or even US dollars.

Get out of the Eurozone.  It’s coming down.  Big Time.

Get out of Australian assets, that are massively overpriced, including real estate.  Rent.

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