Jim Cramer Predicts Run On Banks In Spain & Italy



By Erica Ritz | From The Blaze.com | On May 20th, 2012

Jim Cramer, a former hedge fund manager and the host of CNBC’s Mad Money, was on Meet the Press with David Gregory this morning where the two discussed Europe’s economic woes and the worldwide ramifications of the disaster.

“I’m predicting bank runs [in] Spain and Italy within the next few weeks.  Without a coordinated policy, there is going to be financial anarchy in Europe and [it's] going to cause a slowdown worldwide, China and here.”

Watch the interaction, below:

Just a few days ago, Cramer was discussing the run on Greek banks and how it would become a “slippery slope.”

“This is not Argentina and Brazil in the 80′s,” he said, “these are big countries.”

The Street TV, which conducted the interview, summarized: “Our Banks Can’t Outrun European Banks.”

This article was originally posted at http://www.theblaze.com/stories/financial-anarchy-jim-cramer-predicts-a-run-on-banks-in-spain-and-italy-within-weeks/

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About The Author: RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with nearly five years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.