In this Financial Friday episode we discuss the recent Catalan vote for independence, how the sovereign debts incurred by Madrid are a big reason why Catalonians are moving to secede at this time, and how this makes it more likely that Spain will default on its debts… which will lead to a general devaluing of the Euro which will spark a global currency war which could end in a hot war — unless the bankers decide nothing extraordinary is happening in Spain and we move on, business as usual.
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