UniCredit is Italy’s largest bank and has many operations in Eastern Europe. It was formerly Credit-Anstalt Bank and was one of the direct causes of the Great Depression.
In May 1931 the bank failed which caused Europe to go off of the gold standard. The dominoes fell one by one and eventually it led to the US going off the gold standard in 1933.
Officially Nixon announced you can no longer redeem gold for dollars in the 1970s but for practical purposes the US was off the gold standard in 1933.
How this affects the Forex markets is that UniCredit is Italy’s biggest bank. Italy and the Spanish economy are likely to collapse within the next year.
The collapse of these 2 massive European economies will cause the euro to fail as Europeans lose faith in the safety of their deposits in European banks. They’ll see a “run on the banks” like what has happened in the past when people lose faith.
It’s a mad scramble to “get what’s mine”.
What this means for you right now is there are massive opportunities to take advantage of trading against the euro. The mainstream press is not yet reporting on this so there are opportunities for massive profit on the way down for the euro.
You can always make more on the way down than the way up.
Things tank like falling off a cliff. Things rise in a bull market at a slow and steady turtle wins the race pace.
Volatility will be high so…
It’s best to have a software to manage this for you because fapturbo takes your emotions out of the game allowing you to lock in mechanical profits. Taking the emotion out of trading is one of the biggest factors in success.
