At last year’s WEC, we warned that the collapse of the euro was underway. We achieved the Yearly Bearish Reversal on the close of 2015, but we did so far below the number. We had been waiting for the rally to retest the 11600 level, which we finally achieved. The ECB monetary policy has been typical banker nonsense and has brought Europe closer to a major financial crash. Draghi has applied the unsupported quantity of money theory and assumes he will simply buy in the debt and the cash will miraculously be spent wildly by consumers. Trading volumes and the velocity of money have been falling in general since 1996-1998. The low to negative interest rate policy of the ECB has endangered pensions and ailing banks, and this is just now beginning to push pensions and banks over the edge. Draghai will not admit he is wrong, so he will blame everyone other than himself.

We are looking at a complete global financial meltdown of the world financial system, which we will focus on at this year’s WEC. The construct of the common European currency is no longer sustainable. A completely new monetary system will be introduced as early as 2018. The fiscal mismanagement of government perpetually borrowing money they have no intention to pay back threatens a complete collapse of the world financial system.

The survivability of the euro has now crossed the point of no return. A daily closing in the cash euro back below 11215 will warn that the high of May could stand as the end of the reaction from the March 2015 low. A monthly closing back below 10520 level would signal that the collapse is underway.

At this year’s WEC, we will be focusing on the pension crisis, sovereign debt crisis, rising pressures for separatist movements, civil wars, and financial chaos. When will it end? We will explain how to recognize it from the signs of the past.