Just to add to the ink needs of European central banks, the Iceland met office reports that it has recorded a small earthquake at the Katla volcano. With Europe already pretty much bankrupt, and the only reason why Europe is still quoted being due to ECB, IMF and Fed backstops, the last thing needed by the troubled continent is the next major volcanic explosion to terminate airline travel indefinitely. As earthquakes tend to not be an indicator of volcanic stability, the most anticipated volcanic explosion in human history may finally be a fact quite soon. We are confident the HFT lobby will somehow determine that volcanic ash clouds add liquidity to the market. Stay tuned.
From Modern Suvival Blog:
On May 17, 2010 08:32 UTC, The Iceland Met office indicates that a small earthquake has occurred at the Katla location. In what could be an early indication of the event that is expected to occur (an eruption of Katla), a small earthquake is reported at the site. Although a single earthquake is not a precursor of an eminent eruption, it could be the first ’sigh’ of the awakening powerful giant.
Historically, Katla has erupted after the eruption of it’s close neighbor, Eyjafjallajokull, which first erupted on April 14, 2010 and is ongoing at this moment. Magma channels beneath to the two volcanoes are thought to be interconnected. A Katla eruption would likely be about ten times as powerful at the Eyjafjallajokull eruption and could cause worldwide disruption while expelling huge volumes of volcanic ash into the stratosphere which would circle the globe potentially for years, depending upon the magnitude of the eruption.
Not to be alarmist, but have you started your food storage plan? Basic survival preparedness is a personal responsibility that was simply a way of life of our ancestors. Let’s not forget how.