So what's the big deal? Greece is not even part of our banking system. Well, sort of... They are part of the European Economic Community and use the Euro for their currency. So what's that all about?
It seems that the Greek government likes to give-out a lot of free things to its citizens. AND, their citizens like free stuff in the form of entitlements (much like what we are doing here in the USA). The only problem is that the Greek government doesn't earn any money and they cannot print it either. Instead, they rely on folks to pay taxes. However when spending goes way past the income coming into the government, then the government can't pay it's bills (loan obligations). Governments like this go broke. So how do they pay their creditors?
Now the Greek government is planning on STEALING money in banks put there by depositors and use depositor's money to pay the government obligations. That's theft and they ARE going to do it. This is likely to cause civil unrest. Greek citizens are already stockpiling food (PREPPING) and stashing as much cash as they can get their hands on. Their future looks quite bleak. Riots are coming too.
So why worry about Greece? Because our turn is coming America. Our government leaders have ignored our over spending and wasteful hand-outs. We are spending much more than we are receiving in taxes and our trading is also on the negative. Our government keeps on printing money out of thin air causing it to become worth less and less. Sooner or later, our money will become worthless.
If you have any savings in the bank the FDIC Insurance will NOT protect you when the government decides to STEAL it from you. The warning signs for the US are there if you pay attention. Our economy could collapse over night if the dollar is devaluated or is NOT used as the international currency for global trade.
So what's the big deal there? The International Monetary Fund (IMF) just announced that they would invent a NEW currency to use for global trade on October 25th this year. That's a pretty clear heads-up America. They are dumping the dollar for some other currency. What do you think that will do to YOUR bank accounts and YOUR savings? What will the American dollar be worth on the world-wide market? Who will want dollars any more? Why accept dollars when there is a new preferred currency?
Hold your hats. The CRASH is coming America. Are you ready?