Author Topic: The Greek Fiscal Crises: Lessons for All of Us?!  (Read 1783 times)

0 Members and 1 Guest are viewing this topic.

Offline KeepOnTrying!

  • Supporter
  • Trade Count: (+23)
  • Hero Member
  • *****
  • Posts: 1732
  • Karma: 54
  • Gender: Male
The Greek Fiscal Crises: Lessons for All of Us?!
« on: June 29, 2015, 10:22:12 AM »
The Greek Fiscal Crises: Lessons for All of Us?!

Greek banks have been ordered shut for one week. Online withdrawals from Greek banks are being controlled and rationed. Transfer of money overseas has been banned by the government except in a few instances, for example, well defined commercial activity.

Irrespective of the long and short-term causes of the Greek fiscal crises the reality on the street is that people are being prevented from accessing their hard earned income and benefits. More importantly people's livelihood is being threatened. People who have played by the rules and saved diligently are facing the possibility of a wipeout or devaluation of their life savings and the fruits of their endeavor. It will be worse if the country decides to leave the Euro or is kicked out of.

These happenings and possible negative effects on the average Greek citizen are unfortunately not unique to Greece. Such has happened repeatedly over the years and in other countries. It is also happening in various forms in real time in different countries; inflation has the same effect on your cash savings, and governments regularly devalue their currency.

I have not necessarily subscribed to the school of thought that all disposable income should be held as precious metals. However, the thought of waking up to hear that money you worked hard for and saved is now in jeopardy is very unsettling. If the threat becomes real, large populations suffer.

I would like everyone to reflect on this and determine what needs to be done on an individual basis to safeguard your life's earnings. Solutions should be rational and depend on the country you live in and what your country's economic prospects are and how you are governed. Extreme reactions are likely to jeopardize your fiscal and personal welfare. Lugging around tons of silver and gold can attract the wrong type of attention from your neighbors and passersby!

My heart and prayers go to the people of Greece at this time of uncertainty.
KeepOnTrying and Never Give Up!
That lion is also after you!

Offline pandamonium

  • Supporter
  • Trade Count: (0)
  • Hero Member
  • *****
  • Posts: 2103
  • Karma: 28
Re: The Greek Fiscal Crises: Lessons for All of Us?!
« Reply #1 on: June 30, 2015, 08:27:05 AM »
The Greek crisis will soon engulf the West.   The world knows this so that is why they signed on w/ China's AIIB banks that come online this fall.    China may be a developing country but their economy is now in second or maybe first place.   China does not want the TPP, that is being fast tracked in the US.   The West is full of derivatives or weapons of financial destruction.   Of course, China has the gold.......we all know this.......all we can do is try to prepare....

Offline KeepOnTrying!

  • Supporter
  • Trade Count: (+23)
  • Hero Member
  • *****
  • Posts: 1732
  • Karma: 54
  • Gender: Male
Re: The Greek Fiscal Crises: Lessons for All of Us?!
« Reply #2 on: June 30, 2015, 05:43:37 PM »
The Greek crisis will soon engulf the West.   The world knows this so that is why they signed on w/ China's AIIB banks that come online this fall.    China may be a developing country but their economy is now in second or maybe first place.   China does not want the TPP, that is being fast tracked in the US.   The West is full of derivatives or weapons of financial destruction.   Of course, China has the gold.......we all know this.......all we can do is try to prepare....
But how about practical steps? What are the commonsense proportions of your income/wealth to save/invest in precious metals, stocks, cash, property, undeveloped land, timber forests etc etc? We can't just have 100% in gold and silver! What do you think?
KeepOnTrying and Never Give Up!
That lion is also after you!

Offline pandamonium

  • Supporter
  • Trade Count: (0)
  • Hero Member
  • *****
  • Posts: 2103
  • Karma: 28
Re: The Greek Fiscal Crises: Lessons for All of Us?!
« Reply #3 on: July 01, 2015, 08:14:36 AM »
I read not 100% into gold/silver but hold alot and do not store in bank lock boxes.   Most everyone i talk to are burying their bullion as the bankrupt government is not trusted.   Land in rural areas is very important.  Get out of the cities or have a escape property that are selling today.   Here is my shameless plug.   Oroville realty WA,  Osoyuse lake front 18.98 acre undeveloped and zoned for apts w/ producing mature orchard.   Canadian resort area and could be a Chinese community.   Only natural desert that goes 200 miles into Canada.   I am part owner and buyer can buy out our shares instead of a typical sale that takes months.   Most in the cities that grab a clue and can afford it are wanting a escape home.
So rural property is selling as the wise prepare.   That is what i see.   I would get out of stocks......my buddy has much precious metal stocks and he is nervous as it is all paper.......Why own lots of MCC or bullion when you are stuck in the cities?   How do you protect it?   It makes no sense........the demand for rural property can only go up.....