What’s going on in Greece right now should serve as a warning sign for the entire world.
For the people of Greece, it’s far past time to prepare for the coming storm. Walk down any street in Greece and you will see people panicking, trying to buy up last minute supplies, or waiting for hours in line at an ATM that stopped spitting out money days ago. In Greece, the global financial meltdown has hit center stage.
— Ranbir Singh Sidhu (@SSRanbir) June 27, 2015
Greeks Shocked at what’s happening.
Stunned Greeks, or at least the ones who ignored warnings, sit overwhelmed as the country’s banks shutdown, super markets are stripped bare by panicked and unprepared residents, and the country plunges into crisis. The deteriorating conditions comes as Greece is about to default on their debt.
Debt talks between Greece and its creditors fell apart last Friday, after Greek Prime Minister Alexis Tsipras announced the country would be holding a national vote to decide on whether the Greek people would pull out of the European Union or be willing to accept reforms in exchange for more bailout aid.
In preparation for the chaos, Greek banks and the stock market have completely closed. There was also a 60 euro ($67) limit at ATMs – all of which have pretty much run dry.
— Pedro da Costa (@pdacosta) June 29, 2015
— Reuters Top News (@Reuters) June 29, 2015
The Straw the Breaks the Camel’s Back?
The Greece default has pushed the European Union and euro zone into uncharted terrain; it’s also sent shock waves through the global financial markets as worries mount that this crisis could spread throughout the global financial system.
For many, what’s happening in Greece is just a precursor to what they say will spread throughout the world’s markets. The world will be unable to fight the next global financial crash as central banks have used up their ammunition trying to tackle the last crises, the Bank of International Settlements has warned.
The BIS, the so-called central bank of central banks, said that the current chaos in Greece showcases the kind of “toxic mix” of private and public debt being used as a solution to economic problems throughout the world. They warned that central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies.
Why are we still in denial?
This Greek crisis has been looming for quite some time, yet the world is acting as if this is some kind of weird anomaly that just sprung up out of the blue. But maybe, that’s just because they don’t want to admit that the Greece Crisis is a sign of what’s to come.
The entire system is one big house of cards. Take the $18 Trillion in debt here in the United States – an amount that makes the Greece debt look like child’s play – how long do you think our house of cards is going to stay upright?
The Canary in the Coal Mine
Shocking, right? Wrong! In many ways Greece is the proverbial canary in the Coal mine. We are witnessing the economic reality of what years of piling on debt, uncontrolled public welfare, and unfunded pensions and government programs do to a country. Unfortunately, here in the United Sates we have taken debt, public welfare and unfunded government programs to a level that is, quite simply, setting us up for disaster.
If you think we are somehow protected from this type of chaos, think again. You need to take a serious look at what’s happening in Greece, because that could be our future.
Take note to what is happening to these people’s bank accounts, their grocery stores and their infrastructure. It will give you a very good idea of what you should be preparing for.
- Think your money is safe in the banks? If you don’t have cash on hand, during an economic collapse you are out of luck because you will not be able to withdrawal it from the banks. As witnessed in Greece, once the shit hits the fan these banks quickly close their doors and your money is as good as gone.
- You will be unable to buy supplies. This is why I keep talking about emergency preparedness, and this is why I spent so much time talking about economic preparedness in my book. Once the crisis hits you’re going to have to make do with what you have. Beside the massive lines at ATMs that no longer have money, people in Greece are also lining up at gas stations and in grocery stores trying to buy up whatever they can get their hands on.
- Chaos will eventually spread throughout the streets. You must be prepared to defend yourself because when the ATMs shutdown, the delivery trucks stop running, and people figure out how truly screwed they really are, THERE WILL BE CHAOS IN THE STREETS.
What can you do to prepare for the collapse?
I devoted an entire section to financial preparedness and the coming collapse in my book, The Ultimate Situational Survival Guide. I also outlined some warning signs and steps that you can take right now in my article on preparing for an economic crisis.