What am I talking aboutAfter all, as you can now see for yourself in the news, I was pretty close, and the crash is now very near. Greece (10 mio people) is de-facto bankrupt. Spain is much bigger and already there (50 Mio people), and Italy (60 Mio people) also announced they are in trouble. This now sets off an avalanche which is unstoppable. As written before: In the last 4 years since 2008, where everybody learned that this was coming, nothing, really nothing has been done by the politicians to stop this. Instead, we simply gave all our money to the banksters. All the billions of euros paid never helped anyone, except the people 'working' in the banks.
What will happen nowIt's too late now for creating a solution for this fiat-money problem. Politicians will continue playing the game in order to delay the crash, but it's all too late. Banks will crash. States will. People will loose all their money. And their jobs. A few currency reforms if it goes well, political revolutions or even war if it goes bad. Don't believe a second the people telling you that this will not happen. Look for example at the Italian bank 'BNI': Last week, from one day to the other, without warning, they simply closed. (german article about this here) People are unable to access ATMs or use online Banking. They can't get to their money. It's reality. Already now. BTW: Did you see any mainstream media report about this? Probably not. What do you think why not?
What you can do nowWell, if you haven't planned for this years ago, it's probably even too late for you now. Since it's probably very likely now that you will loose all your money, take it from the bank. If you don't trust paper money, maybe also buy something nice with it which doesn't loose its value that fast. Like a car. Or something you like. Some people buy gold or silver with it. Apart from that: Yes, you are fucked now, as we are all. You can thank our politicians and the banksters for that.
Yes, sorry for this negative blog post. But it's a bit depressing seeing people talking about this crisis, telling you that nothing will happen, because the politicians just sent $x billion euros to country $y.
ten comments, already:
I would like to say that you are wrong and this is nonsense. But you are probably right.
turbo_john - 13 06 12 - 16:42
It’s in the mainstream media. For example the discussion about Lagarde and her three month deadline to save the euro.
The riling against the last post may be caused by the more simplistic views expressed there. This happens again here, too. I would advise you to express yourself less in superlative terms and to use causion. Only politicians simplify and polaterise their optinions, in order to gain voters through mass media.
Example: Banking efficiently allocates money and is not evil in itself. Of course they failed in exactly that function, but this happend through wrong incentives and regulations. Healthy banking is necessary for our economic systems and that is why they saved the banking system. The current problem is that it is still not functioning correctly.
Fiat-money is not the problem, the problem in Europe is quite contrary, that Greece, Spain, etc. do not have their own money.
And there are solutions a plenty, but as Junker said: We all know what we have to do, but if we did it we would all lose in the next elections. But soon they won’t have a choice :).
tobias3 - 13 06 12 - 17:39
Im a student with a temporary student loan. I dont really have any money in any saving accounts. Let the crash commence :P
Alky - 13 06 12 - 17:43
Should I consider myself evil for not caring about all of this, just because I live in a already fucked-up third world country?
Nostaw - 14 06 12 - 14:14
The world’s economy is a large scale magic trick:
We have x bucks globally. Let’s lend all of it and get it back with any % of interest. Where does the extra money come from? It’s an illusion, responsible for the upcoming struggle.
hermitC () (link) - 14 06 12 - 23:20
Economy see’s the world as a large neverending circle, yet no one has seen the black hole in the middle. Let me explain: Economy doesn’t work anyhow, How can something were businesses want more money then they are prepared to pay to their employees who are expected to power the economic system through buying from companies ever work? Atleast thats the trouble, people who are asked to buy from the producer in proportion more than they are paid who are actaully however directly/indirectly paid by the producer forms a loss point in the cycle… How often will the economy have to be re-set?? Every +-100 years? WE NEED A NEW SYSTEM!
rigo () - 16 06 12 - 16:57
Dig more nuggets…Time to dig for gold. Or Farming as in agriculture. Its money in the ground.
dreamcutter () (link) - 16 06 12 - 17:21
Firstly, you really don’t understand finance at all, if you’re writing this sort of rubbish.
Secondly, if you really believed what you were writing, you’d fill your house with cans of food and bottles of fresh water and medical supplies and getting as many weapons as you can find, because the sort of global financial catastrophe you’re talking about will make Somalia look like a nice place to live.
But no, you’re playing Gratuitous Tank Battles and making uninformed comments on your safe little blog. So either you’re not really that worried, or you’re just very, very dumb.
General Zod - 17 06 12 - 00:19
General Zod, if you understand it so well, why don’t you explain what is happening instead of just ranting?
IMHO, Niko is right. Something bad will happen soon and it will hurt us all (us = lower and mid class people who’re always fucked by that 1% high class that owns 90% of all wealth). You don’t need to be an economics professor to see that. The system has reached it’s limits long time ago. The first cracks appeared a few years ago and soon it will shatter completely.
Lenx - 18 06 12 - 20:24
The first cracks appeared 80 Years ago already! The Economic system as it stands will need to be completely rebuilt. The current one is built on 18th Century thinking!
rigo () - 18 06 12 - 22:42