Author: Steven Neiland
Published:

Warning: This blog entry was written two or more years ago. Therefore, it may contain broken links, out-dated or misleading content, or information that is just plain wrong. Please read on with caution.

What if tomorrow the banks collapsed and you found that all the money you had put away in savings was now gone? How would you survive? How would business's continue to function?

Reality Happens Even If You Deny It

You may think I'm being a doomer even asking this, but its a scenario that everyone living in Greece, Spain, Portugal, Italy, Ireland, indeed the whole EU are now facing. Nearly all my friends and family back home are telling me the same thing. That they are keeping as little money as possible in the banks because as my own mother put it, "if its in the bank there is no guarantee it will still be there if things fall apart".

Im not exaggerating when I say this could happen (although I wish I was). We have seen time and again how money put into financial institutions just disappears, how pensions funds such as 401k's and the like have either been underfunded (read the promised money was not put in them) or had value wiped out during stock market volatility. Our recent history is full of financial disasters, indeed we have come to almost expect them.

This Is How Banking Operates Today

What people in Europe and around the world are realizing is that your money is not safe in banks. Yes there was a time when putting money in the banks was safe, however these days banks are just casinos, only the players (the bondholders) are playing with our money.

I can think of no better explanation of how banks operate today than this clip from SouthPark.

The Government Is Not Here To Help

The first thing you must remember as you ponder this question is that government is a self serving entity. It is not there to help you, it is there to ensure its own survival.

If you've been following whats been happening in Greece you will know that the government there has been doing everything to try raise more revenue while ignoring massive street protests. Its even raiding private bank accounts if they "suspect" you might have unpaid taxes. The burden is then on you to prove that you don't owe taxes if you want your money back.

The sad fact is that people are now dying in Greece as a direct result of this financial disaster. Is it any wonder the people over there are getting angry?

Coming Soon To A Country Near You

I've said it many times and I'll say it again. Greece is just the beginning. What happens in Greece today will eventually happen in other countries, the only question is when and how bad.

I Don't Have An Answer

I wish I had an answer as to what to do to avoid this nightmare, but I don't. At least I'm not alone in not seeing a solution.

Our politicians and (mainstream) economic advisers did not see all this happening. And yet these are the people we are listening to to try solve this. Well folks the reality is they don't have any solutions either, other than making us all debt slaves to the IMF that is.

So what if the worst case scenario actually happened and the banks really failed? Honestly I don't know even know that there is an answer to this. All I know is that things are getting worse and will continue to deteriorate. Be safe my friends.

What Do You Think?

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