greece – the paradise paradox

The Episode:

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The Story:

Many people poking around the Internet have been acutely aware that something big might happen around September 13th or September 23rd 2015, having watched Jeff Berwick’s Shemitah videos or read “The Harbinger”, or having calculated the days between financial collapses in the Wall Street “Seven Year Cycle”. Then the dates passed, and, depending where you were, it might have seemed like absolutely nothing happened. Another December 2012, another non-event, no end of the world and no financial collapse. However, when we look at the news a little more closely, we can see that something did happen, and the events may have put the world economy onto the edge of a precipice.

Sharemarket corrections occurred in the USA, the UK, Australia, and China, among others. Australia’s stockmarket has been plummeting down since April, and on September 29 the ASX 200 took a 3% hit, sending its price down below 5000 for the first time since July 2013. The market recovered, but still seem reminiscent of sudden recoveries that happened right before the Global Financial Crisis really set in.

A few months ago, the Greek government instated capital controls, preventing the flow of money, restricting withdrawals to 66 euros per day. A few days ago, the Chinese government took a similar measure, restricting transactions to 50,000 yuan ($7,800) from October 1st till the end of the year, and 100,000 yuan ($15,600) for the whole of 2016. Capital controls are commonly a desperate measure, an indication that a currency is failing – that too much damage has already been done. If Greece finds itself in such a position, and China finds itself in a similar position, shall we see the same fate for the rest of the PIIGS, and the rest of the BRICS?

It’s a great show, and if you’ve been smart, hopefully you don’t have front row seats, because people in the first three rows will get wet. Could we be heading for the next global financial crisis? We explore this economic rollercoaster on the next episode of … The Paradise Paradox!

[Edit: Kurt said in this episode that it’s not possible to buy physical silver in Russia, but it turns out that is inaccurate. Many Russian banks will sell silver certificates, or allocated holdings, but at certain branches you can also buy physical silver, and there are coin shops and online outlets as well.]