Watching the Greek crisis unfold is a wake-up call for everybody. When a government can close the banks and limit your access to your own money, then it really isn’t your own money, as it’s not under your control.
All this is going to end badly, and not just for Greece and the Greeks. Systemic unrepayable debt is the situation in all the major Western economies, and it’s only a matter of time before other governments are faced with the same problems.
What’s waiting in the wings of course (especially after what happened in Cyprus previously) is the notion of the bank “bail-in”. In other words, when a financial crisis hits your country, you’ll be tapped on the shoulder and your bank balance will receive a financial “haircut”.
The only conclusion one can reach is that if the money you have in the bank can be “locked” away so you can’t get it, or even worse, can be siphoned off to pay off government debts, then that money is not really yours at all.
What’s the solution?
Personally I believe it’s Bitcoin. Bitcoin represents a breakthrough in the idea of money. Instead of money being something central banks (with monopolies granted by governments) can create out of thin air and issue as debt, Bitcoin is money created outside the rotten financial system.
You could even call it “people’s money” because it arises and is managed without any central authority, without any company, without any bank and without any government.
My advice, given what we see happening in Greece, would be to get up to speed with Bitcoin now.
A good place to start is to download my free report:
Don’t say you weren’t warned!
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