banks Wake up and smell the collapse: Greece shutters banks for 6 days... no more withdrawals... panic grips the Eurozone... total meltdown approaches

Wake up and smell the collapse: Greece shutters banks for 6 days... no more withdrawals... panic grips the Eurozone... total meltdown approaches

(NaturalNews) The bank holidays have begun in Greece as the banks are now shuttered for the entire coming week. As Sky News reports, "The drastic move comes after people rushed to withdraw their cash amid panic ahead of the referendum on bailout terms."

Greek citizens are now "hoarding gasoline and groceries," reports the New York Times, and long lines are the new norm at ATMs and gas stations.

On the brink of a meltdown
"Greek banks were on the brink of meltdown last night after the shock announcement that its crisis-hit government would hold a referendum on the terms of a fresh international bailout," reports the Daily Mail. "With fears growing that the country's banks could grind to a halt this week, the Greek authorities are expected to consider imposing capital controls as early as tomorrow morning."

The Greek system of unlimited debt spending and endless retirement benefits for government workers has just hit a brick wall. The money has run out, and there are no more lenders willing to flush any more assets in order to fund Greece's wildly unbalanced budgets. Debt payments are due on an ever-increasing schedule, and Greece simply doesn't have the money to pay.

"The moment of truth looms. Greece now teeters on the brink of bankruptcy and the eurozone on the verge of what was once unthinkable - losing one of its member states," writes the Daily Mail.

"If it stops extending loans, then Greece's banks will quite simply run out of cash, and crisis control may have to be imposed. Cash withdrawals may be restricted or even stopped, while customers could also be prevented from moving money electronically out of bank accounts."

The Eurozone house of cards begins to collapse
What's clear at this point is that the Eurozone's house of cards is about to start collapsing. Greece may be the first to fall, but it won't be the last. It is the interdependency of international banks that now causes local events to unleash international consequences.

All the government operatives, as usual, are lying to the public by assuring them that all their bank deposits are incredibly safe and secure. The public has been urged to stop trying to take their money out of the banks, but even that propaganda is no longer necessary as the banks have been shut down. On these so-called "bank holidays," you can't withdraw money, transfer money or even process bank account checks.

No one can honestly say they didn't see this coming, of course. The problem with Big Government -- and socialism -- is that sooner or later you run out of other people's money.

Greece, it seems, has run out of so much of other people's money that new groups of "other people" are scrambling for the exits.

Watching this play out is going to be educational for all of us, because whatever the governments and banks decide to do in Greece this year, they'll use the same confiscation tactics against the rest of the world when the larger-scale global debt collapse unravels.

Watch my popular mini-documentary for more answers. It's called the "Systemic Market Crash explained."




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