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Illuminati Silver : Greece Crisis or Grexit - No need to panic Video

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Welcome to Illuminati Silver, is this a Greece Crisis or Grexit?

Today is Monday 29th June 2015 and we weren’t expecting to issue another video so quickly after yesterday’s but the situation in Greece has taken a turn for the worse and before the fear mongers jump on the Internet and scream "Buy Gold and Silver Now – the economic collapse is upon us", we wanted to put the situation into perspective.

This is what has transpired:
 On Friday evening: Greek prime minister calls referendum on terms of new bailout deal, asks for extension of existing bailout
 Saturday afternoon: Eurozone finance ministers refuse to extend existing bailout beyond Tuesday – that is tomorrow.
 Saturday evening: Greek parliament backs referendum for 5th July
 Sunday afternoon: ECB says it is not increasing emergency assistance to Greece
 Sunday evening: Greek government says banks to be closed for the week and cash withdrawals restricted to €60 a day.

The temporary closure of banks in Greece, and the introduction of capital controls, is bad news for Greece. The Greek people will have less money to spend and business less to invest; so an already weak economy will probably return to deep recession. The TV coverage of queues outside banks will only lead to deepening the fear factor but remember, the media needs crisis like this to sell advertising and gain viewers.

Stock markets around the world have closed down between 1% and 5%. But is it the time for panic?

We believe No.

Firstly it is unlikely that the European Institutions will want Greece to leave the single currency and the EU – so you can expect brinkmanship right up to any deadlines set, but we believe there will be a settlement.

Secondly, there is the argument that if Greece did leave the Euro and readopted the drachma, it could deal with its financial difficulties by devaluing the currency. A cheaper drachma would make Greek goods more attractive, boosting exports and creating jobs. A small amount of inflation would also ease the country’s debt burden. Not ideal but better than the current situation.

However, we must not forget that the EU is a political project as well as an economic one and it is unlikely that the EU Authorities will wish a member state to leave and certainly will not want it to run into the hands of Russia for assistance.

So what does this mean for the price of gold and silver? Well as we record this, gold is up $3.50 on the day and silver is down 7 cents on the day. It must be remembered that this crisis has been, to a large extent foreseeable and that market reactions will not be as great as some pundits will paint it to be. Yes there may be a small spike in gold and silver prices over the coming days as the negotiations iron out but rest assured they will normalise and continue their descent into the summer months.

So ignore the fear mongers who will now appear, and the doomsayers, but at least take away the lesson, that it makes sense to keep some cash at home or where you can gain access to it outside of the banking system.

We hope you have found this video helpful and informative, and would appreciate it if you would give us a thumb up or down, comment and if you haven't already done so please subscribe.

First Video - Illuminati Silver - Silver prices are going to fall further:
https://www.youtube.com/watch?v=cTvnJhngeDw

World Silver Report 2015:
https://youtu.be/nGujzlP4u0I

Silver prices to fall - Summer 2015:
https://www.youtube.com/watch?v=BdwnugbWma0

Illuminati Silver - advice to New Gold and Silver Stackers:
https://www.youtube.com/watch?v=OTjGk4efxnM

The Truth about Costs of production and Most Silver Miners are not going Bust
http://youtu.be/Q_BNCyZ9LOw
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