The Floppy spaghetti crash

In March, the Italian public went to the polls to elect a new parliament. It went down in history as a Trump'esque event. The winning party, The Five Star Movement, are a Far Left wing group with strong Anti-Immigration policies and a great suspicion of the EU.

There are rumblings throughout the world at the moment of memories of the Greek crisis, and this could spell really bad news for the Australian economy, but could also mean the revolution of Crypto is finally going to get some real heat.

It appears that Italy are talking about dumping the Euro and going back to the Lira. This is bad, if the Lira was to come back, its value would more than likely plummet against the Euro, leaving the government debt of Italy at a much higher level than it is today. Then we would once again have another Greek style IMF Bailout on our hands.

The greek emergency of a few years ago had major implications on the world economy, causing currencies to plummet in value and billions wiped off the worlds stock market. In comparison, the Greek economy is only 1/3 the size of Australia's economy. The Italian economy is 1.5times the Aussie economy. So if the Italian economy was to crash, it would send shock waves throughout the world.

Throughout the world, saving investors and especially Italians and Europeans will be funnelling their money into unaffected currencies such as bitcoin. With more people moving away from the fragile Fiat economy, the revolution of Crypto will be getting more fire under it and should be getting prepared for a massive explosion of not only institutional investors, but also economic refugees that are trying to find salvation from failing economies. I'm hoping that Steemit and EOS can take centre stage during this revolution and raise the profile of both to be King and Prince of the Cryptos.