Banking CRISIS In San Marino! - What This Means For The REST Of The World!
In this video, I talk with author and economic analyst John Sneisen about the banking crisis in San Marino.
San Marino is a tiny country, but a beautiful country all the same. For years, people have parked their money in the landlocked country within Italy. Well, despite their size, they are home to 6 major banks. These banks are are crippled due to bad debts. No one is surprised, but all the same the IMF may step in with US $350 Million (or 300 Million Euros) to shore the banks up.
This is a nation of 34,000 people. That's right, smaller than most cities! But this banking crisis signifies what's going on throughout the world on a greater scale. The country never recovered from the financial crisis a decade ago, but then again, neither has any country. The difference is, most countries prevail under the temporary guise of successfully bullish, but under that thin veil is a massive debt crisis that will end in history's largest collision course as the monetary system and the stock markets crash globally. It's a collapse the likes of which the world has never seen.
As the world reserve currency starts to approach a massive recession and currencies are failing throughout the world, the power shift is also happening in China, India, Germany, Russia and several other countries. Central banks are desperate and the stock markets are propped up on artificial investor confidence but no true fundamental value on a great scale.
The banks across the board are insolvent and their cash to deposit ratio is astonishingly low. Bubbles are growing throughout the world in many industries and instability spreads far and wide throughout the populace as poverty grips many. The derivatives bubble globally is at the multi-quadrillion level. The pension bubble is set to hit 400 trillion dollars by the year 2050 which is entirely unsustainable.
But there are solutions. self sustainability. Independence. Decentralization. Wealth insurance. Individuals must take it upon themselves to educate themselves on these matters. You control your money, your money does not control you. Protect your purchasing power and don't be afraid to be over prepared. It's better than being under-prepared. Don't be dependent on those that are dependent on your dependence. It's a recipe for disaster.
See the FULL video report here:
Stay tuned for more from WAM! Don't forget to Upvote & Follow!
If you like what I do, you can donate to my Bitcoin, Dash or DigiByte addresses below! :)
Bitcoin:
Dash:
DigiByte:
Sometimes I wonder if the monetary system really works. Perhaps it does, It seems like the people with higher influence have the upper hands.
I have also wondered how a currency is valuated. I understand partly supply and demand . How else.
All what I have learned make no sense . I will never find a proper answer .
thanks for sharing
Wow guys, never thought that San Marino is in this bad situation, i think very few people here in Italy know about it and off course the media doesn't talk about it. I also been recently in Greece after few times after the crysis and the situation (at least in Athens) is in very bad shape and is worse than my previous visit. I'm not sure if the Greek bailouts has been a good idea from EU or if it made things worse.
Thanks for your works
Signs of a dying monster .