Monday, July 6, 2015

Europe and U.S. are worried about too big to fail banking systems too

As I study this more I'm beginning to realize that both Europe and the U.S. (and the whole world to some degree or other) is afraid of the "Too Big to fail" problem of banks in Europe in relation to the Greek Default. So, the primary concern (at first) appears to be to find a way not to accidentally or on purpose crash the Greek Banking system and thereby causing a chain reaction of banking collapses leading to one of the "too big to fail" banking systems to fail in Europe causing cascading problems all around the world. Because if a Too big to fail system is crashed by what happens in Greece, it is likely up to 5 to 10 countries could go bankrupt within a month as a direct result. And this could cascade around the world.

So, preventing this nightmare scenario (to the world) has always been more important than what happened to the Greeks themselves by people in other countries than Greece. And this likely is why Greeks have been treated so very badly by Europe and the world.

So, it is possible (though hopefully not probable) that the "No" vote on Sunday in Greece could collapse completely through a "Too big to fail" banking system collapsing somewhere triggering a world wide Great Depression.  Because the world (including China) is not prepared for "Any" too big to fail banking system to go down and to financially survive that. (No country or countries is ready for that).

So, what happened in Greece might be far more serious to the well being of the whole world than you might have originally thought.

So, whether you see this as economic warfare or worldwide economic suicide or whatever you see it as it might be important to take notice of what happens next not only in Greece but also in worldwide reactions to it ongoing.

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