Illuminati Silver : Greece Crisis or Grexit – No need to panic

Welcome to Illuminati Silver, we tell you
the truth about Silver. 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 subscribe. Disclaimer:
Silver Illuminati owners come from a background of Banking, International Wealth Management
and Economics. Having now retired from these worlds we are not now qualified to give investment
advice. Therefore, this and other productions must not be deemed to be giving such advice
and merely represent the personal views of its owners.

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