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Greek Referendum And Eventual Grexit Are Likely To Lead To Global Financial Collapse, Depression

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posted on Jul, 7 2015 @ 07:52 AM
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Greek Referendum And Eventual Grexit Are Likely To Lead To Global Financial Collapse and 20-year Depression in Both Europe and the US Says CEO of Forex Peace Army Dmitri Chavkerov


NORTH PORT, Fla., July 7, 2015 /PRNewswire/ -- On July 5th of 2015, Greeks voted "NO" on the proposed bailout program by the Euro Zone, which increased the likelihood of a Greek exit from the Euro Zone, also known as "Grexit", and while many financial analysts say that "Grexit" is already priced in by the markets, Dmitri Chavkerov, CEO of world's largest forex reviews website Forex Peace Army, thinks quite differently.

"First of all, just because Greeks voted 'NO' doesn't mean that Grexit will occur. Having said that, if Grexit does occur, all eyes will be on Greece, in terms of how deep of a turmoil it will go into, for how long will it stay in turmoil, and how much better life becomes for the average citizen there after it comes out of turmoil," says Dmitri Chavkerov.

"Considering that Greece will be debt free, while the Euro Zone would be left to deal with Greek's debt burden, and considering that both China and Russia might just lend Greece a hand, due to current standoff between Russia and the US, plus with Greeks being likely to be happy about the Grexit, and united in their efforts to restructure Greece's economy, the turmoil might just be not as deep, and the recovery might just not last as long as the world would expect it to last. And if Greece has a relatively happy ending, the other countries in the EU that have strong anti-EU sentiment and significant debt burdens, such as Italy, Spain, Portugal, and eventually even France might just follow into Greece's footsteps, which would collapse the Euro Zone, and end the Euro currency," says Chavkerov.

Link to article

Dmitri Chavkerov seems to have enough expertise to make this call. He doesn't seem like a doomer, just calling it as he sees it.
edit on 7-7-2015 by Profusion because: (no reason given)




posted on Jul, 7 2015 @ 08:03 AM
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You think?

There's been plenty other defaults that haven't lead to global financial apocalypse.

Bankers are just talking up the risks because they don't want to take a hit when a large chunk of this debt is written off.



posted on Jul, 7 2015 @ 08:06 AM
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a reply to: Profusion

I think it's time the banks did a little bailing out of their own then .Either that or the 1 % step to the plate and snip this baby in the bud . Celenti says when people loose it all and have nothing left to loose, they will loose it .
edit on 7-7-2015 by the2ofusr1 because: (no reason given)



posted on Jul, 7 2015 @ 08:11 AM
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a reply to: Profusion

This is where critical thinking comes into play

Or as I like to call it having a functioning brain

Do you honestly believe that Greece going bankrupt would pose any danger to USA or Europe if their own banking books were in order

read again and think about it
edit on 7-7-2015 by PredatorCrackling because: (no reason given)



posted on Jul, 7 2015 @ 08:17 AM
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I think the issue is not with Greece persay, but with the potential momentum for chaos. Greece can act like a spinning mirror for every other nation, reflecting their own bad policies as rotation is built by internal bad policies. It begs us to question our own failings. Systems are propped up by dubious entities, and supposed confidence in their viability. If key players start to question this viability, confidence wanes, and the herds start their own rumblings.

Not to mention whatever the hell is going on in China (a lot). It's basically a nexus point of sorts, whereby the chances for "real change" and mass chaos increase exponentially. Greece is neither so large, or tiny, rather most influential by it's likeness towards larger economies.



posted on Jul, 7 2015 @ 08:22 AM
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originally posted by: Painterz
You think?

There's been plenty other defaults that haven't lead to global financial apocalypse.

Bankers are just talking up the risks because they don't want to take a hit when a large chunk of this debt is written off.


The thing is...they fear the Greek exit...for one simple reason. The domino effect. There are already a few more countries that are borderline...the vultures are circling. The one big truth about Greece is...the EU is more afraid of letting go Greece than Greece is about leaving. The EU just doesn't want to admit it...because it would place them in an unfavorable position during negotiations. They have to appear as if...they have the upper hand. In reality...they don't. Disjointing from the EU will harm the EU more than they are willing to admit. Its the sole reason why they are still trying to negotiate even though it obvious to everybody...Greece cant pay.



posted on Jul, 7 2015 @ 08:32 AM
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I don't think China is linked to Greece, but I'm defintely more concerned about what's happening there.

If they keep spiraling, what does that mean for the rest of us. I'm not sure, but I think it's got ominous implications.



posted on Jul, 7 2015 @ 09:04 AM
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Yeah,the EU head honchos are scared that a greek exit will show the rest that an exit is possible.

They are so scared of this that they are doing horrible tings like restricting medicines and food imports,in order to engineer a kind of slow coup in Greece by attempting to turn the people against the government that they democratically elected.

Nice behaviour EU...but you always say you want to help people out dontcha?
That is you only want to help people out with giant IMF loans with huge interest rates if those people vote the way you tell them to.

I don't see how enslaving the next 4or5 as yet unborn generations into debt slavery is helping anyone out but yourselves.
What have the unborn done to deserve that?




posted on Jul, 7 2015 @ 11:44 AM
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a reply to: Profusion

Doomporn.

The serious nations on this ball of dirt have had 7 years since the US GFC in 2008.

Hard values will prevail... and will only increase in value after the correction.



posted on Jul, 7 2015 @ 12:43 PM
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a reply to: marioonthefly

I agree with your thoughts on other countries leadership circles being afraid of Grexit........But on the other hand if Greece does not play ball they will crush them.....They will crush them so hard other countries like Italy and Spain will be so afraid to leave they will take anything handed to them in the future.



If Greece came out of this better off countries would be lining up to get out........TPTB will not let this happen.



posted on Jul, 7 2015 @ 12:46 PM
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originally posted by: TomLawless
I don't think China is linked to Greece, but I'm defintely more concerned about what's happening there.

If they keep spiraling, what does that mean for the rest of us. I'm not sure, but I think it's got ominous implications.





China is not meeting forecasted growth and has very sketchy financials going on. China is a much......MUCH bigger deal and truth be told could bring down western markets. China makes me lose sleep.......Greece let's me see behind the oligarchies curtain of lies.



posted on Jul, 7 2015 @ 12:49 PM
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a reply to: Profusion

This guy isn't a doomer, he's just spouting the same standard doom rhetoric that appears in economic news whenever there is a country on the world stage facing severe economic uncertainty. Glad you could clear that up.



posted on Jul, 7 2015 @ 09:03 PM
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Check the SSE Composite Index lol



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