Many want to point to a banking crisis like it is 1920. Here is another example where the change in money affects things. We are not dealing with a cash based system.
In this video I discuss how a banking crisis is not the major risk. In fact, when it comes to containment, the central banks (i.e. Fed) can cover this one. There is one lurking out there, however, that the central banks cannot stop and, quite frankly, it would be devastating. Find out what it is in this video.
▶️ 3Speak
So, which country might lead the way down? Argentina, Brazil, China, Turkey? Once it hits the EU, Italy and Spain?
Hard to say. Argentina, Turkey and Venezuela are having their economies crushed due to currency collapse against the dollar so all of them are prime candidates. The problem with this is the first usually is unexpected so it could be something we are not focusing upon.
After developing countries, my guess is EU debt is at greater risk than some of the countries so it might suffer first. The EU is already at odds and this could be compounded by a move away from the euro. Italy and Spain have their share of problems so they will get hit too. I think Germany is starting to be something to watch also.
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Hmmm! Financial issues everywhere! We hear nothing more than crises in banking sectors. In my country, corruption in the Central Bank makes it worst. Well, we thank you say it won't be a problem.