Sunday, June 28, 2015

Will this be the week?

Back in the mango.  Had a very pleasant drive with a stopover at Farm Chokchai for some ice cream and fun watching the animals with Marina.  If you are not familiar with Farm Chokchai, you might be familiar with the many kiosks in the mango with the name "mmm...Milk", which sells a lot of ice cream and yogurt in the malls.

Anyway its always a great place to stop if you have kids because there  are pony rides, petting pens, and lots of goodies in the shops.  They also just opened a new museum, which we haven't visited yet, of the farm and its history.  Pardon the pun, but this company has the horsepower to make this a tourist destination just like Knotts Berry Farm of the old days. 

Marina enjoying her ice cream
Now that I am back in the mango, I am asking myself as are others, is this the week that the dominoes begin their fall?  With Greece likely to vote against the offer by the creditors and today's action by the ECB to cut off funds to the banks, is this the start of the demise of the Euro and thus the chain reaction of other defaults by countries like Spain, Portugal, etc?  Things are surely shaping up for some kind of upheaval.  Imagine if all the banks in the US closed their ATMs, closed their branches for mandatory holidays, and then restricted your ability to withdraw/transfer any large sums of money.  How upset would you get?  That is exactly what is happening to the Greeks now, who a few years back would have never imagined that this could be happening to them.  

never thought it could happen to me!!!

The stock market is likely to drop big time on Monday across the globe and if there is panic, then that might set off the derivatives bomb.  If the derivatives go up in smoke, then the entire global financial system is insolvent.  So keep an eye on this week's events as they unfold - we might be seeing history in the making...

Have you got your cash and other hard goods in your hot little hands yet?  Did you know that there is a shortage of physical cash and many banks already limit how much you can take out on any given day.  The banks can create all the virtual digital money they want, but there is only a limited amount of paper money. Also having physical cash prevents them from charging you to hold your own money, thus providing for a negative return.  Greek banks quickly found out when people began taking out money that they didn't have the means to pay more.  If the ATMs and Banks close and the credit cards are not honored...what is your plan B?  If you don't have one, look at Greece.  They don't have a plan B either.


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