Bank Run In Greece

We have researched absolutely everything that ever moves. We have correlated EVERYTHING and probably spent way too much money on this sort of thing than would make economic sense. But it has been a passion – a quest to figure out how things really move. Economics has assumed the world is still flat. Research approaches a subject with preconceived ideas so they only look for facts to support that theory. They become like the guy who only has a hammer, everything suddenly looks like a nail.

LongBranchNJ-DepressionScrip

I have stressed that studies in ancient times as well as modern show that during a crisis you head toward DEFLATION as money becomes scarce, the VELOCITY of money collapses, and people HOARD wealth – they do not spend it. I have illustrated before Depression Scrip you can buy off of Ebay. Cities in the USA had to print their own money because of this trend.

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Now, Greece is experiencing the same trend. The Greek central bank had billions of euros in physical banknotes shipped in from other central banks to avert a bank run during the country’s debt crisis as depositors withdrew their money. Why we constantly are amazed when this thing happens shows the academics have failed to investigate the world objectively instead of trying to make it work they way they think its should. Marxism is dead! REAL SCIENCE observes – it does not dictate how it should function and advocate government to force that outcome. Welcome to the REAL WORLD!

http://au.news.yahoo.com/thewest/business/a/-/world/16285427/cash-airlift-helped-avert-greek-bank-run-during-debt-crisis-paper/