Thanks for your well presented take fleshing out the headlines with more details than were uploaded by the usual crowd on Youtube.

Actions such as these in the EU would be concerning in themselves. Couple those concerns with news that eight states in the USA failed to pass state budgets by 01 July. Those states face government shutdowns of non-essential services this week.

Without wanting to appear alarmist, one must wonder where an economic basket cases like Italy and rust belt states are going to find funds to remain operational.

I keep having visions of the 1930s where people would use a wheelbarrow to cart their paper money to the store for a loaf of bread. Think Venezuela today. Who wants to be sitting on a pile of fiat when the music stops?