Cryptos future still uncertain but if you've not already converted your Euros. You may never be able to.
Draconian Measures
Wow, if you follow the trail of the increasingly draconian European Banking Laws over the past decade, it doesn't paint a pretty picture of whatever they're preparing for.
- Bail ins
- Demonetization of cash (500 Euro note)
- Limited cash withdrawals/transfers
- Discretionary suspension of cash and electronic withdrawals in distressed banks.
If you want blood, you got it
What this effectively means is that the banks can use YOUR money to bail themselves out and/or suspend you from accessing YOUR OWN cash if they're in distress. Leaving you to rot in the street penniless.
Hardly completely unexpected as this is how it always ends when the parasite outgrows its host.
When the herd starts to realize that the banks are finished and can't access their account (or can only access limited daily cash) it's already too late, the ship has sailed and you can't do anything but hope.
I think it would be prudent planning to start slowly, steadily and stealthily converting your wealth to cash, cryptos, precious metals, art, farm land or whatever you think will hold value in the coming financial crisis. Cash would not be high on my priority list but may get you out of a bind temporarily just FYI.
Things are starting to really heat up. Anyone would be a fool to try and predict the timing of a financial crisis but there is certainly a lot going on between North Korea, US Hurricanes, Student Loan Debt, Auto Loan Debt, bankkrupt US states, European banks going under etc.
Conclusion
There is a reason that these laws are being proposed and enacted and believe you me, it's not in the people's best interest.
You have been warned, the writing is on the wall.
Coming to an ATM machine near you...