Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Collapsing Greece Bank Deposits and Skyrocketing Home Invasions

Greek banks have been losing their deposits since the beginning of 2010. Total deposits stood at 245 billion euros at the end of 2009. That number fell to 223 billion at the end of 2010 and 183 billion by the end of 2011. At the end of April total bank deposits in Greece was 175 billion euros. Greece is experiencing its “Great Depression” and smart people withdraw their money from the banks and stuff them into safe deposit boxes. Unfortunately some Greek people followed Jeff Gundlach’s advice at the Ira Sohn Conference and keep their money at home. Last month Jeff Gundlach urged investors to withdraw their money from banks and hide them in cereal boxes. He recommended buying different brands of cereals for investors who want to diversify.

Greece Total Bank Deposits Graph

We have been receiving anecdotal evidence that there is a sharp increase in home invasions where robbers armed with assault rifles torture (and in some cases kill) home owners until they tell them where they hide their money.  According to a recent report by Greece’s Public Order Ministry home invasions increased by 110% between 2010 and 2011.

This is totally expected. Given the further decline in bank deposits and increasing unemployment we expect things will get worse. Increasing violence is also causing tourists avoid Greece. Greece’s tourism sector accounts for more than 16% of its economy. Tourism revenues fell 15% during the first 3 months of 2012.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!