This weekend we saw the Greek people reject a plan that would have staved off a collapse of their economy.  Now what? Do they leave the euro? Default on the debt? Does the EU capitulate and fund their failing economy anyway? There’s a lot to talk about.

What I find most interesting is how it all works together. You see, Greece in on a kind of gold standard. While each country is independent, they share a common currency. That means none of them can unilaterally decided to inflate.  This is important for several reasons.

In today’s episode I use Japan to explain why all eyes are on Greece and what it could mean for other failing eurozone countries if Greece does default or chooses to leave the eurozone.

Japan has suffered from 20 years of flat growth and deflation. They are now embarking on what will be the biggest economic battle in recent memory.  It’s decision to inflate it’s currency will have far reaching effects across the globe.  From China to Europe, to the U.S. Many struggling eurozone countries are going to need the ability to deflate as well, but they won’t have the option.

There is an epic global battle being waged by the most powerful nations on earth. But it’s not being fought on the battlefield, but rather by the central banks of each nation. What does it all mean for you, for your retirement and for your children?  You’re not going to like the answer.