Here is the most important excerpt:
Pres. Smith said, "I have had a troublesome vision of another great and terrible war that made the war just ended look like a training exercise World War II and people died like flies. It began at a time when the Soviet Union's military might dwarfed that of the United States, and we [that is, the United States] would have missiles in Europe that carried an atomic bomb. I saw the United States withdraw its missiles to appease the Soviet Union, and then the war began." He also said that we would have big missiles in deep holes he described like grain silos which the Soviets would try to destroy with their own missiles. They would hit military installations and some cities also. He said that the president at that time would be of Greek extraction.
Until then all the presidents would be of British or northern European ancestry. He continued that the U.S. would be bound by numerous entangling alliances and would take away weapons owned by the people. He talked some about the initial attack and the ground warfare, but I can't remember enough to document all their tactics and in which countries various things occurred. One tactic, especially in Europe, was to transport tanks in thousands of big trucks like semi-trailers on the super highways to have them located where they wanted them when the war was to begin. During that explanation I asked, "What about the Atomic Cannon?" to which he answered, "I didn't see anything like that." Then he said, "The aftermath was dreadful. Think of the worst, most difficult times of the Depression." He turned to us children and said, "You won't remember the Depression," which was true. I didn't know there was a depression as I was growing up - the sun came up every morning, flowers bloomed, we went to school, and there was church every Sunday. But he repeated to our parents, "Think of the worst condition of the Depression. Can you think of something?" Our father answered, "Oh yes!" Then Pres. Smith continued, "You know how Sunday school picnics are complete with salad, chicken, root beer, and dessert, and everyone has a wonderful time. The worst time of the Depression will seem like a Sunday school picnic when compared with conditions that will exist after that great war." When he finished speaking he turned around and went to the front door.
Post-analysis reveals the most likely time of fulfillment of this prophecy would have been 1988-1989. The U.S. had just reached agreement with the Soviet Union on intermediate range nuclear forces in 1987. The key to preventing fulfillment may have been President Ronald Reagan's courageous refusal to accept Soviet President Mikhail Gorbachev's proposal to ban all ballistic missiles at the Reykjavík Summit in 1986. The subsequent American Strategic Defense Initiative convinced Gorbachev that the Soviets couldn't hope to outspend the U.S., leading to the transformation of glasnost and perestroika from a ruse designed to hoodwink the West into a serious initiative that led to the so-called "Evil Empire" voluntarily disbanding in 1992.
Nevertheless, the threat of this prophecy's fulfillment in this form didn't completely recede until after the 1988 Presidential elections. The Democratic nominee, Michael Dukakis, was of Greek origin, and in July 1988, right after the Democratic national convention, a Gallup poll showed Dukakis leading by 17 points. But this proved merely to be a post-convention bump as George H.W. Bush clawed his way back to a six-point victory in November after successfully portraying Dukakis as soft on crime.
Some people wonder if George Albert Smith used the term "Greek" as a substitute for "non-White", and claim Barack Obama is the President under which the attack will happen. However, Obama is mixed-race, and on his maternal side, his mother, Stanley Ann Durham. is of English origin. So Barack Obama at least partways continues the tradition of American Presidents holding either British or other Northern European ancestry. By the way, a short list of 2016 Presidential hopefuls reveals no one of Greek ancestry, although Bobby Jindal is of Asian Indian origin and has no European ancestry.
In addition, Russia's current military might, while improving, does NOT dwarf American military might, even though Russian bombers and submarines are behaving provocatively worldwide and Russia is bullying its immediate neighbors (Georgia and Ukraine). While the U.S. is still hogtied by entangling alliances and there are increasing infringements upon the right to bear arms, the U.S. government has not, in the general sense, taken away all weapons owned by the people yet. Consequently, I don't believe George Albert Smith's prophecy will be fulfilled in its specified format, although some of the individual events could still take place. Too many people have had visions of a physical invasion of the United States by international forces led by the Russians and Chinese for us to dismiss this possibility. Another LDS blogger echoes the possibility of at least a partial fulfillment.
Anklebiters and naysayers will complain about George Albert Smith giving this prophecy to one individual family rather than announcing it at General Conference. But there are two good reasons why President Smith did not announce this churchwide. First, it could have precipitated some panic. And secondly, most people might have scoffed at him. After all, Noah warned the people of the antediluvian world for 100 years that the earth was about to be baptized by full immersion in water, backing this up by building an ark, but in the end, only eight people survived the Flood. Noah and his immediate family. The rest of the world laughed at Noah.