4-May-12 World View -- Growth of far left and far right threatens Greece's stability
Syrian troops massacre Aleppo University students in their sleep
** 4-May-12 World View -- Growth of far left and far right threatens Greece's stability
** http://www.generationaldynamics.com/cgi ... 04#e120504
Contents:
Parties on extreme left and right gain in Greece as elections approach
Greece's PASOK leader Evangelos Venizelos warns voters about euro bailout
Greece's New Democracy leader Antonis Samaras blasts immigrants
Syrian troops massacre Aleppo University students in their sleep
Keys:
Generational Dynamics, Greece, PASOK, New Democracy,
Golden Dawn, Antonis Samaras, Evangelos Venizelos,
Syria, Aleppo University, Bashar al-Assad
4-May-12 World View -- Growth of far left & right in Greece
Re: 4-May-12 World View -- Growth of far left & right in Gre
John, I think Greece would have problems defaulting and abandoning the Euro. It wouldn't be so bad domestically, but to conduct trade, they need a tradable currency. Oil and other fuel could disappear from the scene without credit.
In fact the whole world is playing games with currencies, instead of taking credit losses and closing banks. I believe that if they blow up these currencies, they will never get them back together without going back to a gold standard. The standard will be gold, not currency either, as there won't be any trust in paper or socialist leaning governments. None of these currencies would have ever floated without Breton Woods and the promise of gold payment in international trade. Debts took the place of gold as collateral, but it appears they don't intend to pay the debts, but print money. Toilet paper is worth more than debt money that is printed to pay off debts or devalue debts. Once no one wants another countries currency, it will be worthless and too rough to use for toilet paper.
In fact the whole world is playing games with currencies, instead of taking credit losses and closing banks. I believe that if they blow up these currencies, they will never get them back together without going back to a gold standard. The standard will be gold, not currency either, as there won't be any trust in paper or socialist leaning governments. None of these currencies would have ever floated without Breton Woods and the promise of gold payment in international trade. Debts took the place of gold as collateral, but it appears they don't intend to pay the debts, but print money. Toilet paper is worth more than debt money that is printed to pay off debts or devalue debts. Once no one wants another countries currency, it will be worthless and too rough to use for toilet paper.
Re: 4-May-12 World View -- Growth of far left & right in Gre
They could default on the debt or they could pass a law saying that "dracmas are legal tender for all debts public and private with X per Euro" and then pay off the debts with newly printed money. If their deficit is still huge I don't expect anyone will start buying their new bonds either way. So they will have to print money like crazy, either way, and most probably get hyperinflation.mannfm11 wrote:John, I think Greece would have problems defaulting and abandoning the Euro. It wouldn't be so bad domestically, but to conduct trade, they need a tradable currency.
Who is online
Users browsing this forum: Bing [Bot], Google [Bot] and 64 guests