"Greece" Is The Word
Moderator: Global Moderator
"Greece" Is The Word
With Greece having their historical election today what do you perceive the ramifications to be? Exit from the EuroZone? Printing of the new Drachma? A rise or fall in gold prices? The beginning of a new bull or bear market here in the states and in Europe? The continuation of the rise of long term treasuries or the beginning of a precipitous turnaround. Or just more of the same?
Re: "Greece" Is The Word
I think it will have very little impact on the financial markets. It's been an issue for such a long time that I think all of the uncertainty is already priced in.
"All men's miseries derive from not being able to sit in a quiet room alone."
Pascal
Pascal
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cabronjames
Re: "Greece" Is The Word
The media & elite politicians seem to assume that Greek defaulted or did a temporary debt moratorium on its debt, that would mean Greece "would be kicked out of the Eurozone". This may be "political reality" due to elites' opinion such as Germany PM Merkel or the economists/2B2F Bank$ta alumni heading the European Central Bank. But this is definitely not a theoretical reality.
I read a interesting point, that in US history, many (iirc a majority) of the US states defaulted on their debt or had a temp debt moratorium, at least once during US history (iirc many such debt events occurred during the 1800s). Never once did this mean that even a single US state got "kicked out of 'Merica". Of course the Eurozone is a unique & different type of political entity than the US, which is a nation-state, but I still think it's an interesting point.
I read a interesting point, that in US history, many (iirc a majority) of the US states defaulted on their debt or had a temp debt moratorium, at least once during US history (iirc many such debt events occurred during the 1800s). Never once did this mean that even a single US state got "kicked out of 'Merica". Of course the Eurozone is a unique & different type of political entity than the US, which is a nation-state, but I still think it's an interesting point.