muses of the moment

June 19, 2012

Bruce Krasting speaks greek

Filed under: Dollar Crisis, Economic Crisis, European Debt Implosion, Fiat Currency — totallygroovygirlfriday @ 5:43 am

Click here for an interesting post from Bruce Krasting via zerohedge on Greece and euro issues.

Groovygirl thought the really interesting thing about this post: the Greek shipper was not buying more dollars in the mist of a possible euro reorganization, but buying German corporate bonds that can be redeemed in a new German currency. Initially, a breakup of the euro might be dollar positive, but there seems to be more and more currency “options” for capital to flee to besides the dollar. Remember those French citizens wanting Swiss francs in cash, not more euros or dollars?

Other interesting details: Europe has 3 months before a major breakdown. Jim Sinclair says something similar. The wealthy Greeks are leaving the country because they fear more riots/civil unrest.

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