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Saturday, October 01, 2011

Euro Stability Fund Is A Mirage

Economists say that it's a foregone conclusion. It's no longer IF Greece will default, but WHEN. Experts are saying that Greece will go through a "structured default". Here in the real world we call it "bankruptcy". Those who have already loaned Greece money to stay out of default are going to have to forgive up to 50% if Greece will ever get out of debt. Many banks will go under.

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Anonymous said...

When Greece defaults it will be a green light to every other nation in the EU to follow suit. Ireland, Spain, and Italy will all go eventually. When Italy goes it's over. The financial pandemic will go viral and the truth will become clear. The current practice of printing money out of thin air cannot be sustained. We will be bartering services for food before very long. It won't matter how much money you have. You will own worthless paper. Silver and gold will be worth having regardless of what the "spot prices" are. When it all collapses precious metal will have value. So will food and ammunition.

Anonymous said...

The first line could read: It's no longer IF the U.S. will default on debts to China, but WHEN.