william the wie
Gold Member
- Nov 18, 2009
- 16,667
- 2,402
- 280
How big of a deal will this become?
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
How big of a deal will this become?
The snowball of a Greek default will start an avalanche of bankster bankruptsies that might bury the entire world economy for some time to come.
We do have a BALANCE SHEET deflationary depression, after all.
If Greece can't pay its debt, then others can't pay theirs leading to still others who can't pay theirs, and so on and so forth throughout the world banking community.
Could be some might interesting times ahead, folks.
Invcidently, Gold and other commodities won't be a great hedge against that eventuallity.
So if you're playing those markets on margin, I'd be hedging those bets.
Stopping the elections was a bad idea. The Greeks now think they can go for broke.
Actually the hit from the Greek deal is much bigger than Lehman Brothers even if it goes through, there is no comparable for Italy except maybe the 1923 collapse of Germany.bears-strearns is Greece, Italy is Lehman and it will be a big deal. they can scatter all the manure they want, there is and never will be a 'deal' till the Euro is gone.
Stopping the elections was a bad idea. The Greeks now think they can go for broke.
In nominal terms gold does not rise in deflation and some leveraged positions will be liquidated deflating gold prices. In real terms the trendline for gold rises during deflation is up. Accounting artifacts can and do mislead depending on what you are using to keep track of values.