Article View: aus.consumers
Article #193Re: If the world is totally in debt...
From: Warren Smith
Date: Wed, 28 Sep 2011 07:29
Date: Wed, 28 Sep 2011 07:29
22 lines
2459 bytes
2459 bytes
"Eunometic" <eunometic@yahoo.com.au> wrote >Default is the way forward. I agree, what other way is there? And, it's not a matter of if, but when will Greece throw in the towel. Normally if a country can't pay its debt they lower the value of their currency. This makes their exports more attractive, and people flood in to take cheap holidays and shopping trips. Money starts moving again. But how will Greece lower it's currency when they use the Euro. Simple, go back to the Drachma. But how well will that work? Will the Greeks rush the banks to take out their Euros the very moment plans to re-introduce the old currency are announced? At what rate will the new Drachma be valued? If they float it, it will probably sink and inflation will rule. If they fix it and over value it, the currency will be black marketed. No matter what happens, it'll all end up a friggin' nightmare!
Technical Details
Message-ID:
<j5uibs$8q6$1@dont-email.me>Path:
arc1-ca.pugleaf.net!lh7ni6468pbb.0!nntp.google.com!news1.google.com!goblin1!goblin.stu.neva.ru!eternal-september.org!feeder.eternal-september.org!.POSTED!not-for-mailReferences:
<4e82a1b3$0$13394$afc38c87@news.optusnet.com.au> <5b083ca1-6acb-47f7-8362-fd5d25641bf0@dm9g2000vbb.googlegroups.com>Show Full Headers
Complete Article Headers
X-Google-Thread: 10a0c5,412c04670d4131b5
X-Google-NewGroupId: yes
X-Google-Thread: 10df0c,412c04670d4131b5
X-Google-NewGroupId: yes
X-Google-Thread: 10a774,412c04670d4131b5
X-Google-NewGroupId: yes
X-Google-Attributes: gid935ba7766b,gid9e5a772d74,gid3ac807a62f,domainid0,public,usenet
X-Google-Language: ENGLISH,ASCII-7-bit
Received: by 10.68.46.193 with SMTP id x1mr14448935pbm.7.1317194942601;
Wed, 28 Sep 2011 00:29:02 -0700 (PDT)
MIME-Version: 1.0
Path: arc1-ca.pugleaf.net!lh7ni6468pbb.0!nntp.google.com!news1.google.com!goblin1!goblin.stu.neva.ru!eternal-september.org!feeder.eternal-september.org!.POSTED!not-for-mail
From: "Warren Smith" <warren.smith@aol.com.au>
Newsgroups: aus.consumers,aus.politics,aus.tv
Subject: Re: If the world is totally in debt...
Date: Wed, 28 Sep 2011 17:29:28 +1000
Organization: A noiseless patient Spider
Lines: 27
Message-ID: <j5uibs$8q6$1@dont-email.me>
References: <4e82a1b3$0$13394$afc38c87@news.optusnet.com.au> <5b083ca1-6acb-47f7-8362-fd5d25641bf0@dm9g2000vbb.googlegroups.com>
Injection-Date: Wed, 28 Sep 2011 07:29:01 +0000 (UTC)
Injection-Info: mx04.eternal-september.org; posting-host="CGtAdh8TEClzUYtfYAgQrg";
logging-data="9030"; mail-complaints-to="abuse@eternal-september.org"; posting-account="U2FsdGVkX18cBRIb1XhMNiEEJ+YZYcnI"
X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2900.6109
X-RFC2646: Format=Flowed; Original
X-Newsreader: Microsoft Outlook Express 6.00.2900.5931
Cancel-Lock: sha1:0VYDvWK7hDKKy/dNsWFAGRrutvQ=
X-Priority: 3
X-MSMail-Priority: Normal