Greeks reject 'impossible' German plan for budget veto

Greece will leave the Euro.

Being ruled from Germany (again) is going to be too much.

Well if the Greeks can't control their budget, no reason why they should drag down the rest of the continent with them.

This is a prime example of why Canada should always have it's own currency. Wonder how hard it would be to go back to the gold standard while we are at it?

Expecting the Greeks to be as orderly, hard working and responsible as the Germans is wishing for the moon.

There isnt enough gold in the world to use against the kind
of numbers we play with today.

Expecting the Greeks to be as orderly, hard working and responsible as the Germans is wishing for the moon.


Better to say Pluto.


I figure they will leave, the new drachma will be introduced at 50% value,
few weeks after it will lose another 30% of that value.

But then, they can refinance, start with lower interest rates,
and try to get their economy moving.

Maybe.

It would be stupid to go back to the Gold Standard.

Expecting the Greeks to be as orderly, hard working and responsible as the Germans is wishing for the moon.


Better to say Pluto.


I figure they will leave, the new drachma will be introduced at 50% value,
few weeks after it will lose another 30% of that value.

But then, they can refinance, start with lower interest rates,
and try to get their economy moving.

Maybe.
Really, what does Greece offer, other than PoI for tourists? Not much to base an entire economy on, especially seeing WE'RE in an economic downturn, where holidays will be the first thing people cut out of their budgets.

I know that gold has traditionally been used as currency and to back currency, but what really makes gold the best standard? Why not a silver standard, or an iron standard, or a lithium standard, or a helium standard?

Expecting the Greeks to be as orderly, hard working and responsible as the Germans is wishing for the moon.
That's about it, The Greeks are ticked off that the Germans have influence over over their budgets and the German are irritated at having to pick up the tab to accommodate the Greeks and how the Greek government allocates ( in their case wastes) their resources.

The Germans have much more of a valid point.

Because Zeus knows you've been doing a wonderful job of that so far. Time for the rest of Europe to cut bait and run. Greece will make a wonderful example to the other European nations in trouble to sort their shit out.

I know that gold has traditionally been used as currency and to back currency, but what really makes gold the best standard? Why not a silver standard, or an iron standard, or a lithium standard, or a helium standard?

Because gold is rare, and it does not change (rust, evaporate, bleed into atmosphere) like the other elements you cite.

It would be stupid to go back to the Gold Standard.

My, what a sound and well argued opinion.

In the immortal words of one Julius J. Finkelmeisterburger, "Fail."


A gold standard can always be reimplemented. The states of Indiana and Utah recently monetized gold and silver (legal under the law) against the prospect of a hyper-inflated dollar.

Meaning that those states can swiftly require that taxes be paid in inflation-safe gold and silver. If such a thing comes to pass then a gold standard is back in force regardless of your opinion or anyone else's.

What would actually be stupid is to bet all of your future on fiat currencies that could end up being worthless, without notice, before the close of market . The only thing holding those currencies up is sheer, irrational faith.

God that's an ignorant statement.
I'd love to see any state try to reject legal US currency... then demand payment in Gold.
In a state like Utah they'd be more likely to be paid in lead.

I know that gold has traditionally been used as currency and to back currency, but what really makes gold the best standard? Why not a silver standard, or an iron standard, or a lithium standard, or a helium standard?
Backing currency is unnecessary. If things got bad enough for people to lose faith in the fiat, do you honestly believe the government would start handing out that gold? Not a chance in hell, so it's a moot point. Our currency is backed by our economy. If our economy fell enough for our currency to become seriously devalued, getting gold, or whatever, for your paper would be the least of your worries.