Greece: GRD v € And What If...............!

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
13/02/2012 23:58

A disturbing report on the 'what ifs'.

The £ & TL may well rise significantly as will the $. Well worth the 30 minutes listening if at all interested in monetary affairs.



http://www.bbc.co.uk/iplayer/console/b01bwm1h#



Richard

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
14/02/2012 11:41

Great listening. Thanks for the link.

What's happening is merely what's happening. How you feel about it is another matter. The powerful will make an enormous amount of money out of it.

There is no actual money - it's all computer digits!!! But the Debt is then created and becomes real.

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
14/02/2012 11:46

Thinking about it all, I believe the EU is preparing right now for Greek exit. The Plan will probably be ready for next month for allowing Greece to depart from the Euro Currency.

ilovecyprus


Joined: 08/05/2007
Posts: 2880

Message Posted:
14/02/2012 11:48

The money men are ready to make a killing. They are preparing their financial instruments so that they can purchase Greek assets at knock down prices.

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
14/02/2012 12:43

There will certainly be some very cheap houses on the martket, but don't be fooled, go to some of the poorest countries in the world and look at the kind of houses you would 'want' to live in, they are extortionate, with locak incomes counted in dollars per day (single figures).

What will mainly happen is the poor/rich divide will get enormous, more likely catastrophic, the rich are already moving their money out, the poor can't afford to, and don't have any any anyway.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
14/02/2012 23:08

Bail-out for Greece has just been suspended. What next?!

No 'live' links as of yet.



Richard

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
14/02/2012 23:12

http://www.bbc.co.uk/news/business-17034677

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
14/02/2012 23:31

Thanks Erol. On the ball as always!!



Richard

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
15/02/2012 08:30

Was thinking about this further

What will probably happen if the Drach returns is local business', hotels etc will still price in or accept hard currency, Eu, USD, GBP etc Like Turkey, or convert at the daily rate, if they can fit all the zeros on the calculator

Car sales will be in the currency of import as NC

Houses will largely be in hard currency

Public salaries will have to be in the Drach, but with little exports who wants them, so inflation will be in the 000% as people try to swap for hard currency

When Zim$ was in use, people used USD/ZAR

Tradesmen will work for hard currency cash and pay no taxes

The only way they can prevent a massive black market is to ban the use of other currencies, but that would be contrary to EU law

A couple of years down the line, the Yeni Drach will arrive to replace the Mega Drach

(cont)

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
15/02/2012 08:31

However, imagine you have a 200k Eu mortgage there, and they flip to Drach, with mega inflation, a year down the line, you will be able to pay it off with a weeks wages. Moving or first time buyer is out of the question as prices will be in hard currency, so loosing on the inflation to existing loans, the banks will all go under



I think they may need the anti social collapse bat spray

martinev


Joined: 24/10/2008
Posts: 320

Message Posted:
15/02/2012 12:22

As the Germans seem to be leading the bail-out discussions, if a new currency is required, perhaps the Greece Marks should be considered !!



Martinev

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
15/02/2012 19:23

"Eurozone states want Greece out, says Venizelos"



http://www.bbc.co.uk/news/world-europe-17040616

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
15/02/2012 21:06

#12

Crikey, they kept that a secret!

LMAO!



Well Greeks, it's back to the olive trees and goats, only now you also have hyper-inflation to look forward to aswell, next time try telling the truth!

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
15/02/2012 21:28

Solution?!

Turkey has always wanted Rhodes Island back since they were kicked out by the Italians in 1912 and then in turn taken over by the Greeks in 1945 with many other Dodecanese islands. Turkey retakes control of all these Islands by paying off the total Greek debt by off loading its huge gold reserves. Sorted!!



Richard