Earlier today Comrade Malcolm Stacey, our token money tree believer on this website, argued HERE that Greece would not go bust and that would cuase shares to zoom higher. I am sorry to say that he is wrong on one if not both counts and explain why in this podcast.
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Comments
Marvin
Absolutely spot on re Greece I think and I guarantee that, even after default, the germans will still flock to the islands every summer helping to underpin the new currency.
It would be great if you could have an article on the mechanics of sovereign currencies along with the operational realities of banking when it comes to central bank reserves i.e. currency which would explain why Greece should show strong a strong recovery within six months of defaulting.
Not strictly related to the stock market though which is all private money.
I’m happy to throw something together if you’re interested.