Just to throw a little grease on that Saganaki……. let’s have a look at some FACTS. Now I know our global bankers just hate when we bring facts into the discussion but you know us, always having to rock the boat and all…..
It never ceases to amaze me how the sheeple simply accept the explanation as given by those ‘in charge’ in the face of blatantly obvious conflicting facts (think 9/11, Ukranian coup, Iraqi WMD, ISIS, etc.). But as one doesn’t fight the Fed, one mustn’t fight the perceived reality for one quickly becomes the crazy-one. But, understanding the risks, allow me to present some facts that conflict with the explanation given by those ‘in charge’.
Pre Euro Greek total production increased by some 600% between 1960 and 2001 while German total production increased by a mere 255%. Now if we think about it in footballer (soccer) terms, Greece gave the German nationals a real thrashing. However, throw in the Euro and the subsequent 15 years has German total production up 20% while Greece total production is down 26%.
So a nation that had essentially 40 continuous years of production expansion suddenly goes into a tailspin upon changing up the monetary basis of trade suggesting that we can pinpoint the culprit. A 5 year old could pick up on this actuality. So how is it that these supposed omniscient academics at the ECB are simply incapable of seeing the blatantly obvious?
Well because the Euro is what provides them their perceived and weightless authority but we must all recognise these emporers have no clothes. If the Euro goes so too does their political power of persuasion. And this is why the negotiation is no longer between the ECB and Greece, Greece has made their intention clear, but between Germany and the ECB. Germany is the nation currently funding the ECB’s false authority.
Just to prove that the Euro induced Greek economic breakdown was not a fluke isolated to only Greece, let’s look at further proof in the pudding.
One could likely tie the massive negative global economic inflection point of 2001 to the flooding of an overvalued new currency into global markets, thus significantly further inflating assets in all other currencies, exacerbating the bubble that was already building. But that’s for another day…..
By Thad Beversdorf, Chief Global Economist for Allocated Bullion Exchange