Friday, July 10, 2015

Why Greece Should Leave the Euro

I feel that this video is the best explanation that I have seen so far. It does not overly complicate things and have kept the issues at hand to be as simple as possible without dumbing it down.

Nigel Farage shoots down the Euro in 4 minutes flat. I have to say, Nigel Farage is one of the few politicians that I really like because he's smart and he's a straight talker.

The solution is not the Euro, it is the problem.


  1. The European debt crisis is a huge Ponzi Scheme.
    And so is the debt crisis in the USA, Japan and China (to name just a few). And those countries do have a fiscal unions, actually since forever. So how?
    When the Greece-story dies down, the media will jump onto the next country to fill their news shows and newspapers.
    Import for us individuals is to draw the right conclusions for ourselves and our hard earned money ...

    1. Hey Tacomob,

      Totally agree with that! But their lack of monetary and fiscal union should be enough to mess up the situation for them in Europe. Responsible fiscal policy is a whole other can of worms!

      What are the conclusions that you've drawn? So far it has made me a skeptic of government debt and also pushed me towards evaluating things on their longer-term sustainability.

    2. Hi GMGH,

      My conclusions are to stay vigilant and to be prepared for the highly probable reversal to the mean in the markets and a painful solution to the global debt crisis. The Big Reset (all bubbles burst some day).

      Concretely I do have Put options on broad-based Indexes to insure my long-term stock investment portfolio.

      Additionally I do stock up on the real money like Gold and -even better- Silver at price dips (such as beginning of this week). The advantage of precious metals is that they have no counterparty obligation and as such should retain their purchasing power no matter what happens to any counterparty.

      I also make sure not to have too much cash (that printed paper kind for buying the cheap stuff later) in any single bank.

      I agree we are too gullible and should be way more skeptical and ask why certain people or media say what they say.


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