Gold Coins: Your Antidote for the Under-Reported/Super Contageous Greek Economic Flu
“It is impossible to cut wages and prices by 30% without major riots. The policy of forced 'internal devaluation', deflation, and depression could risk driving Greece to the edge of a civil war,” warned Hans-Werner Sinn, head of the respected IFO Institute in Munich.
Say what? Greece in a potential civil war? Huh?
Now that our media has chosen to ignore Europe's ongoing economic troubles -- and, specifically, the problems facing Greece -- we, Americans, tend to believe that all of that foreign nastiness has ironed itself out. Nothing could be further from the truth. Sadly, problems remain. And many experts believe they're worse than ever, Hans-Werner Sinn being prominent among them.
Mr. Sinn went on to say, according to an eye-opening article by the always interesting Ambrose Evans-Pritchard, "Greece would have defaulted in the period between April 28 and May 7, had the money not been promised by the European Union.”
Whoa.
We're not talking about Kmart here, folks. This is actually a country. A rather big one, too. Certainly, if nothing else, Greece's critical problems deserve a place in the American consciousness.
And that's precisely the problem here. For two reasons:
First/ What kind of media chooses to neglect such momentous issues as a big country on the crumbling edge of bankruptcy/possible civil war? Isn't that newsworthy enough? Doesn't that have the capacity to impact the lives of Americans?
And if the media is "overlooking" this kind of news, what else is it overlooking? Kind of shakes your faith in the whole network news establishment.
Second/ Economic disasters (as Greece is experiencing) can be extremely contagious. In fact, Spain and Portugal may have already caught some form of the disease. It's an economic flu that moves with lightning speed...meaning many of us may be caught wholly unprepared, should this disease gain a bit more traction.
You probably know what I'm about to say, seeing that this is a gold coin site: Gold coins can be your antidote for the under-reported/super contagious Greek economic flu, should such a thing arrive at our financially exhausted shores.
Like all invaluable antidotes, gold coins could be found in high demand -- and short supply -- in the not-too-distant future.•