Showing posts with label Drachma. Show all posts
Showing posts with label Drachma. Show all posts

Friday, May 18, 2012

UK banknote printer readies for Greek call - source

If one thinks a Greek exit from the Euro is imminent, here's a play to perhaps profit from the return of the drachma.  One man's trash is another man's treasure.

http://uk.reuters.com/article/2012/05/18/uk-delarue-greece-idUKBRE84H0DH20120518

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Disclosure:  I have no position in De La Rue.

Tuesday, December 8, 2009

Greece downgraded

Greek equities and bonds tanked as their government debt was downgraded by credit ratings agencies, as fears of a default were raised. I predicted that after Iceland's economy collapsed, other countries would follow suit. Other countries at risk of default include Dubai, Ireland, Latvia, Hungary, Argentina, Venezuela, Lithuania, Ukraine, Japan, Spain, Italy, the UK, and believe it or not, the US, as all these countries are technically insolvent, burdened with too much debt. The cascading dominoes have only begun to fall...

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6755179/Greece-put-on-standby-for-debt-downgrade.html

The USDollar will eventually share the same fate as the Drachma, as do all fiat currencies.