Its amazing how much more prosperous a region can be without taxes, and absolutely stunning how much poor people, yes POOR PEOPLE, can benefit. In the video below, a town in Greece has partially converted to the barter system. Goods are cheaper when sold this way, making it easier for the Greek people to buy and sell what they want or need. This is what happens after a default, this is the next step in a currency collapse, it won't be too many more years until we all have to face something like this.
http://www.youtube.com/watch?v=9y9R0v96K48
In other news, Angela Merkel has confirmed to the world that she isn't just telling the world one thing and doing something else behind the scenes... she really is stupid enough to let Germany go down with the Euro. Here's a quote:
"Angela Merkel is not happy that financial markets have not made any contribution to resolving the financial crisis" - from Reuters.
Understanding can be a wonderful feeling. However, understanding that our policy makers do not understand the financial crisis gives me feelings of anger and despair. Sure I am excited about trading new rounds of asset purchases, QE, and the eventual bust, but what about the future???
Financial markets contribuiting to resolving financial crisis? Please. These are businesses. You put a federal guarantee on deposits and expect banks to care about holding cash reserves? You give banks funding when the fail yet expect them to take measures to prevent failure? You set artificially low interest rates to make loans more available and expect banks to still be able to compensate for the risk of default? This is all absurd. Banks, investors, traders, we are all just playing the game. You tell us what we can and cannot do, you give us money, you take responsibility for our actions.... in the mean time we find ways to profit off of it.... because the alternative is to not profit off of it .... and sorry but that just seems silly Angela Merkel.
