Hi Mark,
How are you?
<Some of the countries which are in trouble, could have used gold to assist them in
getting out of their difficulties (in fact some did, despite the lousy price), but as it is, they
have to rely mostly on the US/IMF for their loans, that sooner or later go bad ... then
the currency manipulations that unfold. Then the loans have to be paid back in US
dollars, when the currency is weak. Then these countries have to up their interest rates
.... quite a vicious cycle.>
Yes, quite right. I share your sentiments entirely. On the other hand, I can't help myself to look at this mess with the eyes of a "cold war political refugee". Some thinkers in these countries think that since the global cold war was won by the US, they are now "harvesting" the winner awords. They feel that the US are now collecting war taxes from the losers and the losers' sympatisers.
Maybe they are right, maybe not. I was in Italy over the Xmas holiday. The Euro was a big event. Every paper spoke about it and reported on other major europian papers editorials. Some historians and phylosophers see the Euro as the way to reduce the winner looting. (sorry for the harsh words, just sharing what I read)
Take care, and good lack with DMX
Anna
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