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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: rich evans who wrote (20191)	12/19/2011 12:11:07 AM
From: ahhaha	Respond to of 24758

In the European banks you can hold accounts in whatever currency you choose. ? For counter example, there is no mark account at any German bank. Further, when you transact in Germany you use euros. Let say you buy something with currency there. You tender euros. Therefore, the banks must define fungibility in euros. All members of the EU have euro denominated accounts only.. Why couldn't Greece start using the the Drachma and pay their bills with it and the peope could keep their eruo accounts etc. Because that would explicitly destroy the Maastracht treaty. In principle, there's no reason why any country can't have various currencies operating, as long as they have a free market of conversion. After all, I do believe in the US we still have green stamps. If Greece left or got thrown out of the EU, they'd revive the drachma, and they could devaluate it to prosperity a la post WW2. People would stream to Greece and corporations would increase their interactions with her because she would become cheap. Being cheap is how you create prosperity. Not being expensive which is the Keynesian - monetarist way. Want to engineer jobs? Increase supply of goods. That gets everybody jumping. Unfortunately for the DM statists and their rino sympathizers increasing demand is all the rage. Increase demand and employment drops. That's totally true in Greece too. Greece went bad when it got expensive. The drachma of course would inflate against the euro This claim which is on the surface true, is actually false since it only achieves its truth ceteris paribus. If the drachma was revived Greece would prosper. Then all EU members would see that the euro is a poverty bastard created by commies as part of their one worlder tyranny. They'd all go back to their native currencies. The euro would collapse to worthless. but those holding euros would be fine. Hmmm. Euro represents the promises of some foreign government. Would you be confident that they would pay? Officially, I would, but while I was being official I'd be adding to my stash of gold, dollars, jewels, and other hard things that I'd be collecting.