No, that actually depreciates the dollar. The dollar is propped up by faith and an extremely large and diverse American economy. And the fact that everyone else seems to be screwed up even worse than we are at present.
Greece doesn't have the capability of stockpiling a bunch of gold or something. So they're going to have to base their currency off of others. They wouldn't be able to float it, as it would be completely worthless internationally.
China is buying up a lot of precious metals. They might start backing the yuan with something other than dollars eventually.
Greek radical left wins election, threatening market turmoil
Re: Greek radical left wins election, threatening market tur
by The Dharma Bum » Sat Jan 31, 2015 12:57 pm
-
The Dharma Bum - Vice President
- Posts: 11594
- Joined: Tue Aug 21, 2012 10:31 am
- Gender:
- Has thanked: 3285 times
- Been thanked: 617 times
- Political Leaning: Anarcho Communist
Re: Greek radical left wins election, threatening market tur
by The Dharma Bum » Sat Jan 31, 2015 2:38 pm
yes, QE depreciates the spending power of a dollar, but it also props up its face value for the markets
-
The Dharma Bum - Vice President
- Posts: 11594
- Joined: Tue Aug 21, 2012 10:31 am
- Gender:
- Has thanked: 3285 times
- Been thanked: 617 times
- Political Leaning: Anarcho Communist
Re: Greek radical left wins election, threatening market tur
by The Dharma Bum » Sat Jan 31, 2015 2:41 pm
and us economy is only reaping the short term benefits of capital flight from the rest of the world as the the cracks start to form in the global financial structure
-
The Dharma Bum - Vice President
- Posts: 11594
- Joined: Tue Aug 21, 2012 10:31 am
- Gender:
- Has thanked: 3285 times
- Been thanked: 617 times
- Political Leaning: Anarcho Communist
Who is online
Users browsing this forum: No registered users and 259 guests