We are still in exciting times.. and Greeks could spark things off.
From a macro view, this situation is unseen/unreal.
The whole banking system is at a ATH of deceit and theft. And it's hitching.
So what if a greek bail in (vs bank runs vs end of cash) results in people seeking ways to just secure their wealth - not even making transactions.
What would the smart money (
not even the smart traders ) do when the dominos irremediably rolls over?From what I have been reading, Greeks have been buying luxury (ironically German) cars for months now in anticipation of capital controls - drive across border, sell for Euros as needed. I am not sure how much capital is left to flee from Greece TBH.
That said, the contagion potential is very real ... BUY AUDI AND BMW !!!
Are you aware how much a new car depreciates in the first month of ownership? If yes, then your post was sarcastic.
Greeks may turn to precious metals instead. Or gems, or whatever can be bought in Greece and sold for euros later.
No, I am completely unaware how much cars depereciate
This has not been stopping Greeks from buying them, as hypothesised here, to evade upcoming capital controls. I am not talking about what they might do, I am talking about what they have already been doing for months.
http://www.telegraph.co.uk/finance/economics/11599513/The-real-sign-that-Greeces-financial-turmoil-is-getting-worse.html
As I said, I doubt there is very much capital left in Greece to actually flee. It's not current events are actually a surprise is it ... this has to be the slowest, most drawn out train-wreck in recent history.