Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
cypherdoc
on 21/06/2015, 02:17:07 UTC
we know Larry Summers likes Bitcoin.

here's his take on the impending Greek crisis:

Make no mistake about the consequences of a breakdown. With an end to European support and consequent bank closures and credit problems, austerity will get far worse in Greece than it is today, and Greece will likely become a failed state, to the great detriment of all its people and their leadership. Once Greece fails as a state, Europe will collect far less debt repayment than it would with an orderly restructuring. And a massive northern out-migration of Greeks will strain national budgets throughout Europe, not to mention the challenges that will come as Russia achieves a presence in Greece. The IMF is looking at by far the largest nonpayment by a borrower in its history.

That means acknowledging that the vast majority of the financial support given to Greece has gone to pay back banks rather than to support the Greek budget.


http://www.washingtonpost.com/opinions/the-consequences-of-greeces-impending-breakdown/2015/06/20/9a4ab5d8-174d-11e5-89f3-61410da94eb1_story.html?postshare=4971434819123959