Friday, May 7, 2010

Gold, the Euro, and German Hyperinflation

With or without hyperinflation, today’s welfare-state obligations — just like 1919’s war reparations — are simply too big to be paid…

The Eurozone’s problem? In short, it’s history…precisely what the single currency was supposed to neuter, of course.

Greece’s still-pending €110bn bail-out has already cost three lives in Athens’ riots yesterday. More bloodshed inside Western Europe would make a horrific end for this grandest of grand post-war projects…the crowning achievement of Europe’s longest-ever period of peacetime. (more)

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