re: "if Greek bonds crossing 100% just 5 months ago was not quite attractive, perhaps 1000%"
LOL! That's funny! I guess Greece is having some difficulty finding anyone to borrow from!
Now, given the nature of the Greek situation, who would lend at ANY interest rate? It is, essentially, money thrown away!
And, if Greece borrows a billion bucks from somewhere, where does it plan to get the nine billion additional bucks it will need next year to pay off the interest????
Heh. Unless the EU decides it wants to pick up the tab, Greece had better get used to the idea that no one is going to lend it money because everyone knows that the loan will go bad.
So, that leaves the country with two options: (1) Stop spending money faster than it's coming in, or (2) start selling off assets. I would give them a couple hundred thousand dollars for the Acropolis...
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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