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<Insert idea here> will never be adopted because the politicians are in the pockets of the banks! -
Lets get this straight. The Greek government will spend millions manufacturing silver coins which will be melted down and leave the country as soon as the Drachma has dropped below the face value of the coin.
That sounds like an excellent idea.
I think economics is not his strongest point.I'm alright Jack -
The coin needs not be manufactured in Greece same as notes are not always printed in the country of emission.<Insert idea here> will never be adopted because the politicians are in the pockets of the banks!Comment
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It doesn't matter where they are manufactured they're still going to be made of Greek silver or silver backed by Greek debts...Originally posted by petergriffin View Post“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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According to Salinas, Greece should default first and then run a silver-backed drachma parallel to the "fiat" drachma. The rationale behind this is that if a fiat currency is at least partially backed by hard metal it will gain more credibility. In fact he says that it is worthless to just default and print own money.Originally posted by darmstadt View Post<Insert idea here> will never be adopted because the politicians are in the pockets of the banks!Comment
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