Goodbye Euro, Hello Drachma

Tyler Durden's picture

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cossack55's picture

As long as they don't kill the ouzo.

 

Hmmmm DJ Futures down 138 already.

X.inf.capt's picture

no kidding, when i was stationed in west germany, 85-87, i was addicted to that stuff.....

cossack55's picture

Used to buy it in the hills overlooking the NAMFI firing range on Crete for $1/btl. No label. Very good stuff.  Was never sober long enough to get addicted.

franzpick's picture

What they should kill is the drachma, then 'do the Iceland' and introduce the new currency, the ouzo.

X.inf.capt's picture

they would have the strongest currency in the world.

got turned on that stuff by a REDHEADED girl, got addicted to both....

with an exchange rate of 3DM's to 1usd, we lived like kings....

yep, the good old days....

HarryWanqer's picture

I hope so.  I'd buy them up and put them with my stash of Iraqi Dinars.  You can't possible lose when the exchange rate is that extreme.

BaBaBouy's picture

Anyone ???

How do you post a friggin image ?

nmewn's picture

Become a contributor.

Ahmeexnal's picture

And cracks start to surface in Switzerland: UBS voices disapproval of SNB peg.

http://www.tdg.ch/actu/economie/ubs-credit-suisse-desaccord-face-taux-pl...

knukles's picture

But Jim (Doesn't the guy spend any time in the office managing his client's money?) O'Neill says it's A Good Thing.  Bet he got that from Martha Stewart.

Djirk's picture

of course this is Wilders holding this.....hater! 

Trying to Understand's picture

go to a site, such as: http://www.postimage.org/ and load your image there, it will generate a link which you can post most anywhere.

FinalCollapse's picture

Thanks - I just tried it, and testing it here. This is an image that I find very funny. The title of this image is fitting: "Ooops".

http://postimage.org/image/2zocavmhw/

 

X.inf.capt's picture

WOW, i think i just saw uncle ben going to walmart to buy a loaf of bread. circa 2012. america

e2thex's picture

What was the exchange rate for the red=head? :)

X.inf.capt's picture

exchange? free.  you just had to be very careful arourd them. dont piss them off. case in point. of all female sniper aces inrussian army wwll, 62% were redheads...(5 sniper kills=ace). but you treat a redhead with respect and do what she asks, life is awesome, because redheads are passionate, in love and war.......better than mortal man deserves.

thunderchief's picture

I don't like Ouzo.

I like Pernot.

Viva La France.

Freewheelin Franklin's picture

and introduce the new currency, the ouzo.

 

HAHA. In colonial New Jersey, applejack was used as currency.

Doña K's picture

Greeks should have dual currency. Ouzo and Vaseline

mkkby's picture

I'm going to catch hell for this, but so what...  The euro isn't going away and nobody's leaving it.  The euro was just a step toward one european gov, and one world gov.

The EU will print, the fed will print, japan will print, swiss... -- everyone will print.  They won't let the political dream die.

The sales pitch is a unified europe won't have another world war.  True, but large parts of the world can and will starve after the bankers take everything worth taking.  The sheeple will eventually vote it in.  What choice do they have?

AnAnonymous's picture

The euro isn't going away and nobody's leaving it. The euro was just a step toward one european gov, and one world gov.
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

One world government? Again that?

No. One world government is not in the box.

we've got one side of the world that is on the path of increasing critical mass in order to avoid pay back. Extorters have this in common: they will try to make it so that retaliation on one extorter matter to all of them.

Indeed, Europeans will try to melt into one european in order to achieve. After that step, the US and Europe will try to merge.

This same side also tries to atomize as much as possible the other sides. Because extorters have this in common: they hate extorted organizing themselves in order to resist extortion. Extorters want extorted as unorganized, as isolated, as lonely as possible.

No one world government. Just one side of the world that is fleeing ahead in order to avoid pay back by diluting more and more its responsibility.

DaBernank's picture

The League of Nations will make a come back.

DoChenRollingBearing's picture

"Was never sober long enough to get addicted."

Nice line!  Green!  Green reminds me of absinthe....

IQ 145's picture

You beat me to it; it's a peachy line. Your avatar always brings a smile; as an engineer, of course, I am addicted to rolling element bearings !

Manthong's picture

Souda Bay Rock Club transient member, here. My beverage of choice there was Greek Amstel. Ouzo boilermakers worked OK if I recall correctly.

Of course, there is a lot I can't recall correctly from back then.

Mike2756's picture

Ahhh, the good old days, when you got a decent mark rate.

spiral_eyes's picture

 

"I am sure the Euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created."

— Romano Prodi, EU Commission President, December 2001

Didn't quite work out like that, did it?

http://azizonomics.com/2011/09/11/big-change-for-europe/ 

 

HitTheFan's picture

It's just Greece defaulting, they do it on average every 12 years. In no way does this reflect on the viability of the Euro itself, which is supranational, and has 65% of its reserves as gold (and watch for that to increase).

The Euro is a good thing, it was designed to replace the dollar when that fails. Should the Euro fail, will you be happy to see gold and oil at 30 to 40 times their current levels?

Read a bit more, rather than writing sensationalist rubbish.

Popo's picture

Lol. Way to completely misunderstand the significance of a Eurozone nation defaulting.

spiral_eyes's picture

@HitTheFan

"Should the Euro fail, will you be happy to see gold and oil at 30 to 40 times their current levels?" 

I have hedged accordingly for that eventuality.  

Léonard's picture

@Popo

Haven't you heard what Jim Rogers said the other day ? I know ZH misleaded us on that one but the guy (and so does China and Russia) believes in Europe :

If Greece default, "the euro will go down a far amount. But I would buy all the euro I could at that point because then that would mean that Europe is going to have a very strong, sound currency," he explained.

http://www.businessinsider.com/jim-rogers-buy-all-the-euros-you-can-if-g...

Europe has industries, infrastructures and gold to back the Euro and also a tied and well educated population.

What has the USA in comparison ? Nothing. No more industry. No job creation. No gold. Trillions of debt. A divised nation with a sick, fat and ignorant population. A dying agriculture exterminated by chemicals and GMO. Natural desasters and no man's lands all over the country.

The dollar is backed by a mirage.

kito's picture

@hitthefan, normally you would be right about greece just defaulting, but there is the concern of what follows--- spain, italy, portugal, etc. its a much different situation than the last time greece "just defaulted". we are on the precipice of european debt implosion. the amount of bonds and swaps out there lurking in banks that already have limited liquidity is keeping european leaders up at night. so maybe you should read a bit more, rather than writing myopic views of what a greek default entails.

Stax Edwards's picture

I for one think the pain the Greeks departure will provide stern motivation to the others to get their houses in order or suffer the same fate.  I have changed my tune from Euro failure, and I was banking on it. 

Greece is out IMO, and let it be a sobering lesson to the others.

kito's picture

get their houses in order? thats laughable. how? with global growth already anemic, will the rest of the spendthrifts make the necessary cuts, or will they just make token gestures like raising alcohol taxes and then make promises about real change that will shirley fix the problem in some undetermined date in the future?

MayIMommaDogFace2theBananaPatch's picture

Awesome photo. 

And don't call me surely.

AustriAnnie's picture

I agree @kito.  I don't see a painless way out of this one.

How does one get a house in order when Ponzi built the foundation?

 

Zap Brannigan's picture

...and don't  call me shirley

 

cripes too late

Lord Welligton's picture

"let it be a sobering lesson to the others"

What lesson?

That money is created out of thin air?

That money is created as debt by banks?