Wednesday, May 30, 2012

They Wouldn't Dare, Would They?

Jesse Livermore reminds:
Greece has a printing press, literally. They have machines to print euros, as ECB outsources that task to the countries.


  1. A good question...but since most money is in digits on a computer these days I don't think they could print enough to pay back the German banks that are holding that debt. Plus wheeling in a bunch of trucks carrying crates of cash would look fishy.

    1. Naw, hey man, we just found these between the pillows of our couch!

  2. They would never!

    After all, just this morning, Joe Weisenthal reminded us:

    The primary belief of the ECB -- as its chief reminded us this week -- is to keep prices stable. The ECB is obsessed with fighting inflation. Any kind of inflation. The ECB wants to beat back inflation at all costs, even if doing so may be economically detrimental.

    So Jesse Livermore doesn't know what he's talking about.

  3. Portugal has implemented massive reforms last 2 mths. Massive. The austerity lessons from Estonia and Sweden are being learned.

    Due to debt levels it might be too late though. But please be aware that reforms are being implemented, even though some of us have been screaming for it every day since 2004.