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But wait, we thought Greece and the ECB had an upper hand? Wouldn’t they exercise said upper hand by now, considering its now 9pm in Greece on a Sunday, the day before the critical European finmin meeting by which point the Greek deal was supposed to be in place? From Reuters: Greece’s private creditors are working closely with Athens on a debt swap deal, their chief negotiator said on Sunday, adding that he was confident [...] Fiat currency, it reminds me of a contract thats won by the lowest bidder! Completely useless as a store of value when it can be printed out of thin air by a small elite! In turn, because it is constantly depreciating, it is nearly worthless as a ‘unit of account’ as well, because what does $100,000 revenue (for e.g.) over a year mean if the [...] You have to watch this video to believe it. The speculation in the commodities market is well out of hand. Cotton futures are at a record high on speculation that demand in China will continue to increase, as China is the world’s largest importer of cotton. Add in the flooding in Australia and you have the makings of a rally driven by fundamentals but bolstered [...] |
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