Preparing for the “Grexit”Submitted by Charleston Voice on Wed, 05/23/2012 - 21:35
Wednesday, May 23, 2012 9:32
Preparing for the “Grexit”
Posted by Charleston Voice, 05.23.12
How logical! we fear there will be many a Nico giving those V8 smacks to himself upside the head!
Free Gold Money Report by James Turk
May 23, 2012 – The Grexit, or Greece’s exit from the euro, is becoming more likely, judging by how frequently it is mentioned these days. Unfortunately, preparing for it may be more difficult than many believe. Before addressing that point, I would like to first illustrate the extent of the problem.
This chart was included in an excellent article by Mish (a/k/a Mike Shedlock) on his Global Economic Analysis website. He notes: “One chart is all it takes to prove a full-fledged European bank run…is well underway in the Club-Med countries and Ireland”, i.e., the so-called PIIGS.
There is a lot more in Mish’s article, which I recommend reading. But I would like to use the above chart to make an important point about the Grexit.
Read more:Preparing for the “Grexit”