For those of you that keep waiting for some giant change-the-world event; I
invite you to re-gear your perspective. Greece has fallen, Portugal has fallen,
Ireland has fallen and now Spain has followed.
These are
significant events that are, in fact, changing the world though none has caused
Armageddon to date though they may by their aggregate but not singular
importance. This is also why Greece is of such key importance; it has nothing to
do with staying in or out of the Euro or of the preservation of the European
Union as a political entity. That part of the equation is barely relevant. What
is of critical importance though is that if they leave the Euro that they will
default on some $1.3 trillion in total debt that can be afforded by no one.
That
is the rub and you may ignore the rest of the Eurospeak that is bandied about
from Brussels to Berlin. A default by Greece will bankrupt and cause
re-capitalization at the European Central Bank, it will throw the IMF into a
tailspin and it will play havoc with the German Central Bank.
Do not
allow yourself to be taken in and mis-directed; this is THE issue and the only
issue of real importance.
Parisian Family Office, CEO. Began Wall Street, 1982. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Active Trader. White Earth Chippewa Tribal member. Was NYSE/FINRA arb. Conservative, raised on Great Plains reservations. Pureblood, clot-shot free. In a world elevated on a dopamine binge, this is his take! Written from MT Ghost Ranch on the Yellowstone River, TN farm Pamelot or San Jose del Cabo, Mexico, CASA TULE'. Always been, will always be, an optimist.
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