Why Greece Is The Precursor To The Next Global Debt Crisis

The Greek Economy Is Small and Imbalanced

Here are the basics of Greece’s economy, via the CIA’s World Factbook:

Greece’s population is 10.8 million and its GDP (gross domestic product) is about $200 billion (This source states the GDP is 182 billion euros or about $200 billion). Note that the euro fell sharply from $1.40 in 2014 to $1.10 currently, so any Eurozone GDP data stated in dollars has to be downsized accordingly. Many sources state Greek GDP was $240 billion in 2013; adjusted for the 20% decline in the euro, this is about $200 billion at today’s exchange rate.

Los Angeles County, with slightly more than 10 million residents, has a GDP of $554 billion, more than double that of Greece. Continue reading

Is Russia Preparing to Move to the Gold Standard?

Russia isn’t alone in thinking what happens to those who attempt to abandon the U.S. Dollar as a means of exchange, which was likely the real reason for both wars in Iraq, plus the toppling of Libya, Egypt, so on and so forth.

It’s also highly interesting to note that this falls in line with what was described by retired General Wesley Clark as the U.S. plan to overturn seven countries in five years (see also HERE) in order to keep the next superpower from rising. Although that timeline may not have been 100% exact, schedules do change to fit needs in an ever-changing environment, countries have without a doubt been overturned and destroyed in a bid to remain on top.

The fight to undermine and dethrone the United States by Russia (and China) has been going on for quite some time and quite successfully under the radar of ordinary citizens.

 

An article by Mises Institute contributor Marcia Christoff-Kurapovna believes that now is the ideal time for Russia to introduce a gold-backed ruble.

Mises Institute contributor Marcia Christoff-Kurapovna believes that Russia may be in the process of planning for the introduction of a gold-based currency, and would be better off for it.

“Though a far-fetched idea at first glance, many factors suggest that remonetization in gold may be a logical next step for Moscow,” Christoff-Kurapovna notes in an analytical article published Friday on the libertarian think tank’s website. Continue reading