Articles related to drachma
Philip Judge - Anglo Far East
The Metal of Hope 
In history gold alone has been the money of Kings. However, throughout most of recorded time there has been a metal far more important to the average man than gold. In the ancient of days it was silver alone that could provide the means for a slave to save and eventually purchase his freedom which is why silver became referred to as the Metal of Hope.
Friday, July 17, 2020
Mike Hewitt - Dollar Daze
  Hyperinflation around the Globe 
Angola (1991-1999) Angola went through the worst inflation from 1991 to 1995. In early 1991, the highest denomination was 50,000 kwanzas. By 1994, it was 500,000 kwanzas. In the 1995 currency reform, 1 kwanza reajustado was exchanged for 1,000 kwanzas. The highest denomination in 1995 was 5,000,000 kwanzas reajustados. In the 1999 currency reform, 1 new kwanza was exchanged for 1,000,000 kwanzas reajustados. The overall impact of hyperinflation: 1 new kwanza = 1,000,000,000 pre-1991 kwanzas.
Wednesday, April 15, 2020
Egon von Greyerz - Matterhorn AM
The dollar is dead but the world doesn’t know it. It has been a slow death and the final stages will be very painful for the US and for the rest of the world. The US empire is finished financially and militarily. Nixon was convicted for the wrong crime It all started with the establishment of the Fed in 1913 and escalated with Nixon. For anyone old enough to still remember him, they will think about the Watergate scandal. This was corruption and bribery at the highest level in the Nixon administ
Friday, October 20, 2017
Jeff Clark - Goldsilver
Top Ten Reasons I Buy Gold Silver [#10] - The One Word Every Fiat Currency Faces: WORTHLESS
You may not know how old your national currency is, or even know what the word “fiat” means, but the following pictorial will tell you what’s happened to all of them.No fiat currency has lasted forever. Eventually, they all fail.That’s the message from Mike Maloney in the first installment of his band new video series, The Top 10 Reasons I Buy Gold and Silver. We’re counting down his Reasons, and #10 is that “all the world’s currencies are fiat, and fiat currencies always fail.”The word “fiat” s
Friday, September 15, 2017
Graham Summer - Gains Pains & Capital
Venezuela Enters the Record Book, Officially Hyperinflates
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Venezuela’s inflation has officially become the 57th official, verified episode of hyperinflation and been added to the Hanke-Krus World Hyperinflation Table, which is printed in the authoritative Routledge Handbook of Major Events in Economic History (2013). An episode of hyperinflation occurs when the monthly inflation rate exceeds 50 percent for 30 consecutive days. Venezuela's monthly inflation ra
Monday, December 12, 2016
Mark O'Byrne -
Euro “Will Collapse” As Is “House of Cards” Warns Architect of Euro
The Euro “will collapse” as it is a”house of cards” warned Otmar Issing, the founder and creator of the euro in an extraordinary interview on Monday. Paper currency – Euro paper notes and Greek drachma note In the explosive interview with the journal Central Banking, Professor Issing, said “one day, the house of cards will collapse”  as the European Central Bank (ECB) is becoming dangerously over-extended and the whole euro project is unworkable in its current form. The founding architect of the
Tuesday, October 18, 2016
Mish - Global Economic Analysis
Greece “Demands” Debt Relief, Owes Troika €11+ Billion by July
Irreconcilable Positions Greece owes the Troika over €11 billion in bailout repayments through the end of July. Greece is unable make those payments unless the Troika releases the funds. Position 1: “We need a big debt restructuring, no more kicking the can,” says Greece’s Minister of State. Position 2: Germany offers a possibility of unspecified debt relief, at a future point in time, only if necessary. First, Greece must make another round of budget cuts on top of the pension cuts its just mad
Sunday, May 15, 2016
Tim Iacono - Iacono Research
Tuesday Morning Links
MUST READS Facebook: Political bias claim ‘untrue’ – BBC The Saudi oil ministry’s new look – Washington Post As trouble piles up, online lenders pull back – LA Times World’s Most Extreme Speculative Mania Unravels in China – Bloomberg China Trade And The Inevitability Of Systemic Reset – Alhambra Partners Why China’s Debt Crisis Will Differ From Japan’s – Epoch Times Britain must back the IMF to free Greece of its punishing austerity – Telegraph ‘Everyone’s outraged’: angry Greeks foresee Grexit
Wednesday, May 11, 2016
Egon von Greyerz - Matterhorn AM
The Greek Tragedy Is A Textbook Debt Deflation
“The Matterhorn Interview – September 2015: Michael Bernegger” Podcast interview: (32 mins) Prior to yesterday’s Fed anti-deflation policy stance Lars Schall talked with Swiss financial analyst Michael Bernegger in an exclusive interview for Matterhorn Asset Management, about his paper “The Greek Tragedy and its solution“ that offers a counter-consensus analysis of Greece’s economic crisis. Another topic in their discussion is the growing economic challenges for China. The full transcript of th
Tuesday, September 22, 2015
Mish - Global Economic Analysis
Majority of Greeks Now Say Euro Has Harmed Greece
A Gallup poll conducted in May and June but just released today shows Majority of Greeks Say Adopting Euro Has Harmed Country As the Greek debt crisis came to a head again earlier this summer, it's no surprise that leaders in more solvent eurozone countries expressed doubts about Greece's participation in the monetary union -- but these doubts are also widespread among Greeks themselves. A majority of adults in the country -- 55% -- said in a poll conducted May 14-June 16 that they think conve
Monday, September 7, 2015
Mac Slavo - ShtfPlan
“Enduring Appeal of Cold, Hard Cash”: Facing Crisis, Demand for Physical, Not Digital, Money
The cashless control grid may still be coming, but it is not going to replace cash anytime soon. Though millions of people have started using digital devices to pay for goods and services, the appeal of physical cash is soaring, not fading away. Outlook for currency production shows an astounding 5 per cent increase per year for the foreseeable future in the printing of bank notes for currencies across the globe. That’s because, in pure and simple terms, people are demanding cash in times of cri
Monday, August 17, 2015
Andy Hoffman - Miles Franklin
As usual, I have extremely timely, eminently actionable topics to discuss. And while I’d love to simply talk “big picture,” the collapse of history’s largest, most destructive fiat Ponzi scheme is moving too rapidly to be complacent. Trust me, I’d love to take a well-deserved rest – and man, is it well-deserved. However, the so-called “race to the finish” is on; and as I not only love my job, but feel compelled to do it as well as possible, there’s no way I’m going to slow down any time soon. In
Thursday, July 30, 2015
Graham Summer - Gains Pains & Capital
China and Greece Signal a New Round of Deflation
Stocks rallied today because the Fed meets today and tomorrow and traders are conditioned to play for a rally into Fed meetings. Also, stocks had fallen for four days straight prior to this and so we were oversold in the near-term. The larger picture concerns the bursting of China’s stock bubble as well as the ongoing 3rd Greek bailout drama. Regarding China, anyone who actually bothered performing real analysis could have seen that the economic data coming out of that country was totally bogus.
Tuesday, July 28, 2015
Andy Hoffman - Miles Franklin
It’s first thing Monday morning; and clearly, the top thought on my mind is the question posed by Saturday’s must hear Audioblog, “has the ‘big one’ commenced?”  To which, in my view, it should be difficult for anyone with an unbiased, realistic view to answer anything but YES! And by the “big one,” I truly mean BIG, per what I have been anticipating since 2011’s “global meltdown II” – i.e., the “point of no return” when the world’s “leading” Central banks realized their post 2008 money printing
Monday, July 27, 2015
James West - Midas Letter
Greece, China, and Debt as the Tool of Enslavement
I wonder how much more Greece’s laughable defiance cost it relative to how much it would have cost to just roll over in the first place? That accounting will be a while coming, but rest assured, it will be a politically volatile and useful statistic in the future for a challenger in Greek elections. Interestingly, the best Euro creditors could exact out of Greece from privatization of government assets was $3 billion – barely an interest payment in the grand scheme of things. Its always been u
Monday, July 20, 2015
Clive Maund
The Humiliation and Subjugation of Greece
Europe is a fascinating place, but not as interesting as it was before the European Union came into existence. Older travellers may recall the fun of going from one European country to another, with each having its own currency and banknotes which you could scrutinize with interest as you relaxed at various cafes or restaurants. The national stereotypes could still easily be found - Frenchmen on bicycles dressed in blue and white striped shirts and black berets pedaling around selling strings of
Tuesday, July 14, 2015
Egon von Greyerz - Matterhorn AM
The Elite is leading Greece and the World to Perdition
KWN weekly – July 12, 2015 Podcast interview (10 min) In my King World News interview published on July 12, I stated that the Troika and the US will do whatever they can to keep Greece in the EU. To let Greece leave would be the final nail in the European Union coffin. That would start the dominoes of Italy, Spain, Portugal and France falling as well as the European banks. And it would prove that this artificial political and monetary union is a total travesty which was doomed to fail even befo
Tuesday, July 14, 2015
Mark O'Byrne -
Greeks Can’t Tap Cash, Gold, Silver In Bank Safety Deposit Boxes
- Greek capital controls also prevent access to contents of safe deposit boxes- Restrictions on safe deposit access doesn’t protect banking system unless contents confiscated- Readers should heed warnings by Marc Faber and Ian Spreadbury of Fidelity- Important to own assets outside banking system and not in bank safe deposit boxes- Own physical bullion in private safety deposit boxes and the safest private vaultsCapital controls have been in place in Greece since the start of the month to protec
Tuesday, July 14, 2015
Bill Holter - Miles Franklin
Piece by piece or all at once
The Greeks voted “no” and should be applauded for their valor!  Knowingly or not, their no vote has added extra cards to their hand.  They now have more options than they would have had with a yes vote.  In fact, Greece still has the only option they would have had with a yes vote (cut a deal for “more aid” and austerity), plus many other which pressure the lenders.  I must say, a “vote” coming from the cradle of democracy CONTRARY to what the banksters wanted is a breath of fresh air! Now what?
Wednesday, July 8, 2015
Julian D. W. Phillips - Gold Forecaster
Gold Silver Market Morning
Gold Today -New York closed at $1,155.80 down $13.10 with Asia and London holding it there. The dollar was weaker at $1.1038 against the euro from $1.0970 and the dollar Index was lower at 96.45 down from 96.87.The LBMA gold price was set this morning at $1,154.25 down $12. The euro equivalent was ?1,045.71 down ?17.22. Ahead of New York's opening, gold was trading in London at $1,155.10 and in the euro at ?1,046.14.Silver Today - The silver price fell to $15.10 down 59 cents in New York. Ahead
Wednesday, July 8, 2015