Chillin' out till it needs to be funded
Greek Farmers become the first constituency to officially become the ‘Wanted’ headlines in the US as major newspapers catch on to the PIIGS story, this time the Euro is being destabilized by Greece’s petty cash politics.
But though this is not so true, with Greece’s additive effects only marking its 1 bp on the Euro trade, the winding down cary trade in the dollar is as usual accelerating the spiral and the Euro is at its weakest everyday. No one from the Euro zone, is going to extend Welfare Economics to another national constituent of the Euroland nations. However Agrarians have benefitted a lot in the last 10 years giving heart to ‘Central’ policies for the Euro and there is more Euro on the horizon in the second half.
We are betting on that recovery, with continued portfolio investments to shore up global trade, Dollar unbidden, but still the reserve currency for all. And Gold and Oil are still down..