7 May 2011

The Big Wobble: Will Piggi fuel the Euro meltdown.

The Euro meltdown continues. Will bankers greed reduce the power
 of the currency to junk status.  Has this ever happened before.
 When you owe someone a dosh of the old spondulicks it is in the interest of the lender to keep the debtor in business. Crushing his ability to repay usually results in a swift disappearing act. In the case of piggi (Portugal, Ireland, Greece Go Independent) running out of the coral and into the woods, the lender will be faced with a redundant bacon slicer. And the piggi will stay out of sight until the slicer gets so rusty and so unused it becomes worthless.

So let it be with the Euro. Repaying debts marked up in Euros will put the Piggi in the woods firmly behind those who wish to break the power of the lender’s bacon slicer.

Who might that be then. Oh Mr Sterling, Ms Dollar, Master Yen, Swiss cheese et all. French and German politicos and their greedy banking masters should listen to the sound of Molotov Cocktails burning their house down. For like King Canute they will not stop the sea.

The tide of public anger sweeping ashore says loud and clear, Rome was not built in a day and neither will acquiescence to become slaves to a bankers income. Whose army is going to collect the taxes to repay Jean-Claude Trichet. This is not what people voted for in 1973, 1981 and 1986

Reducing the value of the Euro to junk status will not be so difficult if Spanish and Italian people join the walk to the woody woody.