A thought on the potential for Grexit:


By Tir Na saor

If Greece leaves the Euro and resurrects the Drachma, the woeful state of its economy and its current inability to pay off its bailout debt would render the Drachma extremely weak. This would take place, however, against the backdrop of plummeting prices in the Euro as well.

So what if Greece broke from the debt-based system most currency is now built upon, whereby money is created out of then air and loaned out at interest to artificially inflate wealth (usually at the consumer’s expense), and instead pegged the Drachma to the gold-standard?? This would give it an immediate boost and, irrespective of Greek debts should in theory push it past the Euro as a currency trading in gold will naturally be worth more than a currency trading in debt.

With the Drachma soaring beyond the Euro it would force other periphery European and Middle-Eastern economies, notably Switzerland, the Scandinavian kingdoms and the Commonwealth of Independent States among rising Arab economic powers like Turkey, to start trading in Drachma over the Euro – further eroding both the real-term value of the Euro and its relevance on the world stage. This would give the Greeks a superior vantage from which to renegotiate with the EU – the Drachma, by then, will be far stronger than the Euro in which their debts have been accrued, and so Greek debt will be cheaper to pay back.

Assuming any of the above is workable in real terms, the very same could work in Ireland’s favour too – resurrecting the Punt and tying it to the gold-standard to give it a boost over the Euro. For as long as people are willing to stand idly by and allow the Gardaí to serve as the stormtroopers of the Blueshirts, and for as long as the Irish people are happy to remain wilfully ignorant of basic political realities (that applies as much to Fine Gael-voting Statists as it does to Armchair Republicans speaking in vague strokes about the “England” and the “Six Counties” while all around them babies starve to pay back German bankers), this is, of course, a pipe dream.

Real patriots in Greece, Spain, France and Britain will free Ireland. We’ll just watch from the sidelines and take all the credit.