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Author Topic: If Grexit had happened  (Read 179 times)

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scepticus

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If Grexit had happened
« on: May 21, 2017, 01:39:12 AM »

Mention in the forum of the Bitcoin reminds us that  any currency is , in fact, really  only a Promise  to pay  - and promises are not always kept.
 If every one agrees to accept a particular currency in exchange for Goods and Services then it becomes a valid currency.
Thinking “ outside the box “, if Greece had decided on a Grexit it could have  had it’s own  internal currency - say the Drachma  .If accepted by all Greeks then an  official Bank of Greece could print it’s own money  for internal use only. As banks lend more than their own capital then the new Bank of  Greece could issue notes to about 10 times, or more, whatever reserves it had . This would help to stimulate it’s economy rather than accept austerity . . Exports  and Tourism would  be paid for in , say, Euros and used to pay for imports .
The   value of the Drachma could be  linked to the Euro.
Just a thought to break the stranglehold the finance industry has over countries as well as industry and commerce -  and we “ common people “ .


 
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MrPerfect.

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Re: If Grexit had happened
« Reply #1 on: May 25, 2017, 06:50:05 PM »
If they follow your advice today, tomorrow they will receive presents at the form of atomic bombs.