Dr Evil Ransom Demands Mirrors European Debt Crisis
There is no simpler way of putting this, but thanks to Dr Evil common folk can understand the true measure of each stage of the European debt crisis.
Dr Evil, asked for a million dollar ransom, but he does not yet get it that a million dollars is NOT a big deal anymore. Just like Greece. Greece is easy to bailout and push around.
However asking for 100 billion dollars (like Spain or Italy) they effect is more devastating.
Currently the Germans are beating up Greece very hard, there is NO way that either the Italians or the Spanish will roll over in such a similar way (and the Germans know it) , they will go the Iceland way and default. Germany knows massive bailouts for Spain or Italy is just not going to fly with the German voters. Thus the Euro will be over on the announcement the first sovereign default (Greece if they grow a pair, Portugal, Italy or Spain).
The massive short positions on the EURO know that this is a sure thing. The US dollar will do this in the next 1 to 12 months. Subject to the order of events, money printing or country defaults. (Of course all anti dollar assets will react to the negative)
Or you can trust these folk running your central bank (Fed Reserve/ECB)
Just a bit of fun...