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  • 3 years ago
The Coming Currency War

The Coming Currency War

This weekend we saw the Greek people reject a plan that would have staved off a collapse of their economy.  Now what? Do they leave the euro? Default on the debt? Does the EU capitulate and fund their failing economy anyway? There's a lot to talk about.

What I find most interesting is how it all works together. You see, Greece in on a kind of gold standard. While each country is independent they share a common currency. That means none of them can unilaterally decided to inflate.  This is important for several reasons. 

In todays episode I use Japan to explain why all eyes are on Greece and what it could mean for other failing eurozone countries if Greece does default or chooses to leave the eurozone. 

Japan has suffered from 20 years of flat growth and deflation. They are now embarking on what will be the biggest economic battle in recent memory.  It's decision to inflate it's currency will have far reaching effects across the globe.  From China to Europe, to the U.S. Many strug