Skip to main content

Cash is King - and Greece

The Greek referendum will be an interesting exercise. At some point the Greek government runs out of cash. After that point no-one gets paid. I suppose they can start by holding back on big payments, but after a point salaries are not paid, pensions are not paid, suppliers are not paid.

Cash becomes "king" because no-one will give the government any credit unless they are forced to.

The government could print a "new drachma", but I am not sure what that would be exchangeable into.

They cannot simply refuse to pay the outstanding debt because the other countries would not accept that and they cannot isolate themselves.

If they are going to hold a referendum they will need to do this quickly.

Comments

Jake Maverick said…
you mean like Russia did once? seemed to work out alright for them....

and i thought cash had been made illegal, effectively, in Greece? tryout there before eveywhere.....you can't get more fascist than that!
Jake Maverick said…
please let me have access to money/ bank account again...or failing that guns so i can consider doing a Moat?
it's a, b or c

Popular posts from this blog

Its the long genes that stop working

People who read my blog will be aware that I have for some time argued that most (if not all) diseases of aging are caused by cells not being able to produce enough of the right proteins. What happens is that certain genes stop functioning because of a metabolic imbalance. I was, however, mystified as to why it was always particular genes that stopped working. Recently, however, there have been three papers produced: Aging is associated with a systemic length-associated transcriptome imbalance Age- or lifestyle-induced accumulation of genotoxicity is associated with a generalized shutdown of long gene transcription and Gene Size Matters: An Analysis of Gene Length in the Human Genome From these it is obvious to see that the genes that stop working are the longer ones. To me it is therefore obvious that if there is a shortage of nuclear Acetyl-CoA then it would mean that the probability of longer Genes being transcribed would be reduced to a greater extent than shorter ones.