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About Me

Retired but always looking for new challenges.

Tuesday, June 30, 2015

Greek Default

The 30 June 2015 was default day. It has been obvious that this day has been coming for a number of years. This has not been a purely Greek fault and  the main drivers  such as France and Germany have been responsible for much of the pain Greece will now have to bear. The Euro monetary unit is certainly not based on democracy as last year when Greece was first entering a greater discomfort zone and they proposed a  democratic referendum to decide if they should break ranks with the Euro Unit ,draconian action was promised against  the then government, who were then incidently pro Euro.  So resentment was built up against the union. Obviously the main drivers of the Euro monetary unit wanted give their private citizens time to unwind their exposure to Greece.
Now towards the end of the saga they seemed to impose more impossible conditions upon Greece, knowing full well that Greece could not meet them so as to shift the blame fully to them and away from the Union. Greece gave in on most points ,but then always more was required.
  To say that Greece only represents about 4% of the Euro trade and will have only minimal effect upon the union in a break up is also not true. Do remember the citizens and their government have withdrawing Euros from those been injected into their banks which might now might be billions.
So when Greece returns to their original currency,  which say they devalue by 40% then they will still have the Euros which could threaten the stability of the European Union. These moves of the major countries in Europe are not lost on other Mediterranean  countries I am sure.
 Another worrying aspect of this debacle is that Greece has always been a staunch member of Nato.  No doubt Russia would help Greece and those ties would weaken!

Monday, June 1, 2015


Sure there is always some conflict going on some where, but usually these can be ignored as they do not affect us directly.
How ever when the largest powers start actively increasing their military hardware ,then we have to take notice.
Rest of this post is beneath updates.
3/6/2015 Real Estate update see index above.
8/6/2015 My Specialist List Update.
10,15/6/2015 smaller cap shares transfer to update above.
The former communist countries namely RUSSIA and CHINA have slowly being moving to  more open societies in the last decade and they have generally thrived. Now how ever  as the capital systems start to struggle due to the world wide recession over the last five years, these countries find they can not meet the aspirations of their restless citizens, as they demand even more freedoms.
Thus Russia has become embroiled in a war with a former part of their Socialist Republics namely Ukraine. As the western countries generally support the latter ,they have whipped up patriotism and suppressing freedoms in Russia.
China on the other hand have started on a massive naval build up, supposedly to protect their coastal integrity ,by claiming islands that belong to other countries , well beyond their borders as their own .How ever this could eventually lead to them taking a greater stake in the mainland, land which is part of Russia now. Russia might regret it's stance to the West, a fact which is not lost to their leadership I am sure!
It is time to settle the Ukraine crises in a manner that is fair to all.
NATO is upping their vigilance after some air intrusions by Russia and the US has promised to help Far East nations with their land integrity.
We  South Africans might have signed a treaty with the BRIC countries ,but we had better stay neutral as 70% of our exports go to the West.

All this might have a good effect upon mining strategic metals and minerals as both sides will want to buildup reserves as quickly as possible.