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Will gold become the new global currency?

Posted on 21 June 2011

This weekend, the E.U. Ministers promised the next tranche of money to Greece and a second bailout package if Greece enforces another bout of austerity on itself. Does this clear the E.U. of its obligations? They have not yet finalized these terms and await the next episode in Greece of its acceptance of this principle.
A default by Greece will set off a chain of events that would bring down important banks as well as Portugal, Ireland and Spain, with Italy stepping onto the same stage. Furthermore, a default shows that even governments have to pay their bills, if they want the financial system to work……………………………………….Full Article: Source


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