Wednesday, July 13, 2016

Greece does not need to leave the Euro to declare bankruptcy

Greece is a sideshow that could turn into the main show because politicians keep making mistakes. What is best for Greece is to declare bankruptcy, stay in the euro, and start over. They will never be able to pay their debts. 

We’ve had states, cities, and counties go bankrupt, and they didn’t leave the U.S. They reorganized and started over. You don’t have to leave just because you go bankrupt. If Greece went bankrupt but stayed in the euro, we’d have a bit of a trauma but we’d move on. If they make Greece leave, it would turn into the main show.

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.