... once Greece reverts to the drachma, after the extreme economic chaos that results, Greece will benefit from a substantially weaker currency that is the missing link in allowing the country to pull out of its debt deflationary spiral.
The author of the above, Edward Harrison, is an extremely intelligent guy. I have to say though that the Germans need their heads examined if they let what Edward is saying happen. If Greece leaves and quickly prospers, one nation after the next will do the same (at least try to).
The German people are looking at the EU as if it's a household unable to create debt-free money. It's locked into the banksters' spell on them. Germany can create debt-free money if it wants to and fund the rebuilding of Europe that it should want to see and without a dime of inflation.
The reason they don't know this is because the banksters see to it that it is not allowed in the mainstream press. If it were to be covered, the banksters would be sure to have their talking heads quickly pooh-pooh it. The average Joe would not know the monetary-reform possibilities and would "leave it to the expert" banksters and "economists."
If increases in currency are pegged exactly to real growth, there is zero price-inflation as a result. All that Germany would need to do is target funding of real-growth projects. That's all!
Look, they are afraid of the inflation of the Weimar Republic, but even Hitler spent Germany out of a deep recession. He spent it on the wrong thing: war. However, the same huge relative increase in productivity could be had without any militarism involved at all. In fact, the more the military were left out of it, the greater the gains would be.
Please wake up, Germany. Please stop being myopic. See the big picture. Europe could be a peaceful, prosperous, clean, fair, wonderful place without any unemployment or poverty or inflation or deflation. It would be very simple, actually.
Computer software and hardware could regulate currency amounts and flows in real-time, as they are happening. The citizenry could vote for whatever projects need doing. The treasury would simply fund those projects. There would be one currency and one bank that would be the treasury. All ships would rise with the tied. There wouldn't be any need for debt, whether private or public. There would be no interest on debts because there would be no debts.
Everything I've just said about Europe could apply right here in the US as well. We once had United States Notes that were nearly right, as far as currencies go. They were just deliberately made weaker than they should have been because the banksters knew that they wouldn't be able to continue bleeding the hard-working people if United States Notes were allowed to completely take over and be used to pay off the National Debt, etc.
So, what do you do when you read this, go into a trance, not hear a word, allow conditioning of you by the banksters to prevent you from repeating what I've said, linking to it, citing it, asking questions about it, etc.? Why not shake off the stupor instead?