I have been busy answering old emails. I still have
hundreds to go (I really fell behind while I was working on video series about The
ESF And Its History). In a couple more days I should finally be
caught up.
On the news front, it is worth mentioning that gold broke
over $1900. I still recommend keeping your cash in gold (or silver)
rather than dollars.
What do you think?
Southern Europe Financial Zone
1.Portugal, Greece, Spain, Italy and Ireland all leave the Eurozone at once, and default on their loans
2.They establish their own currencies, at once.
3.Each currency is backed by a basket of commodities and vouchers from that country. These commodities would represent the goods and services required by the elderly or poor population such as wheat, olive oil, dairy, wood, bricks, vouchers for routine dental and medical care, and energy. In this fashion, each new currency would actually be backed by commodities such that if there were a run on that currency, it would produce jobs and prosperity.
4.Each country would have a tax rate very favorable to corporations, and a small free port, in the manner of Hong Kong.
5. Travel within the zone is passport required but unlimited tourist visa. Major limits on work permits and residence permits. Assimilation expected. Work permits mostly for folks who start businesses and create jobs.
6. Tax policy is set to reimburse zone corporations for currency transaction expenses within the zone. Even though there are five different currencies, it should be almost expense free to do business in the other zone currencies.