Sunday, March 22, 2015

Greece Cannot Pay Its Debt

Greece cannot fulfill its obligations, it is physically impossible. It is like the United States. The United States can never pay its debt. I mean, there are various ways to pay your debt, you can print money and make your debt worthless. That is what Russia did when the Soviet Union collapsed. There are many ways to pay your debt. My advice is to Greece go bankrupt, declare bankruptcy and their creditors take the haircuts. I would stay in the European Union if I were Greece but they may get thrown out if something like that happens. Greece cannot pay its debt. This is a charade.

Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).