Taking stock of the Euro Crisis on the Keiser Report (video)

I always enjoy being interviewed by Max Keiser, despite our differences on a number of issues (the merits of the Gold Standard, Bitcoin – gold’s e’reincarnation), I beg to differ from him on his hypothesis that Greece fell to a well thought out conspiracy. There was no such thing. Just a badly designed common currency whose inevitable fragmentation gave an opportunity to a multitude of spivs, corrupt politicians and bankrupt bankers to help themselves to public assets and push whole populations into permanent poverty (so as to preserve their own privileges). In this interview Max waged an accusation at ex Greek PM, George Papandreou, insinuating that the latter bet on CDSs that were later triggered as a result of Greece’s bankruptcy (also known as PSI) (go to 4.’49” of the video). This allegation I know to be false, malicious and defamatory (hear my reply on 6’38”). As perhaps the most ardent critic of Papandreou I think I have the moral authority to dismiss this rumour as unfounded. And to suggest that those of us who want to chastise George Papandreou for his inept handling of the modern Greek calamity, his almost criminally negligent approach to the Greek crisis, are seriously undermined by such false accusations.