Text 19563, 36 rader
Skriven 2011-05-31 11:16:12 av Robert Bashe (2:2448/44)
  Kommentar till text 19543 av Ward Dossche (2:292/854)
Ärende: Gold
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Ward Dossche wrote to Robert Bashe on Tuesday May 31 2011 at 00:21:

RW>>> 'I find it odd that the country with the 14th largest gold bullion
RW>>> reserves in the world is/was on the verge of bancruptcy sometime
RW>>> earlier this year.'

RB>> You aren't the only one to think this, or to point it out. I've seen
RB>> similar comments in German newspapaers. And most were critical of
RB>> paying German money for a bailout of such a rich country.

WD> Except a pile of gold, Portugal doesn't have that much to offer. Not
WD> dramatically much export other than wine and olives. Their extended
WD> fisheries are for local consumption. Seasonally there's also tourism.

WD> It's the same story as some other Mediterranean countries ... not much
WD> of a going concern.

All true, but as in the case of Greece, a matter of _will_, not of _ways_. The
Greeks priced themselves out of the tourist market and left that to the Turks.
Portugual has a lot to offer, but is a long way off and hasn't developed it's
tourist potential anywhere near as much as Spain. As for exports, nobody
expects either country to become an industrial powerhouse tomorrow - but a
little effort could enormously increase the exports of what they have.

WD> Gold isn't enough anymore to back a currency, there has to be
WD> something more.

True, but it's like a beggar with several EUR 500 notes in his pocket asking
for money from passers-by because he's _so_ poor. At some point, the passers-by
aren't impressed anymore and tell him to spend his own money before asking for
that of others.

Cheers, Bob

--- GoldED+/W32 1.1.5-0613
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