In 1996, Warren Mosler published ‘Soft Currency Economics’, in which he tells the tale of a particularly successful trade involving Italian Government bonds, conducted during his time at Illinois Income Investors (a firm he founded himself).
This also illustrated the folly of the Euro. Italy voluntarily gave up the ability to issue its own currency, ceding its economic sovereignty.
Absolutely Michael. Just look what happened to Greece - who payed a very high price for adopting the Euro. Once you see it - you can't unsee it.
This also illustrated the folly of the Euro. Italy voluntarily gave up the ability to issue its own currency, ceding its economic sovereignty.
Absolutely Michael. Just look what happened to Greece - who payed a very high price for adopting the Euro. Once you see it - you can't unsee it.