European investors are in panic and demanding higher interest from Greece (11%). On the other hand, they are willing to lend money to Germany for lower interest (yesterday it went down 0.6%). Also the British pound and the American dollar are benefiting. And dont forget gold.
In a crisis, the strong get stronger.
7 comments:
Qui bono? is often a fool's question. When the planes flew into the WTC, there were idiots who asked that question, concluded it was the Zionists and therefore assumed that the plot was a Zionist setup. Any time you have a tragedy, there are winners as well as loser but it does not necessarily follow that the winners were the cause of the tragedy - e.g roof shingle manufacturers do not cause hurricanes.
K
No, but we just want to learn from the opportunists!
Anon.
Qui bono question does not imply cause and effect. In every crisis there are people who benefits: for mammals, the death of the dynosaurs was a present from Heaven, literally.
But usually qui bono is meant to imply causation. The idea is that you can be Sherlock Holmes and figure out who did something (or was the hidden power behind the scenes) by figuring out who stood to benefit the most - if a man is murdered you suspect the person who holds a large life insurance policy on him. Obviously in the case of natural disasters this is a meaningless inquiry. But good police work means that while you investigate those with a motive you do not jump to conclusions - very often the person with the most to gain is still completely innocent. The problem with conspiracy theorists is that they are often too willing to fill in missing links with their own imagination. Y benefitted from event X so Y must have caused event X even though we have zero proof that they caused it. Especially if it is more likely that Z caused the event and we are partisans of Z and it would make us look bad if the true cause was Z. So we shout "qui bono" to cloud the situation and deflect guilt. Already I have heard that the the left in Greece is saying that the people who set the bank on fire in Greece were agent provacateurs sent by the government to discredit the left. Killing those innocents benefitted the government by shifting public sympathy away from the Left so the government must have sent the killers, or delayed the response of the fire brigade, etc.
K
The dollar benefits from the wobbliness of the Euro, but from there to causation the way is long.
If Bush was still President then the way would be shorter among the conspiracy theorists. Did not America once support the Greek junta and is not therefore everything that has happened in Greece ever since America's fault?
Again I say the Greeks are stuck at the emotional level of children. There was an article in the NY Times today (usually liberal fishwrap). They interview various random Greek demonstrators to seek their views of cause of the crisis - it was the rich, the politicians, the IMF, the Germans, the Americans, Goldman Sachs, etc. Not one person interviewed admitted any kind of personal responsibility whatsoever nor thought that they should be required to make any personal sacrifice as a result (the opposite - since the crisis was not their fault at all, they should not have to suffer in any way). It was all on the " the dog ate my homework" level. They are the Palestinians of Europe in their level of denial.
K
Koko says:"I thought deNial was a river in Egypt, but now I learn it is in Greece".
Anon.
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