Debt Wars Looming?

On ZeroHedge, Leo from the PensionPulse posted a run through on the Debt War Looming.  A great look at this complex and complicated story of who owes who how much and at what interest rate.  But as is the case in many of these valuable insights comes a comment that makes sense to me.

by Canucklehead
on Sat, 04/10/2010 - 15:39
#294947

If the Greeks default, the euro will assume a long term upward trajectory.  That would likely result in defaults in Spain and Italy as the Euro increases in strength.  It is reasonable to expect the United States to pull back from the current printing press as domestic politics will follow the German lead.

Everyone is looking for value, be it gold, commodities, or stable wealth holding currency.  The Germans understand this.  The Greeks et al don't.