What will happen if Greece or Spain default?

Discussion in 'Economics' started by DrPepper, Dec 16, 2009.

  1. When Dubai defaulted, the dollar rose and gold fell sharply. If more countries default, I wonder if the same thing will happen. Maybe that is why Rogers is buying dollars. It is hard to believe that our economy can be so bad, our debt unsustainable and our money supply exponentially increased, yet the dollar rises in value simply because is considered a safe haven. It seems to me that gold would be seen as a safe haven during financial turmoil. Reportedly, several countries are at risk of default: