Take this one with a huge grain of salt, but there are market rumors that Greece has been printing drachmas in the event that it is forced out of the euro (or leaves of its own accord).Variations on this theme have made the rounds several times in the last few weeks.
The scarier rumor would be that the Germans are printing deutsche marks…
Given the very poor options before the Greek government (deep austerity, huge tax hikes, civil unrest following the present path), leaving EMU seems like a reasonable option…
File that one away and don’t trade off it, but consider it as a sign of how unhinged the market has become…
