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It has often been said that there are two factors that influence investment of capital: fear and greed. ¬†I believe there is a third door available to those who don’t like to identify with either. ¬†¬†Significantly less emotional than the first two is wise¬†stewardship. ¬†Yes, we all want a safe place to shelter our resources and earnings. ¬†But if it is too safe it risks becoming moldy, like a bumper crop of grain stored in a damp basement. ¬†When earnings are parked in such spots they are removed from circulation, and idled, are rendered almost useless. ¬†O, that there were parking fees routinely charged for such fearful handling of value, as an incentive to keep the energy flowing! ¬†

Today’s interest rates on savings are certainly in the basement! ¬†But between Friday June 30 and Monday July 6 we will have good opportunity to apply resources to a series of alarming situations. ¬†The first moment arrives tomorrow, as a replay of Y2K: ¬†markets need to add one second to the trading day. ¬†The next will arrive by referendum. ¬†The Greeks have a choice to become a perpetual underclass, or to go bankrupt. ¬†This choice has roiled markets. ¬†The scenario has come about due to investment bankers who, back in 2010, massaged the Greek application for EU membership, at considerable profit to themselves. ¬†Stepping up to buy securities is a way of refuting this fear. ¬†We can suppose that the present fear suggests the possibility of bank failures around the global. ¬†But know this: ¬†commerce will continue. ¬†

A Nobel economist who has been largely correct about minimal likelihood of inflation (while the fearful foolishly bought gold as a hedge against inflation that never came) and the folly of austerity since 2007, is urging Greeks to vote NO on further austerity. ¬†I do think he is right on this also, and hope they heed his call. ¬†The opportunity really is for the Greeks to call the bankers’ bluff. ¬†Bankruptcy is better than knuckling under to raw power. ¬†Perhaps the Germans and financiers might remember a bailout known as the Marshall Plan which mercifully rescued them from economic disaster after WW2? ¬†And maybe we each should unpark some funds to buy up a flood of fear.