http://www.reuters.com/article/2011/06/30/us-greece-gold-idUSTRE75T5BL20110630 The opposite effect of what we were expecting although there is a section about wealthier Greeks sending money abroad and buying gold coins.
Yeah...lets not forget that the mediterranean part of Europe still has a peasant class. There's a huge divide between rich, poor and the middle class. I'm pretty sure the focus of this story is on the poorer citizens selling their gold to get by...they've been doing it for generations, regardless of the economic circumstances. Greece, Lebanon, Italy they all spruik about how fantastic and cheap their fresh produce markets are. And then you see some broken old poor farmers responsible for the produce...their backs stooped towards the earth they've been working their whole lives ...and it's then that you see the cost of such cheap produce. It made me sick!
You don't need to feel sick. Nobody is making them sell at low prices. Its a (mostly) Free Market, and they have no real bargaining power.
