There is so much good material waiting in the cue on the subjects of Greece, sovereign debt, and currency speculation, but here's the piece I want to share with you today.

It comes from Keith McCullough at Hedgeye and his post takes on the idea that, once again, "evil speculators" are somehow to blame for the fundamental economic problems of a country's own making.

An excerpt from, "The Principled One":

Currency trading with the euro

The euro continues to struggling in forex trading on the currency market, with a number of concerns weighing. The 16-nation currency is still dealing with the debt problems in Southern Europe -- especially Greece.

One benefit of the Greek crisis is it appears to have caused a country or two to rethink what they have been doing.  While the US, UK, and Japan are happy to simply print money (devalue the savings of their citizens) to solve their problems, those countries stuck inside the European Union and now in a common currency, no longer have that "out".  [Dec 13, 2009: Bond Vigilantes Prowling Europe]  Hence they actually have to make hard decisions rather than the infi

Jim Rogers tells Bloomberg TV that Greece should go bankrupt, and that this would be good for the euro and for Europe in the longer term.

As Jim points out, a Greek bankruptcy would show everyone that the euro is a serious and sound currency based on the strength of its financial commitments. Of course, he does not expect this level of discipline to prevail.

My favorite forex trade right now is shorting AUD/NZD.

After hitting a 9 year high of 1.3124 last week, the rally in AUD/NZD is losing steam. I should have posted about this earlier, but I think there is still room for the currency pair to fall.