If you look at the graph below, unemployment in Spain and Greece is at or above 20pc, and its nearly 14pc in Portugal and Ireland. It seems inevitable that the ECB will need to embark on a massive QE program to save the PIIGS economies, most likely by printing money to buy the sovereign debt of these countries to keep the interest rates on that debt down. Whatever the short term affect of this action, it still seems that at some point in the future this newly printed will leak into the real economy. Hence, it makes sense to look closely at real asset investments now just as a hedge against future inflation. The numbers below are tragic, and are more evidence of the madness behind the idea of a single currency for 17 separate and disparate nations.