By Porter Stansberry in the S&A Digest:

It won't surprise any longtime reader of [the S&A Digest] (or my newsletter) that I don't trust governments. I would never willingly be a creditor to any government.

But even I was surprised by the hijinks now being revealed in the Greek government's budgets. Get this... Greece didn't count most of its defense spending in its annual budgets because such amounts were state secrets. So almost 30% of its spending didn't officially "count."

Why on Earth would anyone loan to any entity (much less a government) that can't produce accurate financial statements? (By the way, the U.S. can't either. The government's own auditor won't certify the government's budgets.) And why does anyone believe a currency backed by a handful of insolvent governments will survive?

Imagine if you're a German. How much of your savings are you willing to spend on such Greek nonsense each year before you finally dump the euro and start hoarding gold?

The euro is pure madness. It's the ultimate expression of a world gone crazy for government debt.

In 20 years people will ask, did you ever see a euro?

Crux note: The S&A Digest comes free with a subscription to Porter Stansberry's Investment Advisory. Click here to learn what Porter's recommending now...

More from Porter Stansberry:

What you must know about bankruptcy of the United States

Porter Stansberry: How to earn a safe 17% a year on your cash

Porter Stansberry: The high-return/low-risk vehicle investors should place most of their money in