There's a conspiracy theory out there that tries to explain what's happening in the global financial market today. The theory goes like this: The US has been in a weak financial position due to the credit crisis occurs in past 3 years. China has been gaining economically since then. The US will not sit back quietly and watch as the East rises. By triggering a debt crisis in Greece, the US is killing several birds with that proverbial one stone.
One, it is dealing a blow to Chinese foreign reserves held in euros. China has been selling its US-dollar holdings and switching to euros. Two, in the ensuing panic, the US dollar strengthens because it is seen as the more stable currency. And three, the US could have already placed bets against the euro or eurozone instruments. The crisis is an opportunity for it to refill its coffers - just as it did during the Asian financial crisis.
While most conspiracy theories are eventually proved to be more fiction than fact, they do make for interesting dinner conversations.
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