EU Bailout - $1 Trillion - Lunacy

[NickM]

O/U on the European Unon dissolving? When you have a blanket currency and banking system, it doesn't allow for individual countries to screw up because then it leads to others in the same monetary system to have to bail them out or suffer huge consequences. If they had their own money still, they would go through this problem on their own, their currency would devaluate, and life would go on for everyone else. This has all been the plan from the beginning I'm sure though so that the IMF can get the entire EU dependant on SDRs and then suck every citizen in Europe dry paying back the loans they have eventually made to every country. This system has made every country "too big to fail" and at least all of us Americans have seen how brilliantly that works out.

It only gets worse from here kiddies! Enjoy the ride!

[Jeremy]

The Euro was an idiotic idea in the first place. However it should stand as a great example for countries if the idea of a "global currency" is introduced after all this worthless paper becomes well......more worthless.

The collapse of both the Euro and the Dollar is now inevitable at some point. It's not a matter of "if", it's a matter of when. At some point very soon, adding more debt to an existing debt crisis is going to be the final blow that will set off a chain reaction of global currency collapses. Yes, Greece is bad, but here in the U.S. California may as well be our Greece.

Diversify and protect your wealth now. Likewise, don't believe everything you see on the nightly news, especially in regards to economic data. There's going to be a lot of sheeple in shock and awe saying "I thought the news said we were out of the recession and in a recovery", "My 401k has been going up, how could this happen" etc. etc. etc.

Interesting times we're living through indeed.

[Mr-AJ]

The Euro is not a bad idea in general. It was just poorly executed with too many states at once. There's no way that such a union lasts with weak states from South Europe. Euro for France, Netherlands, Belgium, Germany, Austria and some Scandinavian countries could work just fine. Right now I love to see the Euro fall down and increase my $ earnings
It's funny how news can change the world. A few months ago I remember a debate here that the $ sucks and the Euro seems to be a save currency. Now just because it looks bad for Greece it's the end of the Euro, EU and maybe the world. We'll see what really happens. Who remembers the swine flu now?

[addz123]

adding more debt to an existing debt crisis is going to be the final blow that will set off a chain reaction of global currency collapses.

Isn't capitalism based on the very premise of this? lending money incresing the money supply etc?

In my opinion, it's a complete waste of time arguing economics, because you cannot "prove" anything. Economics IS politics, there are varied opinions on the "right" economic system, plans and structures, from bernanke to collier to keynes, financial liberlism to the gold standard etc etc.

It's too easy to criticise and berate politcians, and extol your own views and predictions imo.

I find it funny how everyone is focused on the short term US banking/federal reserve issues. I mean, there are bigger fish out there surely? Most western political narratives are positive china is about to collapse. They have ridiculous top heavy demographic where the young won't be afford to support the aeging population. They have the worst and fastest growing ecological and environmental problems, they face unprecendented geopolitical security crises and are historiclly overdue a revolution - yet they have by far the biggest foreign federal reserves.

worst comes to worse there will be an internationl price freeze, fixed exchanged rates and currency depreciation.

The world isn't a perfect place today, but it never has been.

[TheGooner]

O/U on the European Unon dissolving? When you have a blanket currency and banking system, it doesn't allow for individual countries to screw up because then it leads to others in the same monetary system to have to bail them out or suffer huge consequences.

It only gets worse from here kiddies! Enjoy the ride!

What is the difference between the EU and the United States?
Other than the fact that the US states have been "united" longer of course.

Both animals have their individual members (nations or states) in varying degrees of insolvancy - ranging from bad to worse to unbelievably bankrupt.

[wjb316]

Here are a couple very cool websites that talk about global economics and politics:

Home | Euro Pacific Capital
Geopolitical Diary | STRATFOR