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Now there's a big dose of Euro bearish.......and a good incentive for development of new sovereign currencies on the cheap, circa Hjalmar Schacht.
So you are saying that they want this to be a self-fulfilling prophecy? I think the German voters may have some different news for them.
Too many people bought gold in europe. We'll have to notch her down a bit further.
The Euro will be at least partially gold backed.
Mark my words.
Sure, Europe and the Euro having been scrupulously reality based so far, right?
BNP has major short positions in the Euro.
This has nothing to do with politics or with value.
BNP is shorting the Euro and bashing it.
Did they take a page from Soros' playbook? I think so.
Merkel, my favorite European politician and LEADER has put the short sales ban and the CDO ban through for a good reason. Bashers like BNP are not supposed to benefit on the backs of mainly German taxpayers.
Look at the debt that French banks are holding across the Club Med.
I can't wait for the French to go back to a 40 hour work week. The lines and lines of tractors and trucks blocking the Parisian economy.
Anyone here remember that the French had to devalue their currency at least once in the last century past WW2?
I wish you would live in Ferkel s Germany. You have no idea what you are speaking of.
Europeans are cutting defense budgets. Quote:
On June 8, the Washington Post ran a story claiming that the European members of NATO were about to embark on their deepest cuts in military spending since the end of the cold war. On June 7, the German government stated that they were seriously considering cutting their military personnel by 40,000 or 16 percent. The German defence minister has publicly stated that a 100,000 or 40 percent reduction in the present complement of 250,000 might be necessary.In Britain, serious consideration is being given to a 10-15 percent cut in military spending over the next six years. France and Italy are also talking about big cuts in military spending.US Defence Secretary Robert Gates is naturally aghast at this talk. He has been warning of a “crisis” confronting NATO ever since February, the crisis being caused by the non-US members of the alliance “not pulling their weight”. Now, Europe seems determined to pull even less of it.
quoted from 'The Privateer', #655, June 2010.
Ceasing with 'spending for growth'. Keynesianism is dead. CLICK HERE. They are pulling out of the Ponzi, folks.
They could care less if Euro drops all the way to 0.86, where it was originally floated.
Check this interview: mp3 file here
Particularly the last portion of the interview.
Europeans are adjusting their ballast, battening the hatches etc for the coming storm.
Short term moves in the Euro mean squat, except that they will be much better positioned for the crisis.
What the hell are Bennie and Timmay doing?
Austerity will be good for the common currency as it should.
Anyone trying to explain that more spending and more printing would solidify the Euro is drinking the wrong kool aid.
Now try that in the US. Try and downsize the government military complex. Good luck. Won't happen without an ensuing revolt. Any nation that's tried to accommodate thousands of ex military has usually gone down the drain.
The American experiment is nothing new. It's another in a long line of failed empires. The US is on its deathbed.
The GOM was the last nail in the coffin. Similar to the lead poisoning that is partially blamed for the fall of Rome.
Euro was originally floated at US1.18, not .86
BNP's investment arm is in London (60% top-rate tax in France). Chances are the English guy that wrote the piece couldnt give a toss about the EU project anyway
As a non-voting German Taxpayer, the sooner this goes tits up and we get the DM back the better - they plan to increase the VAT here on food to 19%....
19% VAT on food that is at least strictly monitored and not genetically modified as it is in the US.
40 millions of Americans are living on food stamps. They don't have enough income to buy Twinkies and Wonder Bread.
The US economy cannot simply "shake" an entire region (Gulf of Mexico) being gutted over several years because of a massive never ending oil spill.
Club Med may be broke, but at least the Med is clean and liveable.
Europeans have savings. Europeans are NOT indebted beyond redemption.
Don't even get me started on the level of sophistication that Europeans enjoy.
Europe looks better every day.
"Don't even get me started on the level of sophistication that Europeans enjoy."
LOL! No, please. Do go ahead and start detailing the "the level of sophistication that Europeans enjoy"....mindful that lots of readers here know the old continent all too well.
+1!!! Damned Ferkel!
Damn! And I bought my ZH t-shirt today!
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Lucky for Marla that I ain't scared of no namby-pamby deflation.
all paper money is a derivative of the USA dollar after Benton Woods
let me know haw this works out for you....LOL
The first currency to have Gold backing-will kill em all-
Then comes the rush into Gold by all Central Banks--
Sell some into the massive Commercial squeeze that ensues-
My dream trade-come true-
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