the collapse of the euro

wow what a week, especially if your an investor, which everyone is like it or not. unless your dirt poor your invested in some sort of currency, you own a house in some country etc.

anyways it seems like people are still riled up about the 9 dead in a war zone (gaza) for the past few weeks all while the eurozone begins to collapse and possibly sending 400 billion people to the broke house. the sheer volume of of net wealth lost in europe witht the direction of the euro is stagering. i know today the euro broke the 1.20 exchange mark and old men on big tables are sayign it could trade at par with the dollar soon!

take a minute to think about that, if the euro was at 1.4 representing a market the size of the us, and it drops to 1 to 1 euro to dollar, that means anything anyone owns in euros lost 40 percent value, stocks in european companies, european property, european goods and art, lost fourty percent value in a matter of weeks! thats not even pricing in their market shares direction these past few weeks, which would only cut deeper into europeans pockets. so basically said, this is europe's 2008. amazing, just amazing

there are some serious implications for these movements, just like how the movements fo the market in 2008 put 4 million americans out of a job in 2009, looking at the markets is like looking into a crystal ball, sometimes you can see a blurry image of the future.

Although imediately devistating there could be some positive sides of this collapse. if the euro zone collapses some of the individual nations could retain some lost soveirgnty. like the euro or not, but when the european pareliment passes legislation that rules and treaties over the nations, or even the monitary policy, those policies go into effect sometimes without the consent of the democratically elected governments. so basically the collapse could be a painful win for democracy.

Also i think this signals the end of socialism, your seeing it deteriorate in china but it has always held up strong in europe. lession learned from europe, big government is to expensive and could risk collapse in the end. maybe this should act as a canary in the mine for our nations and our president, even though i doubt it will.

personally, and i say this with the welcome of criticism if need be, i think this just goes to show the end result of big government and expensive social programs. although morally justified, if it is unafrodable it is unattanable. why follow europe into the socialist minefield, have a few social programs that are justifyable in the robin hood sense, everyone has healthcare for ten years and then a full collpse afterwards which could be more devistating to the health of our civilians than if it had never passed. i know people always bring up the war, but the war counts for 5 percent of the budget, 22 percent is defence, including projects maintance and payroll without the war, and 50 percent of the budget is social security. so even though the war was costly it is not as costly as the duel edged sword of social security and obamacare

thoughts opinions, im aware that the last paragraph gets more opinion orientated , but what good debate isnt?


www.cnbc.com...

[edit on 4-6-2010 by jakemil]

Here's to hoping the Euro and the dollar both crash soon! I hate to say it but I am so sick of the banksters controlling us through currency and the sheeple none the wiser. I hope it all comes crashing down then maybe we'll have a chance at creating a free society, or at least some of us will.

[edit on 4-6-2010 by hawkiye]

what if the plot was get europe on the single currency
then short the currency.
I understand greece got creamed like that

any bills being passed seem to ultimately be about winding up with control
of things after every one starves to death with no dough.

reply to post by hawkiye


if the banks were allowed to collapse, then the banks that were doing their jobs right would have rose up and came to the front of the scene. it would have been a painful transition, but a necessary painful transition, like a true capitalist society, let the old big and crooked collapse and die, and let the young strong and powerful rise. now all we did was stave off the inevitable

Originally posted by hawkiye
Here's to hoping the Euro and the dollar both crash soon! I hate to say it but I am so sick of the banksters controlling us through currency and the sheeple none the wiser. I hope it all comes crashing down then maybe we'll have a chance at creating a free society, or at least some of us will.

AMEN !!!
I'm with ya on that.

Hopefully our children
will thank us for it.
Or at least appreciate it.

I've been watching the reports on the EU these past few weeks. I quit watching television about a year ago (I prefer to do my own programming)but like the news addict I am, I scour the net everyday...liberal, conservative, conspiracy, foreign, military, agriculture, etc. And there has been very little reported on EU going bust these past few weeks.

It's another MSM sleight of hand...we need to keep our EYE ON THE BALL.
This oil spill IS a big deal, but so is the economy (no matter where you live). The # is hitting the fan and it's about to hit us all where we live...pun intended.

Rahm Emanuel once said " never let a good crisis go to waste".
This oil spill is no exception. Suddenly no one is talking about the economy or what our good friends, the banksters are up too.

Thank you OP for this post. Some of us need to be reminded to KEEP OUR EYE ON THE BALL here in America as well.

It's coming to America......

Originally posted by jakemil
reply to post by hawkiye

 

if the banks were allowed to collapse, then the banks that were doing their jobs right would have rose up and came to the front of the scene. it would have been a painful transition, but a necessary painful transition, like a true capitalist society, let the old big and crooked collapse and die, and let the young strong and powerful rise. now all we did was stave off the inevitable

Sorry friend but every bank is a fraud their are all in collusion with the Federal Reserve there are no good ones they all need to go!

Originally posted by jakemil


take a minute to think about that, if the euro was at 1.4 representing a market the size of the us, and it drops to 1 to 1 euro to dollar, that means anything anyone owns in euros lost 40 percent value, stocks in european companies, european property, european goods and art, lost fourty percent value in a matter of weeks! thats not even pricing in their market shares direction these past few weeks, which would only cut deeper into europeans pockets. so basically said, this is europe's 2008. amazing, just amazing

Hmmmm .... 1 Euro to the Dollar,would make a smooth transition for a one world currency would it not . Regaurdless good post friend

reply to post by hawkiye


i was making the assumption that with the colapse of the big banks the federal reserve bank would colapse as well. once the fed and big banks colapsed the small local banks with a real banking model would begin to fill the gap and lend to real local businesses

Originally posted by jakemil
reply to post by hawkiye

 

i was making the assumption that with the colapse of the big banks the federal reserve bank would colapse as well. once the fed and big banks colapsed the small local banks with a real banking model would begin to fill the gap and lend to real local businesses

None of them have a real banking model that requires real money. None of them have any money to lend they all create credit on our signatures period, thier banking model is the same as the big banks it's all based on credit from nothing, there is no money in the banking system period. Also they are all agent banks of the Federal Reserve right down to your local credit union.

I think that the Euro is far to o big to collapse fully. It may be bruised and battered but a full collapse will be anarchy. The bailout would include most of Europe and will be costly.

The welfare state was absolutely necessary following the social upheaval of WW2. Anything less than a welfare state would have lead to the triumph of the true left not the posturers hiding behind socialism which has become a meaningless term in terms to the usual socialist parties as they are actually left- leaning social democrats.

[edit on 5-6-2010 by Tiger5]