Posted on 12/28/2006 2:09:14 AM PST by RaceBannon
There have been a few threads in the last year or so warning of the desire of nations to switch from the dollar tothe Euro and the possible recession and inflation tis would cause.
Many here said it would not happen.
Here are 3 separate articles from DRUDGE yesterday showing that this is going on right now.
Many said this would not happen, well, here it is, the devaluing of the dollar on a scale which could bring a major recession...just in time for the Dems to claim it is Bush's fault!
Meltdown: French say 'Non' to the euro ^
Posted by alnitak
On 12/28/2006 4:33:36 AM EST · 2 replies · 88+ views
The Telegraph ^ | Last Updated: 10:55pm GMT 27/12/2006 | By Ambrose Evans-Pritchard
The French people have turned against monetary union for the first time since the launch of the euro five years ago, underscoring the fragility of an experiment that draws its lifeblood from French and German popular acceptance. A TNS Sofres poll released today by Le Pèlerin magazine found that 52pc of the French public now regard the euro as a "bad thing", blaming it for price jumps and job losses. While the professional elites still favour EMU by a wide margin, some 71pc of blue-collar workers now say the euro has hurt them personally. A quarter of all French still...
http://www.freerepublic.com/focus/f-news/1759293/posts
Reports of the US dollar's demise are premature.
Wouldn't it be funny to see half of Europe abandon th EURO while half the rest of the world tries to accept it?
Wouldn't THAT be an interesting scenario??
If you like the Euro, just wait until the Amero replaces the dollar.
Oh the joy of using cr@ppy currency with pics of Mexican Revolution heroes and Canadian moose.
Last time I checked our economy has been creating jobs, low inflation, low interest rates, and an increasing stock market. If this a bad economy, I can't wait for it to turn around.
It´s not going to happen. Switching to the Euro has increased the "feeled inflation", but not the real measured. Europe will keep the Euro, and I think the Euro is a good idea. It helps to compare prices, and thus boosts competition. In just a few days, on Monday exactly, Slovenia will become the 13th member state of the European currency union.
While I take reports of the Amero with a large grain of salt, for some reason in the last couple of years there's been an orchestrated push to get rid of the penny and even the nickel.
I wonder if the underlying theme is to devalue the dollar so that everything is priced in even dollars, no fractional currency needed. That sure would make it easy for our new "friends" from Mexico and points south, wouldn't it?
60 Prozent wollen D-Mark zurück
(60 percent of the Germans want the D-Mark back)
Do you think that ONE of these 60% have thought ONE MOMENT of the benefits the Euro has brought? Why is it so easy for people living near the borders to buy cheap gas in Luxembourg or Austria? Why is it so easy for Dutchmen to visit the Christmas markets in Aachen or Düsseldorf? Why have weekend-trips to Rome, Barcelona or Paris become so popular? Because we can compare prices, don´t need to change our money and making deals with the Euro-zone-foreign has become so easy!
It's probably more a matter that inflation has robbed the penny of much utility. Rising copper prices have made pre-82 cents "worth" more than their face value. Even the newer, mostly zinc cents fall into this situation.
Uh, are people like the OP actually reading this propaganda?
The UAE will continue to hold nearly 90% of its reserves in dollars. Every other central bank on the planet already holds far more of its reserves in dollars than it should and than it did even during much of the Clinton boom years. When they are diversifying "away from the dollar" they simply mean they are lowering their percentages of dollars held. Not a one is looking to replace the dollar with the euro. Most are talking about moves that would still result in dollar reserve holdings outnumbering the euro - assuming this is a trend that extends well into the future, even - 2 and 3-to-1.
The circulation of euros vs circulating dollars is essentially a non-event, much of which is explained -- and glossed over -- by these very articles. And, as one of these articles notes, the euro is "nowhere near" challenging the dollar's role as a reserve currency.
CIRCULATING BILLS ARE NOT A MEASURE OF RESERVES HELD.
Do you understand that? It simply means what it says: CIRCULATING BILLS.
There's a reason you find this stuff being trumpeted primarily in the Financial Times, and if you're not aware of why that is then you're not paying nearly enough attention to be creating threads about currency and currency reserves.
"Do you think that ONE of these 60% have thought ONE MOMENT of the benefits the Euro has brought?"
People were traveling across Europe and paying for goods and services long before the euro was around. Have you - personally - thought ONE MOMENT of the problems the euro brings to the table for Eurozone nations, especially as new and potential members come in for a landing?
Wait until the newly elected liberal Congress have their way with our currency. They have 14 years of horrible economic times and tax cuts to undo. (partial sarcasm)
Right, and I remember very well these times. It was the time when I paid 30 DEM fees for a remittance to a bank 120 miles away from me, but in a different country. Today, if I do the same, I pay zero to the bank. I´ve come to the conclusion that the benefits overweight the disadvantages, such as one interest rate given by the ECB. Or tell me, why has the US one currency, and not 50?
So make the penny out of aluminum or some type of polymer; it's just a counting device.
Once the penny is eliminated, they'll be trying to get rid of the nickel, mark my words. This very week, there's an article in Coin World magazine with some congresscrook or bureaucrat bellyaching about the cost of producing pennies AND nickels.
In preparation for Satan's final deception, the mark of the beast?
Well, we no longer use half-cents either. At one time, a cent represented significant purchasing power. Hell, what about mills - 1/1000th of a dollar. The current nickel is probably "worth" about ten cents when production costs are worked in.
Prophet I: And the bison shall be huge and black, and the eyes still of red, with the blood of living creatures! And the whore of Babylon, shall ride forth on a red-headed serpent, and throughout the land shall be a great rubbing of parts. He and wib...
Prophet II: ...the demon shall carry a nine-bladed sword! Nine-bladed! Not two, or five, or seven, but nine, which he will wield on all wretched sinner-sinners, just like you sir, there! And the horns shall be on the head...
Prophet III: ...through Hebediah, his servants. There shall in that time be rumours, of things going astray. Ehm...and there shall be a great confusion as to where things really are. And nobody will really know where lieth those little things wi...with a sort of rackey work base, that has an attachment. At this time, a friend shall lose his friend's hammer, and the young shall not know where lieth the things possessed by their fathers, that their fathers put there only just the night before, 'bout eight o'clock.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.