Or a hole in the universe the size of Belgium...
Posted on 10/26/2011 11:17:46 AM PDT by little jeremiah
By now everyone realizes that the euro is in major trouble and will no longer exist in its current form for much longer. However, the common view is that it is Greece and possibly other PIIGS countries who will be forced out if the eurozone is broken up.
But few are talking about another possibility- of Germany leaving the EU.
One who is talking about this is Dr. Pippa Malmgren, a former economic advisor to George W. Bush and a former advisor to Deutsche Bank (DB). According to Malmgren, Germany has already ordered the printing of Deutsche Marks in anticipation of a possible withdrawal from the EU.
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We also have reports of Sarkozy and Merkel screaming at each other in recent meetings. France has announced plans to possibly nationalize several banks just “in case.” And Germany has dropped more than a few hints that it’s fed up with the situation.
Heck, even mainstream “thinkers” like Alan Greenspan says the euro is “doomed” to fail.
Something very bad is brewing behind the scenes. The Sarkozy- Merkel talks, the short-selling bans, the halted stocks, the leveraged EFSF, the hints of QE 3, all of this is telling us that the financial system is on DEFCON 1 Red Alert.
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So if you have not already taken steps to prepare for systemic failure, you should do so now. We’re literally at most a few months, and very likely just a few weeks, from Europe’s banks imploding.
(Excerpt) Read more at seekingalpha.com ...
When it comes to the economy, Germany is Europe. German engineering will always keep it at the forefront among Europe’s eurosocialists. And I think that they are coming to realize that their little foray into European collectivism has left them worse for the wear.Human instinct for survival and to shed the burden of supporting those that do not contribute to their national economic well being will eventually drive them back to the mark.
When it moves, it is going to move in microseconds. It will be far too fast for the average chump to save themselves.
Or a hole in the universe the size of Belgium...
Me too. I never trusted the Euro, but would happily put my money in D-marks.
I think Germany would see investment flooding in if they disconnected themselves from the Euro.
Another triumph for centralization, statism, eliteism, and the Euros being the smartest people on the planet...
How does one short the Euro and make a fortune when it does move?
The EU has been a bust
“I’ll start worrying if they start printing Reichsmarks.”
You mean R€ichsmarks?
That is my read on it. Don't think the Euro is going to collapse anytime soon. The market obviously doesn't think so. Europe can keep punting for awhile. They will keep kicking the can down the road, hoping against hope that economies turn around and the financial picture improves.
It'll all blow up at some point and the more Europe bails out banks, the more the public will think banks are the problem rather than out of control government spending. Europeans have basically learned nothing so far, and I don't really expect them to. They want to continue leaving way above their means, and no amount of reason and logic seems to sink in. We are seeing the same thing in this country. This is one of the reasons why banks MUST be allowed to fail. If during the financial crisis banks were allowed to collapse, the public would have traced the finger back to government policy and more of people would have reached the right conclusions.
“How does one short the Euro and make a fortune when it does move?”
Simple. Just open an online forex account with an online forex broker, click on Euro and click sell. The only thing is you will be shorting it against the dollar. Sick and sicker.But everything is relative. I shorted the Euro but against the Canadian dollar to avoid the hassle of the US deficit and debt crisis.
“You mean R€ichsmarks?”
Jawohl.
What if the whole universe shrinks down to nothing but Belgium??
egads
In currency futures but virtually all amateurs get wiped out before making significant coin.
EU, a bad idea whose time has gone: One state for about 20 separate, fractious peoples. Now to clean up the aftermath.
The whipsawa will kill you.
The krauts hold the majority of euro debt, if they walk away from the Euro, it will fall like a rock and the Germans will lose about 40% of their collective net worth.
In addition, since they have no real army, it does germany little good to be prosperous when their neighbors are broke.
Those borders are porous.
Big bang theory?
Oct 26, 11:32 AM EDT
Euro plunges on reported crisis talk deadlock
By DANIEL WAGNER
WASHINGTON (AP) — The euro is plunging against other currencies after European leaders and banks appeared deadlocked over how much of Greece’s debt should be forgiven.
European leaders are meeting in Brussels Wednesday about efforts to prop up banks, bail out Greece and prevent the debt crisis from spreading. Last week, they promised a detailed plan by Wednesday. That looks increasingly unlikely.
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And this:
http://euobserver.com/19/114075
By Valentina Pop
Brussels - Peace should not be taken for granted if the euro fails, German chancellor Merkel told MPs Wednesday (26 October) ahead of the eurozone summit where an increase of the bail-out fund firepower may lead to Germany’s own state assets being taken as collateral.
“Nobody should take for granted another 50 years of peace and prosperity in Europe. They are not for granted. That’s why I say: If the euro fails, Europe fails,” Merkel said, followed by a long applause from all political groups.
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Is it Bush’s/Israel’s/Sara Palin’s/Tea partiers’ fault yet?
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