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The Unthinkable Is Being Mentioned

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http://www.telegraph.co.uk/finance/currency/7797396/Why-a-new-euro-could-be-the-saviour-of-the-European-dream.html

Why a 'new euro' could be the saviour of the European dream
Once unthinkable, the possible demise of the euro is now very much up for debate.
By Robert "Bob" Woolnough
Published: 9:00PM BST 02 Jun 2010
The Euro sculpture is seen in front of the European Central Bank in Frankfurt, central Germany Photo: AP
Well, among market participants – the politicians will not countenance it, despite the tectonic shifts in the eurozone and the profound strains on the single currency.
..../
First, the authorities would have to create new national currencies as a means of exchange. To solve existing euro contracts issues, you would need a one-for-one successor to the euro, so let's call it the "neuro". We've been here before: the ECU was turned into the euro in the same way. This successor currency would then be legal tender in all European countries.
But the big question is who would stand behind this supranational currency?

The US and the $. We all know it makes sense. The alternative would be, as the artcile points out, catastrophe for the world's economy. There is no choice as the dream of political and economic cohesion for the EZ was just that, a dream. I can feel a song coming on: Cue Elvis' favourite singer, Bob Goulet and the theme from the Bloke from La Mancha.......................

I think it could happen just as I thought the entire banking system was insolvent and would collapse. The unthinkable is happening all the time.

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http://www.telegraph.co.uk/finance/currency/7797396/Why-a-new-euro-could-be-the-saviour-of-the-European-dream.html

Why a 'new euro' could be the saviour of the European dream
Once unthinkable, the possible demise of the euro is now very much up for debate.
By Robert "Bob" Woolnough
Published: 9:00PM BST 02 Jun 2010
The Euro sculpture is seen in front of the European Central Bank in Frankfurt, central Germany Photo: AP
Well, among market participants – the politicians will not countenance it, despite the tectonic shifts in the eurozone and the profound strains on the single currency.
..../
First, the authorities would have to create new national currencies as a means of exchange. To solve existing euro contracts issues, you would need a one-for-one successor to the euro, so let's call it the "neuro". We've been here before: the ECU was turned into the euro in the same way. This successor currency would then be legal tender in all European countries.
But the big question is who would stand behind this supranational currency?

The US and the $. We all know it makes sense. The alternative would be, as the artcile points out, catastrophe for the world's economy. There is no choice as the dream of political and economic cohesion for the EZ was just that, a dream. I can feel a song coming on: Cue Elvis' favourite singer, Bob Goulet and the theme from the Bloke from La Mancha.......................

I think it could happen just as I thought the entire banking system was insolvent and would collapse. The unthinkable is happening all the time.

actually we should call the new currency the NATO.

that way we can put other places like australia into the fold as well.

but it needs to be treated for what it is......a means of exchange,not a lever for gaining political hegemony.

with a few incentives like standardised duty-free allowances thrown in,could work.

of course there will be some cultural differences,so that's why most of the legislation ought to be done on a nation-by-nation basis.

the main bonding points ought to be:

free movement

reasonably free trade....with a few safeguards to ensure basic workers rights....we can't have megacorps taking the piss.

common defence.

I really don't like the idea of EU army independent of NATO,we do need to stick together on some issues.

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http://www.telegraph.co.uk/finance/currency/7797396/Why-a-new-euro-could-be-the-saviour-of-the-European-dream.html

Why a 'new euro' could be the saviour of the European dream
Once unthinkable, the possible demise of the euro is now very much up for debate.
By Robert "Bob" Woolnough
Published: 9:00PM BST 02 Jun 2010
The Euro sculpture is seen in front of the European Central Bank in Frankfurt, central Germany Photo: AP
Well, among market participants – the politicians will not countenance it, despite the tectonic shifts in the eurozone and the profound strains on the single currency.
..../
First, the authorities would have to create new national currencies as a means of exchange. To solve existing euro contracts issues, you would need a one-for-one successor to the euro, so let's call it the "neuro". We've been here before: the ECU was turned into the euro in the same way. This successor currency would then be legal tender in all European countries.
But the big question is who would stand behind this supranational currency?

The US and the $. We all know it makes sense. The alternative would be, as the artcile points out, catastrophe for the world's economy. There is no choice as the dream of political and economic cohesion for the EZ was just that, a dream. I can feel a song coming on: Cue Elvis' favourite singer, Bob Goulet and the theme from the Bloke from La Mancha.......................

I think it could happen just as I thought the entire banking system was insolvent and would collapse. The unthinkable is happening all the time.

:lol::lol::lol:

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Honestly the UK and the USA have proven that they have the financial brainpower to manage global currencies over the long run.

Sort of like how Germany has the engineering brainpower to run globally competitive industrial companies.. and France the management and engineering to run their mega corps.

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Honestly the UK and the USA have proven that they have the financial brainpower to manage global currencies over the long run.

Sort of like how Germany has the engineering brainpower to run globally competitive industrial companies.. and France the management and engineering to run their mega corps.

This thread is full of win.

:lol::lol:

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One world order, one world currency.

Makes a lot of sense. I don't like it, but it makes sense given the Sovereign Debt issues and the need to compete with the East.

I think I am starting to embrace this as the new reality. It lines up with the direction that history has been taking for some time now.

And best of all, until now, no one had seriously thought that the Euro was going to go away and the $ re-emerge as the only viable option.

From a historical perspective, we have been heading in this direction since WW1 and the US is best placed to carry it off.

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One world order, one world currency.

Makes a lot of sense. I don't like it, but it makes sense given the Sovereign Debt issues and the need to compete with the East.

I think I am starting to embrace this as the new reality. It lines up with the direction that history has been taking for some time now.

And best of all, until now, no one had seriously thought that the Euro was going to go away and the $ re-emerge as the only viable option.

From a historical perspective, we have been heading in this direction since WW1 and the US is best placed to carry it off.

Every attempt to unite europe has seen millions die because the general public isn't interested and hates their neighbours.

The US is broke. They couldn't bail out a kiddies paddling pool.

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One world order, one world currency.

Makes a lot of sense. I don't like it, but it makes sense given the Sovereign Debt issues and the need to compete with the East.

I think I am starting to embrace this as the new reality. It lines up with the direction that history has been taking for some time now.

And best of all, until now, no one had seriously thought that the Euro was going to go away and the $ re-emerge as the only viable option.

From a historical perspective, we have been heading in this direction since WW1 and the US is best placed to carry it off.

I'd like to infrom you, I've just had a Vesta curry!

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Every attempt to unite europe has seen millions die because the general public isn't interested and hates their neighbours.

The US is broke. They couldn't bail out a kiddies paddling pool.

My point exactly--Europe cannot sort themselves out.

Nations don't go broke* and in a world of "brokeness" the less broke', in geopolitical terms, win.

If the EZ collapses choices will be extremely limited and a quick fix may be necessary to avoid a economic calamity that would make the banking disaster look like nothing worse that getting your finger hurt in Ronnie Barker's ferocious till.

*Keynes' only sensible theory

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Every attempt to unite europe has seen millions die because the general public isn't interested and hates their neighbours.

The US is broke. They couldn't bail out a kiddies paddling pool.

Your faith in the magic printing press is disappointing!

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One world order, one world currency.

Makes a lot of sense. I don't like it, but it makes sense given the Sovereign Debt issues and the need to compete with the East.

I think I am starting to embrace this as the new reality. It lines up with the direction that history has been taking for some time now.

And best of all, until now, no one had seriously thought that the Euro was going to go away and the $ re-emerge as the only viable option.

From a historical perspective, we have been heading in this direction since WW1 and the US is best placed to carry it off.

and how does it make sense?...It doesnt work for a dozen countries. And billions of lost revenue for the moneychangers.

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My point exactly--Europe cannot sort themselves out.

Nations don't go broke* and in a world of "brokeness" the less broke', in geopolitical terms, win.

If the EZ collapses choices will be extremely limited and a quick fix may be necessary to avoid a economic calamity that would make the banking disaster look like nothing worse that getting your finger hurt in Ronnie Barker's ferocious till.

*Keynes' only sensible theory

Nations can and do go broke, all the time.

Pretty much the only thing keeping the game going now is the mad idea that politicians are immune to the laws of economics. And an idea is all it is, total collapse is inevitable.

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I don't see why so many people predict the Euro will collapse while the dollar is safe. Greece might have gone bankrupt, but hasn't California done the same, and it has a bigger population and economy than Greece?

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Nations can and do go broke, all the time.

Pretty much the only thing keeping the game going now is the mad idea that politicians are immune to the laws of economics. And an idea is all it is, total collapse is inevitable.

I agree. Political collapse is a possibility and this happens when economic collapse can no longer be prevented which happens when a nation is not too big to fail or if there are alternatives such as a new world order currency.

I was never much into conspiracy theories and the NWO but I am having a rethink.

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and how does it make sense?...It doesnt work for a dozen countries. And billions of lost revenue for the moneychangers.

the reason it fails is because they are so insistent on full political integration too,and frankly there are rather too many differences idealogically...but one side still insists on trying to wear the trousers.

if they turned the rhetoric down and learnt how to comprimise a bit,instead of playing these silly games of one-upmanship,it might stand a chance.

TBH we really do need some kind of consolidation to act as a counterweight to a re-arming,and potentially hostile red-world-order.

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To play with the big boys in science now you need to be a mega nation. Many big science projects today go into the multiple billions of dollars in cost to get it off the ground. A small nation cannot really fund a $10 billion project that might turn out a negative.

For example for an Austria $10 billion project would cost $1,000 per citizen.

But for the whole EU the cost would only be $22 per citizen.

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the reason it fails is because they are so insistent on full political integration too,and frankly there are rather too many differences idealogically...but one side still insists on trying to wear the trousers.

if they turned the rhetoric down and learnt how to comprimise a bit,instead of playing these silly games of one-upmanship,it might stand a chance.

TBH we really do need some kind of consolidation to act as a counterweight to a re-arming,and potentially hostile red-world-order.

egos won't allow sense

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I agree. Political collapse is a possibility and this happens when economic collapse can no longer be prevented which happens when a nation is not too big to fail or if there are alternatives such as a new world order currency.

I was never much into conspiracy theories and the NWO but I am having a rethink.

It's a pipe dream, the bankers holy grail to get out of their massive ****** up.

I'm sure it will be tried.

I'm sure it won't work.

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Quoting myself:

I don't see why so many people predict the Euro will collapse while the dollar is safe. Greece might have gone bankrupt, but hasn't California done the same, and it has a bigger population and economy than Greece?

The Eurozone (as distinct from the EU) has a comparable population to the USA - 328 million compared to 309 million

The Eurozone has a GDP a bit over half of the USA's

Greece has a population less than a third of California's and a GDP of less that one fifth of California's.

The Greek bailout is $61 billion, California's debt is $83 billion.

Edited by blankster

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I don't get all this faith in the dollar. Just another central-bank based currency in a country that borrows too much, no different to Euro or GBP really is it?

I think the European countries having their own currency is a lot better. I think the current crisis has proved that.

Not sure how a world currency would help anyone other than the most powerful and rich.

Prices will go up again while wages don't, and interest rates will be set crudely across a huge number of different economies that really need to control their own interest rates.

Plus I think Europe needs freedom from America to stick two fingers (or one) up at her when she is wrong.

I would rather the UK got into the Euro than Europe get into the Dollar.

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Quoting myself:

The Eurozone (as distinct from the EU) has a comparable population to the USA - 328 million compared to 309 million

The Eurozone has a GDP a bit over half of the USA's

Greece has a population less than a third of California's and a GDP of less that one fifth of California's.

I was a long term CA resident and went through a couple of boom and bust cycles. The issue for CA was house prices. They soared and broke the economy and they do so every time. However, infrastructure is largely unaffected and as soon as house prices collapse the economy fires up again as it is now starting to do. Manufacturing, fruit and veg, biotech and IT are still viable and they will recover in a few years.

BTW the second led of the HPC is about to hit CA again. The price they pay for HPI almost as bad as ours was.

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RB - self pronounced US dollar VI - posts a story about the Euro being replaced and jumps to the conclusion it would be with the US$...

Riiiiiiigggght! :rolleyes:

More likely outcome is that a few of the hopeless cases like Greece and Portugal will be helped to leave the Euro and the remaining countries will become more closely politically aligned - with more tightly enforced requirements to cut deficits, etc.

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Guest absolutezero

http://www.telegraph.co.uk/finance/currency/7797396/Why-a-new-euro-could-be-the-saviour-of-the-European-dream.html

Why a 'new euro' could be the saviour of the European dream
Once unthinkable, the possible demise of the euro is now very much up for debate.
By Robert "Bob" Woolnough
Published: 9:00PM BST 02 Jun 2010
The Euro sculpture is seen in front of the European Central Bank in Frankfurt, central Germany Photo: AP
Well, among market participants – the politicians will not countenance it, despite the tectonic shifts in the eurozone and the profound strains on the single currency.
..../
First, the authorities would have to create new national currencies as a means of exchange. To solve existing euro contracts issues, you would need a one-for-one successor to the euro, so let's call it the "neuro". We've been here before: the ECU was turned into the euro in the same way. This successor currency would then be legal tender in all European countries.
But the big question is who would stand behind this supranational currency?

The US and the $. We all know it makes sense. The alternative would be, as the artcile points out, catastrophe for the world's economy. There is no choice as the dream of political and economic cohesion for the EZ was just that, a dream. I can feel a song coming on: Cue Elvis' favourite singer, Bob Goulet and the theme from the Bloke from La Mancha.......................

I think it could happen just as I thought the entire banking system was insolvent and would collapse. The unthinkable is happening all the time.

Hold on.

Are you taking the question in the article, providing your own answer about the $ and then trying to pass that off as what the article says?

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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