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Should We Adopt The Euro?

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Guest DissipatedYouthIsValuable

Or, perhaps, beads or Polish Zloty. In fact anything other than the American Dollar or the Nepalese Rupee?

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Or, perhaps, beads or Polish Zloty. In fact anything other than the American Dollar or the Nepalese Rupee?

Adopting the Euro at a 1:1 exchange rate would seem fair..

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The only currency that I would accept as a replacement for sterling is shiny and yellow (actually brown, when it's .999 fine!) That currency hasn't lost its lustre in the last few thousand years so it's probably good enough for however long the UK is going to last.

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You will be adopting the euro even if 90% of the population disagree after a propaganda blitz by the mejia on behalf of the goverment.

Thats some democracy you have even if i think you would be better to be in the euro than out i except this is not the majority view.

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Or, perhaps, beads or Polish Zloty. In fact anything other than the American Dollar or the Nepalese Rupee?

The Euro is facing too many imblances and may well fall apart as recession begins to hit. The interests of Germany are "poles" apart from the Mediterranean and Irish economies. Euro exports are collapsing and job losses are mounting just as Chinese imports surpass the level being pushed into the US economy. The EZ is 100% oil dependent and more and more on the Soviet Union which is now under the Putin doctrine of putting back what was lost at the end of the cold war. That means the EZ will be held to ransom with regard to natural gas and oil prices.

The economies that will survive the next great recession well will be the ones that proved to be most resilient after the big one of 1929. Diversified, youngish population, able to export, large supply of natural resources and strong enough to stand up against the growing Soviet threat.

Everything is cyclical. Gold hit a high in the early 1980's and then crashed remaining at low levels ever since (inflation adjusted) and may take several more decades to reach it prevcious high (inflation adjusted). THe Euro is at an all time high and exports are failing which means the cycle is near its peak. House prices are coming off their peak as they go into the usual boom and bust cycle. Same thing with currencies. Nothing is ever a one-way bet in perpetuity.

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Or, perhaps, beads or Polish Zloty. In fact anything other than the American Dollar or the Nepalese Rupee?

we need competing currencies....( see Ron Paul)

A government issued one backed by say silver...and not legal tender.

Then allow others to issue their own notes....backed by whatever they like.

Noone ...especially the government should have a monopoly over the

medium of exchange.

We need hard money.

the metallic tender disks we carry are worth less than the metal they contain.

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Can Europe handle it? There is certainly evidence of a link between movements in the euro and export performance. Sure, exports have been strong, and a big contributor to economic growth – volumes have more than doubled since 1993. But volume data may simply reflect strong foreign demand, rather than improvements in export competitiveness. Looking at export market shares instead, the general rise in the relative prices of eurozone exports this decade has mirrored a fall in share. Conversely, from 1999-2001, when the euro’s trade-weighted exchange rate fell, the eurozone’s export market share rose.

http://www.ft.com/cms/s/1/1b4e083e-e519-11...00779fd2ac.html

IMO, the answer to the question is no. The Euro must be allowed to devalue as recession forces bank rates down.

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we need competing currencies....( see Ron Paul)

A government issued one backed by say silver...and not legal tender.

Then allow others to issue their own notes....backed by whatever they like.

Noone ...especially the government should have a monopoly over the

medium of exchange.

We need hard money.

the metallic tender disks we carry are worth less than the metal they contain.

I've long believed that the only way to rescue the global financial system will be to return to a gold backed currency, but for some reason, of late I've had a growing suspicion that it would more likely be a silver-backed currency than gold, so I did a quick Google and turned up the following article which quite surprised me because I had always believed that silver was more plentiful than gold.

THE GOLD AND SILVER SECRET

Using silver to rescue a bankrupt world would wrong-foot a lot of goldbugs - another reason why it might be the metal of choice.

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I have a large amount of GBPs and USDs sitting in cash. I am convinced that the UK is going to descend even further into decline and general unattractiveness as a result of our impending recession. In particular as a 40sthg year old I believe that now is the time to be paving the way for the second half of my life - and that I have always known this would be abroad.

So - I am very tempted to move a lot of the cash over to the Aussie Dollar, the Canadian Loonie, the Swiss Franc or even the Norwegian Kroner - all resource rich and fairly savvy economies, and all places or zones of appeal.

I am with RB on the Euro and on Gold - They will do something structural to the Euro which wil bring it down, deliberately - big industries in France and Germany will not take this US protectionsim lying down. As for gold - it has shot its bolt - the swings it is capable of are nausea-making - it is a purely speculative market if ever there was one.

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I have a large amount of GBPs and USDs sitting in cash. I am convinced that the UK is going to descend even further into decline and general unattractiveness as a result of our impending recession. In particular as a 40sthg year old I believe that now is the time to be paving the way for the second half of my life - and that I have always known this would be abroad.

So - I am very tempted to move a lot of the cash over to the Aussie Dollar, the Canadian Loonie, the Swiss Franc or even the Norwegian Kroner - all resource rich and fairly savvy economies, and all places or zones of appeal.

I am with RB on the Euro and on Gold - They will do something structural to the Euro which wil bring it down, deliberately - big industries in France and Germany will not take this US protectionsim lying down. As for gold - it has shot its bolt - the swings it is capable of are nausea-making - it is a purely speculative market if ever there was one.

When you say something structural to the euro how long do you think it will take. I mean how strong does the euro have to get especially in regards to the pound?

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Using silver to rescue a bankrupt world would wrong-foot a lot of goldbugs - another reason why it might be the metal of choice.

The real goldbugs are very familiar with this. A few days ago there was some article, I forget by whom, suggesting that if a precious metals-backed currency were to return, China might favour a silver-backed one and use its clout to get it. Sorry, no link.

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When you say something structural to the euro how long do you think it will take. I mean how strong does the euro have to get especially in regards to the pound?

They may need to somehow decouple it - in Ambrose EPs article in Telegraph today:

"A top aide to French President Nicolas Sarkozy fired a shot across the bows of the ECB yesterday, demanding that "monetary policy must remain within reasonable bounds". The comments are a clear hint that Paris may try to force a change of tack by invoking Maastricht Article 104, which give EU politicians the power to dictate exchange policy. France has lacked allies for use of this so-called "nuclear option", but this may change now that a number of eurozone countries are now in trouble."

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I have a large amount of GBPs and USDs sitting in cash. I am convinced that the UK is going to descend even further into decline and general unattractiveness as a result of our impending recession. In particular as a 40sthg year old I believe that now is the time to be paving the way for the second half of my life - and that I have always known this would be abroad.

So - I am very tempted to move a lot of the cash over to the Aussie Dollar, the Canadian Loonie, the Swiss Franc or even the Norwegian Kroner - all resource rich and fairly savvy economies, and all places or zones of appeal.

I am with RB on the Euro and on Gold - They will do something structural to the Euro which wil bring it down, deliberately - big industries in France and Germany will not take this US protectionsim lying down. As for gold - it has shot its bolt - the swings it is capable of are nausea-making - it is a purely speculative market if ever there was one.

Good post. I generally agree re the resource rich economies, although with regard to Canada, there seems to be a fair bit of US activity going on there right now. Last week the Canadians agreed to effectively sub-contract Canadian troops to the US and friends in Toronto say they look to be eyeing up Canadian water supplies too. Sooner of later I feel Canada will be effectively annexed by the US.

I agree wholeheartedly with you on the Euro. It's current strength is getting near the top of the cycle. Gold will make some people better off, and many more (those who are increasingly getting drawn into it) much poorer.

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Good post. I generally agree re the resource rich economies, although with regard to Canada, there seems to be a fair bit of US activity going on there right now. Last week the Canadians agreed to effectively sub-contract Canadian troops to the US and friends in Toronto say they look to be eyeing up Canadian water supplies too. Sooner of later I feel Canada will be effectively annexed by the US.

I agree wholeheartedly with you on the Euro. It's current strength is getting near the top of the cycle. Gold will make some people better off, and many more (those who are increasingly getting drawn into it) much poorer.

Thank you Red Kharma - as you are my favourite level-headed wise man on here, (along with the venerable RB of course!) whenever I see you have posted I dive for the thread, so much appreciated to get a direct response.

Yes, Canada is vulnerable to the US - I gather many US folk are eying and buying tracts of Nova Scotia etc. Water and the oil sands will make Canada too much of a temptation for them in the future. perhaps analogous (at least re; water) to the future for New Zealand from Australia's POV. Hard working, honourable, vulnerable little brothers.

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  • 295 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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