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[albitz]

Excellent article by Norman Lamont, many of the facts really do beggar belief.
http://www.dailymail.co.uk/debate/article-2048016/Eurozone-debt-crisis-Euro-bailout-attempt-utterly-dishonest.html

[Nickbat]

Can't argue with anything it that article, Albs.

The euro is a political dream of the elite. They want it to succeed, and couldn't care less what misery their, ultimately futile, efforts will cause. 

[albitz]

They are close to bringing down the global economy in order to attempt to hang on to their federalist dream.Hopefully the U.S. will soon run out of patience and start to turn the thumbscrews very soon.It shouldnt be their job to do it,but if no-one else will.......

[Varche]

Good article.

I personally can't see how a country can leave the euro during a crisis. During settled times yes but then there wouldn't be a need!. You say on the 1st December a euro equals say 2 Drachmas. Euros and drachmas can co exist until say 1st April 2012. However in turbulent times the exchange rate would mean every you own would be devalued dramatically and prices would shoot up.

It is a giant Ponzi scheme. I thought the freking banks were bad before this but this takes the biscuit. There will be a lot of losers (the little people) and some winners (banks amazingly enough) when it all goes belly up. Don't forget the mantra, in good times the banks profit and in bad times the people prop them up. Nobody makes a bank lend all this money. they choose to out of greed, remember 2008.

Who would have thought after defeating the Germans at such huge expense during the second world war they now hold the fate of Europe(us) and much of the rest of the world in their hands almost solely

[Radar]

Some good points made - it would be funny if it wasn't so true

[Dishevelled Den]

Good article.

I personally can't see how a country can leave the euro during a crisis. During settled times yes but then there wouldn't be a need!. You say on the 1st December a euro equals say 2 Drachmas. Euros and drachmas can co exist until say 1st April 2012. However in turbulent times the exchange rate would mean every you own would be devalued dramatically and prices would shoot up.

It is a giant Ponzi scheme. I thought the freking banks were bad before this but this takes the biscuit. There will be a lot of losers (the little people) and some winners (banks amazingly enough) when it all goes belly up. Don't forget the mantra, in good times the banks profit and in bad times the people prop them up. Nobody makes a bank lend all this money. they choose to out of greed, remember 2008.

Who would have thought after defeating the Germans at such huge expense during the second world war they now hold the fate of Europe(us) and much of the rest of the world in their hands almost solely

Who would have thought after defeating the Germans at such huge expense during the second world war they now hold the fate of Europe(us) and much of the rest of the world in their hands almost solely

Isn't irony a wonderful thing to behold?


http://www.youtube.com/watch?v=x9kxZtLY5p4&feature=related

[Rods2]

Is this the same Norman Lamont that took us, with John Major into the ERM as a pre-cursor to joining the Euro, who caused Black Wednesday, when we dropped out with a base rate of 15%?  (With the economy, after our escape,  not looking back until another chancellor wreaked it, Gordon Brown).

The same Norman Lamont who with John Major caused a recession with excessively high interest rates to keep us in the ERM, with John Major telling us the pain was worth it, that destroyed perfectly good businesses, people and families? 

The same arrogant Chancellor who said afterwards he regretted nothing?

That Norman Lamont is now lecturing us on how the Euro is / was a bad idea after doing everything he could to take us into it. 

The front of some politicians beggars belief. 

I really suffered during this period, with my business just surviving, I haven't forgotten and I'm definitely not forgiving him.

[Rods2]

The German do not not want to bail out the Euro as they have more experience than any other country on creating a currency and political union from the re-unification of Germany. This caused real pain, a special reunification tax, which employees saw on the wage slip every month, high unemployment and falling real living standards. Who can blame them.

Without a common fiscal and political system, run from Brussels I can't see how the Euro can survive in its current form.

Greece has just got its next ECB / IMP €8billion, rescue loan even though it has met NONE of the criterion to receive it!!!!

http://www.mindfulmoney.co.uk/wp/shaun-richards/the-results-of-qe-mark-ii-and-the-greek-rescue-are-so-far-the-reverse-of-what-we-were-promised/

This shows it is a political not economic project.

When it all falls apart and ALL EU citizens, see the tax liabilities their Governments have run up, with Country and Bank rescue funds. It will be too late, the citizens will be left holding the baby and will see the impoverished state they have been left in as tax slaves, like the Republic of Ireland is now but on a much bigger scale. It is all truly frightening.

Far from turning the screw, US Federal Reserve are supporting European banks from today with unlimited $ support loans!!! 

[STMO123]

Well I'm going to have to buy a new mattress. This one's full.

[Varche]

 

I find the gold bars are most uncomfortable.

[Rods2]

Well I'm going to have to buy a new mattress. This one's full.

Full of paper notes, you can burn when they are useless, to keep you warm during the winter. 

UK 'official' inflation is debasing our currency at 5% per year at the moment, real world inflation is more like 7-10%. Things like the falling price of DVDs and LCD TV's that keep the official rate down, I've found I can't eat!!! 

That's why gold is so expensive. It is seen as a save haven in economic and currency storms.

[Dishevelled Den]

Is this the same Norman Lamont that took us, with John Major into the ERM as a pre-cursor to joining the Euro, who caused Black Wednesday, when we dropped out with a base rate of 15%?  (With the economy, after our escape,  not looking back until another chancellor wreaked it, Gordon Brown).

The same Norman Lamont who with John Major caused a recession with excessively high interest rates to keep us in the ERM, with John Major telling us the pain was worth it, that destroyed perfectly good businesses, people and families? 

The same arrogant Chancellor who said afterwards he regretted nothing?

That Norman Lamont is now lecturing us on how the Euro is / was a bad idea after doing everything he could to take us into it. 

The front of some politicians beggars belief. 

I really suffered during this period, with my business just surviving, I haven't forgotten and I'm definitely not forgiving him.

Hence my high regard for our political masters.

[Dishevelled Den]

Well I'm going to have to buy a new mattress. This one's full.

Full of paper notes, you can burn when they are useless, to keep you warm during the winter. 

UK 'official' inflation is debasing our currency at 5% per year at the moment, real world inflation is more like 7-10%. Things like the falling price of DVDs and LCD TV's that keep the official rate down, I've found I can't eat!!! 

That's why gold is so expensive. It is seen as a save haven in economic and currency storms.

Forget about gold or other tangible financial instruments - in my experience when things go teats-up the most useful things to have to hand are food and firearms.

[Rods2]

Politicians are the only people that I know that make estate agents and bankers look respectable! 

[Rods2]

Well I'm going to have to buy a new mattress. This one's full.

Full of paper notes, you can burn when they are useless, to keep you warm during the winter. 

UK 'official' inflation is debasing our currency at 5% per year at the moment, real world inflation is more like 7-10%. Things like the falling price of DVDs and LCD TV's that keep the official rate down, I've found I can't eat!!! 

That's why gold is so expensive. It is seen as a save haven in economic and currency storms.

Forget about gold or other tangible financial instruments - in my experience when things go teats-up the most useful things to have to hand are food and firearms.

Agree, that's one of the reasons I'm keen to emigrate to the Ukraine as soon as possible, so I have my smallholding and food security.