Meltdown Europe

[Capablanca]

Did any of you read the article? The Euro looks more vulnerable than the US dollar. Current price action tends to support that notion.

 

[Cesko]

Quote from Capablanca:

Did any of you read the article? The Euro looks more vulnerable than the US dollar. Current price action tends to support that notion.

It doesn't matter. Just few months ago the U.S. was destroying "innocent" world by debasing USD. Or (going by other school of "thought") the U.S. was finnished (EUR/USD). And now the very same EUR/USD is menacing the "innocent" world again.

Safe, happy, basically content world still in the claws of unbridled greedy American capitalist monster.


Now I would really like to read Southamerica's take on EUR/USD. Better than watch MadTV.

 

[alientrader]

Quote from Brendan R:

Europe has entered the meltdown phase.

The following problems are surfacing:

- lack of intelligent leadership - a whole continent turning to socialism at a time when the benefits of capitalism should be promoted. M. Sarkozy is playing a dangerous game. The last thing you want is socialism and a new order. The little man has a big ego to please.

- Economic nationalism - the "stronger" countries are displaying a lack of commitment to the European cause by promoting their interest first. Again M. Sarkozy is embarassing evryone with the creation of a SWF "a la Francaise".

- Trouble at the borders - Hungary, Turkey could default soon. Russia is in trouble...

- Trouble within - Italy is a total mess, Spain has a banking system soon to be bankrupted following unabated lending to the housing sector

All these reasons will contribute to Europe's meltdown and the disappearance of the Euro.

Sarkozy's failure to rally the Chinese this weekend to put pressure on the US for the establishment of a new world order is the beginning of the end.

Europe and the little man with a big ego stand the most to lose in the current financial crisis.

Three currencies will emerge, the USD, the JPY and the Yuan.

Goodbye Europe (FYI, I'm half French half Italian)

YEN,YUAN and Swiss franc will emerge

 

[Capablanca]

A graphic that has me concerned is this:

 

[Alexandre]

very interesting graph from a very good source

 

[Alexandre]

also from the Telegraph:

The financial crisis spreading like wildfire across the former Soviet bloc threatens to set off a second and more dangerous banking crisis in Western Europe, tipping the whole Continent into a fully-fledged economic slump.

Currency pegs are being tested to destruction on the fringes of Europe's monetary union in a traumatic upheaval that recalls the collapse of the Exchange Rate Mechanism in 1992.

 

[Brendan R]

just came back from Europe and it looks like "smart" people have started looking for where their euros come from and who's backing them.

On Euro banknotes you can check which national central bank is backing it.

People don't want notes backed by what they deem the weakest members.

 

[C6H12O6]

Quote from Brendan R:

just came back from Europe and it looks like "smart" people have started looking for where their euros come from and who's backing them.

On Euro banknotes you can check which national central bank is backing it.

People don't want notes backed by what they deem the weakest members.

This is an old story from the telegraph
http://www.telegraph.co.uk/finance/...doubt-as-Germans-reject-Latin-bloc-notes.html
and the informations contained there are COMPLETELY WRONG. The serial numbers don't work the way they say, you can't trace back the central bank with those numbers.

When you opened the thread I hardly believed you.
Now that you pick up this thread with this false information, I don't believe you at all.

I think you are spreading false information and you should explain to the forum what are your intentions.

 

[C6H12O6]

Quote from Brendan R:

- Trouble within - Italy is a total mess,

My business is in Italy, and we just ended the month of October 2008 with the same turnover of October 2007.
And this year we also feel the pressure of a very strong direct competitor.
This year we'll have the same profits of last year.
Moreover we need to hire some worker, and we are having a lot of difficulties to find someone.
We hardly see any crisis.

Instead we hear stories from some friends of ours in the United Kingdom, they tell us what's happening there, and it is absolutely disastrous in comparison to Italy.

Quote from Brendan R:

Goodbye Europe (FYI, I'm half French half Italian)

I'm full italian, and I don't believe you, sorry.

 

[dhpar]

well let's be honest - who would ever believe anybody of french descent?