The dangers of Euro to the Dollar

[Pekelo]

Here is a short economy history from my favorite Republican Congressman (from Texas!!!) about the danger of countries switching to Euro from Dollars:

http://www.lewrockwell.com/paul/paul303.html

For those who don't see the danger to the American economy, it is interesting to note, that anytime a country swithced or planned to switch to Euro from Dollar (except the EU of course), it find itself on the shitlist of Washington, and was labeled either communist or "axis of evil", and was either attacked or a war/coup planned against its leaders....

 

[GlobalFinancier]

Russia?

 

[Matt8200]

I never thought I would say this but there are some smart and truthful Republicans.

For anyone who is interested here is another paper on this subject.
http://www.feasta.org/documents/review2/nunan.pdf

 

[Matt8200]

Ron Paul and the Fed discontinuing the M3

http://www.house.gov/paul/press/press2006/pr021506.htm

 

[drsteph]

Quote from Matt8200:

Ron Paul and the Fed discontinuing the M3

http://www.house.gov/paul/press/press2006/pr021506.htm

Amen to that.

Ron Paul is a true GOP'er - a holdover of the old party of fiscal responsibility and limited government. Interesting that his own web site touts his involvement/interest in the gold standard.

www.house.gov/paul/

I applaud Dr. Paul for raising the issue of M3. I am sure his efforts will be squelched by the prevailing winds.

 

[futures_shark]

excellent articles; thanks for the links. Ron Paul is the only politician who I truly believe is actually doing his job. He would make a great president but I'm sure the republicans would never let him run.

I agree with the articles but in one way the euro may actually help the world.

COMPETITION

The US Dollar hasn't had any and it has allowed the politicians to get completely out of control as stated in the first article.

Competition is always a good thing but it can definitely be painful when you've easily been the top dog for a long time and suddenly confront a worthy opponent.

Lately I've had the viewpoint that what's happening in the world and the seeming disparities that are present are the result of market principles becoming more powerful than politicians. As the politicians fight to save their power things could get ugly.

ANother thing I realized is that the free-market works slowly over time and it doesn't make announcements...things just happen.

I predict March will be an interesting time this year if the Iran oil bourse starts trading as planned. I doubt if the volume will pick up quickly but over time it could definitely have a serious impact on the world.

Who would have ever thought Iran would help the world move more towards a global free market?

I just hope it not located near any of their nuclear research facilities. Can you say collateral damage?

Did you guys notice that the recent runup in gold started around 11/16, the same day they announced that M3 would not be reported as of March 2006...(coincidentally?) the exact month that Iran has announced that they will be trading oil in Euros?

 

[futures_shark]

Quote from Matt8200:

I never thought I would say this but there are some smart and truthful Republicans.
...

Actually there is only one that I know of, Ron Paul.

 

[Covertibility]

"It now is common knowledge that the immediate reaction of the administration after 9/11 revolved around how they could connect Saddam Hussein to the attacks, to justify an invasion and overthrow of his government. Even with no evidence of any connection to 9/11, or evidence of weapons of mass destruction, public and congressional support was generated through distortions and flat out misrepresentation of the facts to justify overthrowing Saddam Hussein."

Ok but then the lunancy starts:

"There was no public talk of removing Saddam Hussein because of his attack on the integrity of the dollar as a reserve currency by selling oil in Euros. Many believe this was the real reason for our obsession with Iraq. I doubt it was the only reason, but it may well have played a significant role in our motivation to wage war. Within a very short period after the military victory, all Iraqi oil sales were carried out in dollars. The Euro was abandoned."

Ya right, and Hitler moved some of the Jews out of Germany to Israel because he was concerned for their safety.

Better yet so the new reason to invade Iraq is because Saddam wanted Euro's? I guess that sounds better than 1) Saddam has WMD's 2) Saddam has Nuclear Weapons 3) Saddam and Al Qeada 4) To spread Peace and Democracy (lol, i still love that one).
Keep the propaganda going, you'll eventually find a dumb enough reason people will believe.

 

[FuturesGamer]

Quote from Covertibility:
Better yet so the new reason to invade Iraq is because Saddam wanted Euro's? I guess that sounds better than 1) Saddam has WMD's 2) Saddam has Nuclear Weapons 3) Saddam and Al Qeada 4) To spread Peace and Democracy (lol, i still love that one).
Keep the propaganda going, you'll eventually find a dumb enough reason people will believe. [/B]

Since you obviously don't believe any of the reasons above were the real reasons for invading Iraq, why don't you tell us what you think the real reason was?

 

[downrivertrader]

So will you go long or short?

Quote from Pekelo:

Here is a short economy history from my favorite Republican Congressman (from Texas!!!) about the danger of countries switching to Euro from Dollars:

http://www.lewrockwell.com/paul/paul303.html

For those who don't see the danger to the American economy, it is interesting to note, that anytime a country swithced or planned to switch to Euro from Dollar (except the EU of course), it find itself on the shitlist of Washington, and was labeled either communist or "axis of evil", and was either attacked or a war/coup planned against its leaders....