Alan Greenspan (as he appears today)
Posted on 02/17/2017 6:00:13 PM PST by Java4Jay
He suggests the inequality is largely down to a north/south geographical divide which means the division between the northern and southern EU countries is too big. The bloc's more prosperous nations such as Germany consistently fund the deficits of those in the south, and that simply can't go on, said Greenspan.
(Excerpt) Read more at rt.com ...
“And I have grave concerns about the future of the euro itself… The eurozone is not working”, added Greenspan.
Somewhere Margaret Thatcher and Winston Churchill are laughing at just how slow you are Alan.
Trump needs to call on RT more often....
For some years I, a nobody, have been pointing out that the Euro, because of being an international currency effectively pegged to stronger economies in the Eurozone has both the liabilities asserted for specie (if you don’t have it and you don’t produce much you have to bag, borrow, tax or steal to get it) as well as being fiat money. The worst of both worlds.
So it was inevitable that weaker countries in the Eurozone would enter a viscous downward spiral that they might have avoided or reduced had they still had their own fiat currencies and national banks.
The same would happen to Mexico if it ever gave up its own currency to move closer to the US.
Arguably we should see the same with any world currency, just with many more countries being impoverished beyond what they may have previously known.
These unity currency systems do not transfer wealth, they erode and destroy it where the local economy is weak ... though without socialism weaker countries may long avoid crisis like Greece is seeing.
Andrea Mitchell’s attacks on Trump are also not working. Maybe he should speak to the Missus.
“And I have grave concerns about the future of the euro itself… The eurozone is not working”, added Greenspan.
Good Heavens - is he still alive? Why would anyone pay attention to anything this man has to say? He got it wrong so many times he makes a blind squirrel look brilliant!
Hey Allan, you were Fed Chairman, and did everything to boost globalism and prevent the Amerozone from working. Why don’t you let the Europeans sort out Europe. It’s not that I am anti-European, but we Americans could do the world a great big favor by fixing ourselves instead of trying to fix everyone else.
But they keep pushing globalism.
At “World Government Summit,” Top Globalists Drop The Mask
https://www.thenewamerican.com/world-news/asia/item/25404-at-world-government-summit-top-globalists-drop-the-mask
What a joke that is, coming from the mouth of the man who started us on a 2 decade money printing binge to devalue our country’s wealth.
Southern Europe ain't the only half with deadbeats. Northern Europe enjoyed fat "peace dividends" for decades that they spent on themselves courtesy of Uncle Sam.
Alan Greenspan (as he appears today)
So greenie woke up from his nap and said we have known all along.
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