Tinfoiled Again!
Posted on 01/27/2015 10:23:22 AM PST by SeekAndFind
The European Commission's top economists warned the politicians in the 1990s that the euro might not survive a crisis, at least in its current form. There is no EU treasury or debt union to back it up. The one-size-fits-all regime of interest rates caters badly to the different needs of Club Med and the German bloc.The Telegraph outlined it half a decade ago. Now that a bigger “beneficial crisis” is looming, watch for more of the plan of the “euro fathers” to be implemented.
The euro fathers did not dispute this. But they saw EMU as an instrument to force the pace of political union. They welcomed the idea of a “beneficial crisis”. As ex-Commission chief Romano Prodi remarked, it would allow Brussels to break taboos and accelerate the move to a full-fledged EU economic government. …
Tinfoiled Again!
OPEC Has Already Turned to the Euro
GoldMoney Alert
February 18, 2004
...The source for the euro exchange rate is the Federal Reserve, and I have calculated the euro's average exchange rate to the dollar for each year based on daily data.
OPEC Has Already Turned to the Euro
GoldMoney Alert
February 18, 2004
...The source for the euro exchange rate is the Federal Reserve, and I have calculated the euro's average exchange rate to the dollar for each year based on daily data.We can see from column (4) in the above table that in 2001, each barrel of imported crude oil cost $21.40 on average for that year. But by 2003 the average price of a barrel of crude oil had risen 26.0% to $26.97 per barrel. However, the important point is shown in column (6). Note that the price of crude oil in terms of euros is essentially unchanged throughout this 3-year period.
2001
As the dollar has fallen, the dollar price of crude oil has risen. But the euro price of crude oil remains essentially unchanged throughout this 3-year period. It does not seem logical that this result is pure coincidence. It is more likely the result of purposeful design, namely, that OPEC is mindful of the dollar's decline and increases the dollar price of its crude oil by an amount that offsets the loss in purchasing power OPEC's members would otherwise incur. In short, OPEC is protecting its purchasing power as the dollar declines.
I’ve read theories that the ECB’s sudden move to QE was a last-ditch attempt to try and convince Greek voters not to elect this far-left party.
So since the Greek voters did elect the left-wing party, will they now proceed to forget the whole thing? Maybe they will kick Greece out and forget about them, too.
Can anyone name a very important confidant of our current president who has a well-demonstrated knack for making a lot of money out of chaos?
Is George Soros an Obama confidant?
Yes, Soros is Obama’s puppet master.
Soros has conducted fundraising on Obama and radical democrat’s behalf.
http://www.conservapedia.com/George_Soros
Very clever tagline.
Regarding Tinfoil hat post - in your opinion is concern about EU / Central bank collapse unwarranted?
Wonder if there are any ideal short hedge funds to help ride out turmoil?
Thx
You know, the US and Canada are probably as much alike as any two countries that aren’t already part of a union (such as the UK). We are certainly a lot more alike than the countries of Europe.
But would we agree to share a single currency? I doubt it.
Democrats’.
I’m wondering about all those Greek bonds those foreign banks are holding - and valuing them at parity. If/when Greece reneges, there ought to be some creative accounting pop up.
Yes, it’s unwarranted.
OPEC’s priced in Euros, even while releasing the numbers in US$, in order to keep their product price-stable in Europe, and not lose more ground to Russia. When the price has worked its way up, yes, the price has also risen in Europe. But the change in the exchange rate pertains to the cratering of the price of crude and little else.
It strikes me as a multi-nation exercise in communism - where all are supposed to support each other and those that produce more are supposed to keep pouring their hard-earned assets to keep supporting the leeches (Greece for instance) that have no desire to contribute. In the ‘60s, many hippies thought they would start communes and live the dream - they came to the sorry awakening that those who produced were abused by those who refused to ante up.
It’s more insidious than that. The currency was designed to rob nation states of their sovereignty. The Greek leadership was bought off by the EU elites not for its economic value, but strategic value.
I may be a little thick here, but what do you think will happen. Will OPEC allow the dollar to sink and keep trading in Euros? The the Euro replace the dollar as the world’s fiat currency?
So really the US dollar, which is just another fiat currency, will continue to rise relative to another piece of trash fiat.
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