Pinging a few of you, it’s worth it to read the whole article which is pretty short. The euro collapsing will without doubt have huge effects here; of course I have little to no idea what exactly, but no doubt many here will have good comments to make about this.
SO where is the safe place to put your money? Or better yet make money of this mess?
Very interesting.
Some local currencies have still continued to exist as a sort of shadow currency: for example, in Spain, things are denominated in Euros...and pesetas. Many people still calculate in pesetas. It may be true in other parts of Europe, as well, that people are still calculating in their former national currency.
This wouldn’t be true in Germany, because it was essentially the German currency that was used as the standard for the Euro.
I think a uniform currency, from a consumer point of view, is a wonderful thing. One of the biggest problems in the past was the need to convert currencies at every border. If you live in the US, imagine having to get a special currency every time you crossed into another state.
But the difference is that Europe has never been and cannot be a single state, so perhaps the currency approach has to be revised.
The Euro was established well before the advent of computerization. Perhaps to make it easier for transition between national currencies, a new form of currency conversion could be worked out. All currencies could use a certain standard (a decimal standard understood by just about everybody) for conversion, and conversion could be virtually automatic at the borders.
If your ping list is about economics, you could add me if you like; I’m really more about economics than politics anyway.