Posted on 03/26/2019 5:10:09 AM PDT by Cronos
The Euro could "collapse" within the next 18 months, the man tipped as the next US ambassador to Brussels has claimed, adding that he would "short" the EU single currency if he was an investor.
Prof Ted Malloch, a former Oxford University professor now at University of Reading, added that the UK and US could cut a bilateral trade deal inside 90 days and that elections in Europe this year could sweep away the EU as we know it.
"The one thing I would do in 2017 is short the euro," Mr Malloch told the BBC, "I think it is a currency that is not only in demise, but has a real problem and could in fact collapse in the coming year, year and a half."
Mr Malloch, a eurosceptic French and German speaker who has ties to the Roosevelt family, has reportedly interviewed for the EU ambassador role and is expected to be appointed following the confirmation of Rex Tillerson, the US secretary of state-elect.
He dismissed the objections of experts that that a US-UK trade deal would rapidly get bogged down in difficult disputes over agriculture, reciprocal access for financial service industries and healthcare privatisation and genetically modified foods.
(Excerpt) Read more at telegraph.co.uk ...
I wonder if Mr. Malloch followed his advice of "The one thing I would do in 2017 is short the euro," -- he probably would be broke then
Also the US-UK trade deals have floundered. But hey, the UK just signed a trade deal with Fiji and another with Papua New Guinea — woo hoo!
The way things are going we would be lucky if morons in Congress won’t run USD down.
If Brexit happens in an ugly way, this is a reasonable prediction. We’re about to find out.
Let it end either way already.
It’s looking like it will, and not in a way the EU would like. :)
The EU right niw prefers no deal Brexit and is preparing for it. The UK isn’t
out-dated 2017 article.
1 euro = 1.13 dollars at this time....
We have been destroying the value of the USD since 1913 with the founding of the FED. Since the inception of that private bank charged with “maintaining” the value of the USD, it has lost over 96% of its value. That crash has MOSTLY occurred since 1971 when Nixon abandoned the gold standard.
This has been a bipartisan swamp effort to shift wealth out of the middle class and into the financial elite. It has been a stunning success. It is too late to reverse it. The only solution will be a dismantling of DC, either by peaceful means (Article V convention) or .... something worse.
“could” is the key word here. An asteroid “could” hit the Earth tomorrow, and then we wouldn’t have to mail in our mortgage payments.
could = meaningless.
I don’t see the Euro collapsing. I DO see several countries in Southern Europe potentially rejecting further austerity and massive youth unemployment that is the inevitable result from staying in the Eurozone. I could easily see some of them leaving the EU over it, re-adopting their national currencies and immediately embarking on competitive devaluations to inflate away a lot of their debt and make their goods significantly cheaper and thus more competitive on world markets.
Sure this would cause inflation initially but that is better than stagnation and mass youth unemployment along with years and years of austerity. Of course the Germans in particular don’t want this. Firstly it would damage the EU. Secondly it would hit their exports to these countries making them vastly more expensive. Thirdly since German (and French) banks hold a lot of the sovereign debt for these Southern European countries, it is German and French banks who would take a severe haircut.
The Eastern Europeans will stay in so long as the structural funds and agricultural subsidies keep flowing in and as long as their nationals can get jobs in higher paying Western European countries while at the same time rejecting Franco-German (especially German) arm twisting to accept Muslim invaders so as to take some of the pressure off Germany. Can’t blame the Visegrad group and others formerly behind the iron curtain one bit. They never got a Marshall Plan. If the money spigot from Western Europe is ever cut off, I don’t see them having much enthusiasm for the EU. They don’t have the same silly Yurp nationalist romantic notions Western European elites have. They’re far more practical.
I've always thought that eventually the UK would join the United States. Apportionment would be interesting. Maybe cut Northern Ireland loose and carve the rest into 10 states.
Ping
“Shorting” the Euro as part of an overall strategy is certainly not stupid. You would not have paid much for options for the Euro when he said this, would you? The Euro is not so stable as to weather the winds of Brexit and Italexit without a hic-cup.
You’re right. Let Northern Ireland joined the republic of Ireland, free Scotland and carve up England and assimilate it into the USA.
It is in the end a good thing that Mr Malloch did not get the post of Ambassador to the EU.
Oooooh, yeah.....Scotland. Integrate England and Wales. Call it the “Longshanks plan”.
When I was in Austria 11 years ago the Euro was worth about $1.65. We’ve strengthened against it significantly since then, but past performance is no guarantee of future results. Any article about currency futures is just a guess.
EU just passed Articles 11 and 13.
The EU can go to Hades with my blessing.
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