Posted on 04/17/2011 5:21:56 PM PDT by SeekAndFind
Official results aren't settled, but the early vote suggests a massive victory for the True Finns in the Finnish election.
It's not clear yet whether they will be the single largest party.
At the moment, while they have the most share of the vote, the National Coalition Party has the most seats.
The True Finns -- as their name suggests -- are the Finnish nationalist party lead by Timo Soini. They are anti-bailouts and anti-immigration.
For a really good overview of what the True Finns believe, and what they mean to Europe, see this profile in the Telegraph. This quote from one candidate -- a professor running in this election -- encapsulates it all "Here in the Nordic nations we draw a
It appears the party will be in coalition talks with the other Finnish parties, the result of which is sure to throw a wrench in the Portuguese bailouts.
(Excerpt) Read more at businessinsider.com ...
A country where I’d quite like to be.
1.4420 to 1.4398 isn’t really going down. Not too long ago it was a 1.29
For breakfast or dinner? Or sack lunch in the hall?
However, the pro-EU parties may still put together a majority right/left coalition that excludes True Finns and back the EU.
Can’t find the story at the link.
I have been watching this development with interest...
Finland’s anti-euro True Finns made huge gains in an election of raising the risk of disruption to an EU bailout of Portugal.
The right-leaning National Coalition topped the ballot, gaining just over a fifth of all votes. Party leaders will start talks soon on forming a new government.
With half the votes counted the True Finns were on 19% support, and on course for 41 seats, tied with the Social Democrats and one seat less than National Coalition Party’s predicted 42-seat haul, the BBC reported.
Finland is the only euro-zone country that requires bailouts to be approved by its parliament. Strong gains by the True Finns could derail a planned rescue for Portugal.
What this means is that Goldman Sachs’ European analysts will be scrambling all night to come up with loophole to European law that will not result in an epic plunge for the EURO.
Why I am following this event with interest you might ask? Well, I have quite a substantial investment in precious metals .... if paper currencies of major countries like the Euro and the USD weaken, guess where the smart money flocks to?
No, just a little pony trekking...or watching TV.
Hmm... it sure won’t be US Treasuries!
Not too long ago it was .80
But that was before the Bernake/Soros era.
The EU will take care of that problem.
“The EU will take care of that problem.”
I don’t know about that; many Germans were already complaining when the problems in Greece were brought to the fore about the contrast between Germans and their work ethic and the Greeks and theirs. Some countries (the most self-sufficient) are realizing that some “dependent” countries will drain their resources, and are insisting on structural changes in those countries.
OPEC Has Already Turned to the Euro...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.
GoldMoney Alert
February 18, 2004
|
US Imports of Crude oil
|
|||||
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
|
Year
|
Quantity (thousands of barrels)
|
Value (thousands of US dollars)
|
Unit price (US dollars)
|
Average daily US$ per € exchange rate
|
Unit price (euros)
|
|
2001 |
3,471,066
|
74,292,894
|
21.40
|
0.8952
|
23.91
|
|
2002
|
3,418,021
|
77,283,329
|
22.61
|
0.9454
|
23.92
|
|
2003
|
3,673,596
|
99,094,675
|
26.97
|
1.1321
|
23.82
|
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.
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.
RE: I don’t know about that; many Germans were already complaining when the problems in Greece were brought to the fore about the contrast between Germans and their work ethic and the Greeks and theirs.
As a result of Angela Merkel’s policy of bailing out Greece and Ireland, her party has lost the last elections in some of Germany’s most important regions.
The policy of bailing out irresponsible countries is VERY UNPOPULAR in Germany. Merkel should really watch out.
Why should Finland, or any country, have to be “pro immigration”?
Is there something intrinsically positive about anyone who comes to any country from “someplace else”?
Tea Party Special Forces are parachuting into Helsinki to help the True Finns.
well educated immigrants with marketable skills, who can speak the language of the country they live in and respect it, should be welcomed with open arms. Naturally practically every western country has embraced the opposite policy.
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