How The Euro Will Destroy America's Power

Discussion in 'World Events' started by Proud_Syrian, Apr 24, 2003.

  1. spookz Banned Banned

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    Congrats

    not true. if the euro was equal in all respects to the dollar, additional criteria such as morality might be taken to account when making choices

    to elaborate further.... investing.....you have company a and b. they give the same return, offer the same propects. a invests in green politics, b invests in dictatorships. what do you do?
     
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  3. Salty Registered Senior Member

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    The euro droped 1/3 since 1999 compared to the dollar. So I would go with the dollar and not support dictators.
     
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  5. EI_Sparks Registered Senior Member

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    Salty,
    While the euro did fall from $1.20 to $0.85 or so, it has since come back to $1.11 or so. And that initial devaluation was not something that worried senior economists - they predicted major fluctuations in the euros value in it's first year or two of use.
     
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  7. Nasor Valued Senior Member

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    The gold standard doesn't work very well. There are numerous problems with the gold standard, the foremost of which is that the government can't increase the money supply without inflation occurring. Having a 'standard international currency' also wouldn't work for the same reason; in fact it would be even worse, since if everyone had the same currency no country would be able to control its money supply in a meaningful way. You only need to use the gold standard if people don't have faith in their currency.
     
  8. Clockwood You Forgot Poland Registered Senior Member

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    Mayny people in many places dont have faith in their currency. In places like mexico, iraq, just about all of africa and south america, and many other places the local currency is just colorful paper. In such places half the time they use the american dollar for serious trade.
     
  9. Nasor Valued Senior Member

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    True, but people have great faith in the dollar. It's so stable that some countries have actually gone to a 'dollar standard' where they back their currency with dollars instead of gold. It will be a loooong time before the euro is that stable, if ever.
     
  10. goofyfish Analog By Birth, Digital By Design Valued Senior Member

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    The Malaysian Gold Dinar Only a Few Months Away

    This story has been totally ignored in the U.S. press (and maybe rightly so, who knows?). But it's worth a gander. At the very least it's fun to be aware of important stuff that few others have heard about.
    It’s actually pretty fascinating. The Chinese allied with the Moslim world with the Russians tagging along too. Ah, the shifting sands of power.

    :m: Peace.
     
  11. Re: The Malaysian Gold Dinar Only a Few Months Away

    THANK YOU so much goofyfish for this link, I am very glad about this new golden dinar, we are 54 Muslim country with around 1.5 billion muslims.
     
  12. goofyfish Analog By Birth, Digital By Design Valued Senior Member

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    Greenspan was blathering the party line today about prosperity being around the corner—there's a backlog of non-military orders. My right-wing brother has been talking non-stop about pent-up demand, and saying that high unemployment means lean companies can immediately make money off their new hires. Bah—with no money, people can't buy anything, and their credit cards are maxed out.

    We could be headed for a credit collapse, especially if money keeps fleeing the country. Rates are so low that foreign investment has essentially stopped. The euro is getting stronger, and this new gold dinar will provide another place to park funds.
    The gigantic deficit will cause rates to rise, however, and that might bring back the foreign money. Too bad it will stop the housing boom dead. We could be trapped in this recession for quite a while.

    :m: Peace.
     
  13. aghart Registered Senior Member

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    Norway & the UKjoining the euro

    There is more chance of hell freezing over than either of these countries joining the Euro. The Euro is wrecking the economies of the countries that have adopted it. It's 'once size fits all' attitude to monetary policy and interest rates would be ok if the European Union were a single country, a single culture, a single institution.

    IT IS NOT. It is a collection of independent Sovereign states with different cultures different priorities and different values.

    The people of the Euro countries are becoming increasingly disillutioned with the new currency as they see it cause chaos in the national economies and caused further stagnation and unemployment. Most of the people of the EU were not given any choice in joining the Euro and are now increasingly vocal in their resentment in being forced into giving up their national currencys. Some of the countries with weaker currencys such as Italy,Greece & Ireland may benefit but the two major nations (Germany & France) are suffering badly. In the UK and possibly Norway as well a national referendum has to take place before the Euro can be joined. The British Prime Minister who is in favour of the Euro will not hold a referendum because he knows that the British people will vote AGAINST the Euro and by a large majority. The Chancellor of the Exchequer and the Governer of the Bank of England are AGAINST the Euro.

    Don't be too suprised if the Euro is fails and the French Franc & the German Mark make a return.

    The Euro was adopted for political reasons only. The aim is to create a single European superstate, but it will end in failure,

    Recent history supports this, The Soviet Union was an unatural Union that died, Yugoslavia was the same, The European Union can survive as a collection of seperate countries but anything more integrated is doomed to failure. The British people will have the final say as to their entry and thankfully it is and is likely to remain a definate NO NO NO.

    I wonder if the people of Syria would be able to make their voice heard in a similar situation.
     
  14. EI_Sparks Registered Senior Member

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    My goodness. A collection of disparate states with multiple ethnicities and traditions and first languages, all using the same currency in a loose federal system...
    Yeah, you're right, it'd never work.

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  15. mouse can't sing, can't dance Registered Senior Member

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    Nope. Actually, most people are getting comfortable with it. The euro is not the cause of the economic recession. Most people understand this perfectly well.

    All euro countries are democracies. Its citizens had and have enough opportunities to voice their opinion but it turned out that there was little resistance to the euro. Nor is there any mounting resentment as far as i can detect.

    No, the aim was to stimulate internal trade and traffic.

    The European Union is based on democratic countries having common interests. Neither the Soviet Union or former Yoguslavia applies to that. Your comparison is flawed.

    If this will be the verdict of the British people, well... fine.
     
  16. spookz Banned Banned

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    he blunt truth is the USA government now owes nearly 7 trillion dollars. The blunt truth is that a payment plan covering ten years would require 700 billion per years, plus interest. The blunt truth a twenty year plan would require 350 billion, plus interest. There is no political will to take between 500 and 900 billion dollars a year, out of 2.2 trillion dollar federal budget, and use it to pay down the debt. We will go deeper into debt until the foreigners cut us off, just like New Zealand in 1984. The fiscal collapse of the US dollar is not some doomer fantasy. It's coming as sure as we are going into Iraq. If you understand what our enemies are trying to do, if you understand their modus operandi, you will see our fiat dollar is going to lose up to 40% of its value. It has already lost quite a bit in the last two years. Of course, it has lost nearly 100% of its value since the FED took over in 1913. What I mean is will lose roughly half of its current value in the near future. It has to since the foreigners are onto our economic scam. Our enemies have said they will destroy our economy and indirectly this great military machine we have built. It's the dollar, stupid. And it's fading fast. I'm on record as saying that the Argentina situation has a very good chance of happening here in the United States of America. The wheels of economic reality grind slowly, but they grind completely. They have gutted manufacturing, the stock and commercial real estate markets and left us with massive debt levels. Now they are coming for our fiat dollar. A dollar collapse. Coming soon to your wallet. (Doug McIntosh)
     
  17. aghart Registered Senior Member

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    The USA may be the UK's bosom buddie, but only the people of the UK will decide on entry into the Euro. The USA does not and never has had that kind of power over the UK. The USA was thrilled when the UK joined the then Common Market in 1973.

    The USA has a lot of influence andy 1033 but not that much.
     
  18. mouse can't sing, can't dance Registered Senior Member

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    I can only speak for myself if i say that i love the euro, and have almost forgotten my former currency.

    Especially when manouvering out of economic difficulties the euro can be a stronger leverage as it carries more influence than each of the former individual currencies. Individual measures really do not help in this global economy. Playing with the guilder really would not have shielded the dutch government from a global recession to take but one example.

    No, not really. I recall a lot of open debate but as i pointed out, no strong opposition. My government was not aggressive at all to promote the euro and did not launch massive propaganda progams. What it did do was an effort to inform the public about the consequences of the euro. By the way, in Denmark where the government did try to convince the public with heavy campagning, the public voted "no".

    As the prelude to the war of Iraq has clearly demonstrated: European leaders still have very much their own opinion about foreign affairs, regardless of what their neighbours think of it. So, if i were you, i wouldn't worry too much about this superstate... it is not going to happen any time soon. Although, personally, i have nothing against closer collaboration of European states in foreign affair issues.


    The fact that some local regions want more independence, does not take away the common need for the EU. It is equivalent of saying that if i have some trouble with a few guys in the local pub, my country's government could never function. The EU is a place where member states discuss issues of magnitude that is concerning the whole union.

    Do not confuse the EU with an all mighty organ that will send in the army promptly to surpress a disobedient member... it is not, and probably never will be, the European equivalent of the Soviet Union. If anything, it would move towards a system similar to that of the United States, but i seriously doubt that Europe would ever reach that level of integration.
     
  19. goofyfish Analog By Birth, Digital By Design Valued Senior Member

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    You would think that with the falling dollar, more nations would be buying American products.
    Does it say anything when a business (nation) has a fire sale and no one is buying? Voters have zero patience with poverty and unemployment and, though I believe no one can "control" the economy, the administration in power at the time is always the culprit in their eyes.

    :m: Peace.
     
  20. SG-N Registered Senior Member

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    I'm using euro and that's really nice !

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    My country don't suffer of it... In fact, I think that it's agreat thing for us as it gives a kind of stability.
     
  21. Carnuth i dont Registered Senior Member

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    the cycle of capitalism:

    up down loop up down loop up down loop up down and then you want to get off the ride and puke your guts out

    chill out about the recession, its natural.
     
  22. Vortexx Skull & Bones Spokesman Registered Senior Member

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    Coming soon in a theatre near you: EUROBUSTERS starring Cheese and Wine

    First they laughed and said it was a bad idea, than they said he couldn't do it...., than they tried to shove him under the carpet and overrun him with a SUV....Now he is back with a monetary vengeance, going after the kingpin and stab him where it really hurts bad: in his wallet.
     
    Last edited: May 3, 2003
  23. hypewaders Save Changes Registered Senior Member

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    "chill out about the recession, its natural."
    So is death.
     

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