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Thread: Obama: Solving Euro Crisis of ‘Huge Importance’

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    And I thought Europe solved this problem many times over already. They were all patting themselves on the back not long ago.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by 1Perry View Post
    And I thought Europe solved this problem many times over already. They were all patting themselves on the back not long ago.
    They solved nothing. Our Fed bailed them out without our knowledge, thanks Bernanke, and Geithner.


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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by j-mac View Post
    They solved nothing. Our Fed bailed them out without our knowledge, thanks Bernanke, and Geithner.


    j-mac
    I agree with your point but we do need to note. All they did was push the problem a little further into the future while creating even more problems.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by 1Perry View Post
    I agree with your point but we do need to note. All they did was push the problem a little further into the future while creating even more problems.
    That can doesn't have much further to travel until it disappears off the side of the mountain.


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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by jamesrage View Post
    This is why you don't tie money into other countries.
    Are you serious? There is no way for us to insulate ourselves from their problems, any more than they could insulate themselves from ours. I don't know that there's much we can do about it, but it certainly makes sense to explore all options.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    I am thinking Obama is just trying to pressure and motivate the EU to get something done, especially Germany who is being a major road block in any Euro negotiations. There is no way the Euro can survive the short term unless Germany caves and lets the ECB buy and guarantee unlimited amounts of sovereign debts from various countries, while in the long term the countries are going to have to give up some sovereignty and instead of each country having solely their own debts, the euro area in general needs to have its own integrated bond where all countries are on the hook and have substantially more power to deliver budgetary discipline on negligent countries.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by drz-400 View Post
    I am thinking Obama is just trying to pressure and motivate the EU to get something done, especially Germany who is being a major road block in any Euro negotiations. There is no way the Euro can survive the short term unless Germany caves and lets the ECB buy and guarantee unlimited amounts of sovereign debts from various countries, while in the long term the countries are going to have to give up some sovereignty and instead of each country having solely their own debts, the euro area in general needs to have its own integrated bond where all countries are on the hook and have substantially more power to deliver budgetary discipline on negligent countries.
    Germany does not have the ability to solve Europe's problems.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    With the Euro in a bad situation could this possibly usher in a new international currency?

    If you watch this video at 3:30, Ron Paul talks about powers trying to install a new NATO/IMF international fiat currency. If the Euro were to collapse this could be a good opportunity for them to try and instal this new international currency as a replacement.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by Baralis View Post
    With the Euro in a bad situation could this possibly usher in a new international currency?
    No. If the Euro fails, which is unlikely, it will result in more national currencies -- not a more unified currency. Paul is a nutter.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by Baralis View Post
    With the Euro in a bad situation could this possibly usher in a new international currency?

    If you watch this video at 3:30, Ron Paul talks about powers trying to install a new NATO/IMF international fiat currency. If the Euro were to collapse this could be a good opportunity for them to try and instal this new international currency as a replacement.
    I would say, if anything, this is proof that an international fiat currency WOULDN'T work. The lesson learned from the EU failure is that you can't tie different countries with different cultures and economies into one monetary union. You will always end up having the rich countries bail out the poor ones and with relatively overpriced and under priced currencies.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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