Because your entire fucking continent is imploding. Rumors are circulating that Germany will announce this weekend that it is leaving the EuroZone (which would make it insane amounts of money, especially if it shorted the Euro first). It may or may not happen, but either way liquidity in EU is so fucked right now that it's almost impossible to grasp. The 1.25 trillion euro bailout (which seems to be growing in size every day) is likely to not happen at all, since France and Germany are likely not going to participate in it, and the UK's CDS spread is so huge now that Ron Jeremy is jealous. Oh and that bailout deal? It was made in the several hours span when the UK had no government and the German Finance Minister was in the hospital. Yeah, that's a real winner. The austrian mint has announced that there is a run on gold coin and buillion. In the last week there has been more sold than in the last quarter (possibly 2 quarters). They are on the verge of running out. Similar reports are coming out of Germany that physical inventories are being sucked dry, and people are buying any physical they can get their hands on. Of course it's just gold, right? Er nope. Silver too. Runs being reported across Austria-Germany, so much so that the largest single online retailer has had to shut down its website because it has nothing left to sell. What does this tell us? Note, that there is no run on banks. Why? Because the money in the banks is not viewed as valuable. The Euro is now essentially worth nothing, and it's a dead currency walking. When a fiat currency loses value a non-fiat currency that functions as a barter medium will always replace it naturally until a new fiat currency is in place. And if the new fiat currency isn't trusted, the old one will remain in place. Fiat currency requires the trust of the people. When your currency has lost 20% of its value in 6 months, and over the last week has lost 10%+ of its value, and is heading towards pairity with the dollar... well, you're in deep shit.
I always thought the Euro was destined to failure. I hope the Germans back out, I saw a poll that said something like 85% of them were against the Greek & Euro bailouts. Fun times are indeed ahead...
So now what? Each country presumably takes up their own individual currencies again? Or they do massive bail outs to stabilise the Euro and peace is once more (temporarily) restored?
dude, people in europe are fine. they know they're fine because they live in europe. who cares if the numbers in the banks don't add up? What. the world gonna end? So what if the euro decides to flop. It'll justs make everyone pull together, grow their own food and share with one another and they'll soon realize they don't need the governments economic oversight. They'll just say fuck em'. So to that end I hope the euro fails, and then the dollar next.
You may find it helpful to recall what happened the last time the european economy fell apart and Germany felt like it was being exploited and shamed on the world stage by other european countries. (Today the biggest newspaper in germany ran a front page headline in maximum letters saying "WE ARE ONCE AGAIN THE SCHMUCKS OF EUROPE!" And large parts of europe are simply not capable of growing enough food to sustain their population, large scale economic agriculture is required for that. So short of potential war (which is one convenient way to wipe out debts), economic collapse, famine, the deaths of millions via starvation, the rise of communism/fascism again, and 3rd world standards of living... yeah, what could possibly go wrong?
Ok. Ok. Settle down. I don't want you standing on the corner with one of those signs saying "tthe world is gonna edn soon". but if it does, I don't think the entire human race will be wiped out, there be a few straglers left around. and boy, won't they have the run of the mill!
that guy is pretty scary. He needs to find Jesus. Then, he wouldn't be so unsure. Do you think Jesus was a capitalist?
Yes the euro is in big trouble. But we have a plan in Europe.. We are all going to migrate to the US..
That's Heath Ledger's joker from batman. I don't know much about Jesus, but I think he was non-violent so he was probably a capitalist.
America needs to wake up and watch what happens to economies when you can't just print more money. Since Greece has adopted the Euro as their currency, they don't have control over the printing presses. Maybe Obama should take a note . . .
You've got this one the wrong way round tiger Have you read 1984 by George Orwell? Im sure you have... Its a very scary portrait of the future by a guy who could only possibly have wrote it if he had a time machine. 99% of it is generally thought to be true in this country now - the ministries exist, big brother etc etc! There is an excellent chapter about the three super-states continually going to war with each other to drive there economies... And not to panic you all - but every country is in huge huge debt to the Rothchild banking system. This is soley because we dont have something called 'the gold standard' - which is basically when the banks have the exact amount of 'pretend paper money' as they do gold in the bank volts... Paper money was created to represent gold as it was to heavy to carry around. Old money used to say 'I will pay the bearer £10 of gold on demand'...£ unsed to mean just that - 1 pound of gold... not anymore... You see, the banking industry was allowed to do away with the gold standard so it could input more money for loans into the system. However - this means the bank 'can print' (nowadays they just add a few zeros to a computer screen) cash as the see fit... The outcome is obvious - Inflation. As long as they're is no 'baseline' for what a currency is worth. Debt will rise and ALL COUNTRIES will owe someone or another!!! (Sorry to rant on here...) This is why the Chinese economy has cleverly started to purchase resources (gold, silver, wood, sand, coal) - I promise you now, if you invest all your money in the chinese stock market you will get a 1000% return in seven years. They have realised that money only represents worth - it has no real value itself. and since there is no gold standard... its literally worth the paper its printed on. I can predict your future if you like: The west will now have to get used to a much less lavish lifestyle as the east continues to buy up things that actually have value. America will get very pissed off about this and wage war. Britian & Europe will back them. Until we have a Gold Standard and have finally implement 'free' resources such as Geo-thermo energy instead of fossil fuels. There will be war. Which will keep us all in debt. Those planes aint cheap guys... Sorry for the epic message!!!!
It's ok. Don't worry. It's not too late. I hope this image will inspire you to embark on your new journey in life.