Today the Federal Constitutional Court of Germany ruled that it is legal for Germany to participate in the financial bailouts of other nations in the Eurozone contrary to thousands of individual petitions from the German people. This has prevented economic collapse of the Eurozone in the next few week or even months but it has only bought some time. Germany will be cranking the printing presses and starting creating money at such a rapid pace that hyperinflation becomes almost inevitable. As hyperinflation spirals out of control economies will collapse. This will be catastrophic for the economies on this side of the Atlantic too. However Europe and us have some breathing room for now from this at least this threat. One the US Presidential Elections are over all bets are off.
Thanks ICRCC for ALWAYS staying on top of things and keeping the rest of us up to date!
Most of the German people are not happy about this........... they do not want to go further in debt to bail out other countries. We also have a number of countries that need bail outs very unhappy about the new plan for the European Central Bank to buy unlimited bonds. As expected, no one wants to give up their sovereignty and have others telling them what to do. Interesting times ahead. Not good, but interesting.
Let no good deed go unpunished.
Thanks for the update ICRCC
Russell Coight....outback legend
The Weimar Republic problems still pack a sting in the eyes of Germans. The idea of a common currency is one that politicians love but citizens do not since identity is carried with the right to a sovereign currency. The Euro needs to fail but these clowns make the pain worse by holding onto a dream of a giant Euro love-in.
I'm afraid that I don't know my US history that well. I can't help but wonder though, how the unified US dollar fared in its first few decades after the US Civil War? Are we seeing something new or reliving history?
Needs must when the devil drives.
I'm afraid that I don't know my US history that well. I can't help but wonder though, how the unified US dollar fared in its first few decades after the US Civil War? Are we seeing something new or reliving history?
The "Greenback" was a currency issued during the civil war and traded at 1/2 the value of gold on average. The current Federal Reserve Note is not traded on a percentage of gold. It is a promisary note that is based on debt and fractional reserve lending. Assasinated Presidents were against a central banking institution so they had to die. That is another story.