Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
We have our own economic problems, why do you think that we should borrow more money to help them out of their currency folly? They have to sort themselves out as they were daft enough to get themselves into that mess.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry,such a charatable post.if were fully in we could take control of the problem,but not as we are know.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
No Brian - if we were in we would have no control of the problem and we would be in an even deeper mess with significantly higher unemployment and growing.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry,we would have more control on the day to day bases.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
The clue lies with the US dollar.
The USA, since the financial crash of 2008, have done Q1 - round 1 of money printing, Q2 round 2 of money printing, and Q i - infinite money printing.
The Federal Reserve - that can only make these decisions with the consent of the American President, cannot go on printing money with no back-up.
Once the USA introduce a gold back-up to their currency, the Eurozone will follow suit.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
and a partridge in a pear tree.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Brian, a financial crash in the Eurozone would most likely affect the US economy and the British economy too.
Eurozone countries and America both have a severe currency problem, as too many paper values are backing up colossal debt-systems.
The idea of backing the euro up, and the dollar, with what is seen as a safe asset in financial terms, namely gold, could just avoid a major financial crisis.
As mentioned, our economy would fare well from it too, as we have little gold, and so the pound would devalue to an extent against the euro.
So both the Eurozone and Britain would gain.
But the point of yesterday's post here on this thread was to make aware that in the USA, this idea of using gold to back currency, in this case the US dollar, is making headway among prominent economists.
I posted an article about 2 weeks ago on the Web, and it seems to be catching on.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
alex,havent you heard,the world and its mother are skint,broke,hard up and pennyless.so i'm not botherd.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
as a matter of fact the world has a begging bowl out.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Brian, I'm sure the Eurozone countries will understand they have a lot more to gain by resorting to their gold reserves, than by trying to hang on to Britain.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
and what do you expext me to do about it alex.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Brian, I'd expect that you accept that the Eurozone and Britain need to work out the best possible solutions to the reciprocal benefit of their economies and our economy.
Rather than hanging on to each other in Limbo and all being dragged down.
Something new has to come into the equation, a decision to sort out the currency crisis, and once that happens, we can start talking of economic recovery in Britain and in Europe, but with each economy wearing a pair of shoes that fits its feet, and not one measure for all (as you appear to deem appropriate)
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
alex,one size fits all.it says so on the label,but let it be deem it possable to see the light.any way some nasty person has turned the uk's lights out.