• The post you are reporting:
   
  The euro has gone up 7% against the pound since the start of the year.
  The Polish Zloty is estimated to be under-valued by about 30%, artificially kept low in Poland's favour.
  The pound is kept artificially high through over-confidence in the sterling on the world's money-markets.
  
  But if some Eurozone countries decided to utilise their gold reserves to prevent and reverse austerity, they'd be daft not to!
  In Italy, impending austerity measures could trigger off something much worse than using a gold-backed currency.
  No economist in their right mind would take for granted Barry's version, but would weigh the pro and the contra.
  
  The reason why Greece and Spain went the way they did, is because they only have paper values and very little gold reserves. So I doubt the Italians will sit there and let themselves be pulverised into the death-throws of Austerity by EU commissars and heads of foreign governments.
  
  They'd have to be downright daft to do so! Sorry Barry, no offence meant.

Report Post

Your Name

Reason