"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside of the control of Congress and manipulates the credit of the United States." - - - Senator Barry Goldwater (1909-1998)
The Fed is shoveling cash . . . .
The moronic Socialist ruling Elites of Europe are screaming "panic", but what is wrong with bringing back the Franc and Mark?
By Gary;
Trying to prevent a debt crisis in Europe from exploding into a global panic currency printing presses around the world are churning out cash by the trillion in order to prevent a economic meltdown.
The Fed started shoveling cash and was matched by corresponding actions from the Bank of Canada, Bank of England, Bank of Japan, European Central Bank and Swiss National Bank.
The effort to provide more liquidity may temporarily soothe the symptoms of Europe’s debt crisis and allow financial institutions easier access to funding. It does little to address the underlying roots of overburdened governments with mountains of debt that need to be propped up while they drastically cut spending.
The central banks are doing their job to prevent a panic and an even greater depression. That is what central banks are for.
That being said, what is wrong with letting the Euro vanish into history in an orderly manner? Bring back the French Franc and the German Mark.
The rest of the world does not have a common currency and they get along just fine. China, India, Brazil and Australia all manage to operate just fine with their own individual currencies.
I suspect the Euro "panic" is much more about shoring up badly managed banks that invested deeply in Greek and Italian debt.
Just a random thought for the day.
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| What on earth is bad about the return of the French Franc or the German Deutsche Mark? The rest of the world gets along just fine without a common currency. |
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