Quote:
Originally Posted by
Warrior
I like this type of predictions :smileylaughing::smileylaughing:
"Obviously I am way early here, .." Why is that obvious?
"... largely due to intervention from... " Yes, if there were no others who could intervene, you would have been right. In fact, we can all be right if there were no others to intervene.
But now, Mr Summers, you are wrong.
So you missed the "Is the European Central Bank Still Solvent?" seminar in London few days ago?
You should be concerned, as you are from the Netherlands. The Nederlandsche Bank, central bank of the country, is de facto funding Eurozone 150 billion euros through target2 system that was not designed for this (other strong countries, Germany 500 billion, Finland 100 billion, Luxembourg 100 billion - and every, read my lips, every other country in eurozone is a leech). In the end should euro project fail in any part the taxpayers in those 4 countries will pay, like you. Does shutting down hospitals in your country sound right? If only Greece exits euro, you will pay quite a lot, they owe ECB 100 bn, your portion of which you will not see coming back to your central bank. Way to go for european dream...
But of course, 100 billions, 100 baht, you get confused. But let me tell you, we are talking about huge amounts of money. 100 million euros is a a lot. 500 million, 1 billion, 10 billion, put into science, education, research and development, we would have a better world. 100 billion, 500 billion, 1000 billion. Why not suggested 3000 billion for euro bailout, "that should keep euro going for 2 or 3 years" as suggested by some mentally ill person, to which analyst responded "they do not have that money" on Bloomberg.
As every professional trader knows, there is a time when you should just cut your losses, even if you lose very much too much, you will still be alive and there will be another day. Eurozone stop loss point was reached long time a go and now they are going for broke. "Ex" communist commissars of politbyro- eh commission holding the steering wheel hating the market forces and not understanding market economy. Maybe the funding countries should consider their position.
Do not get me started over fundamentals, why europeans (except the countries mentioned above) are by design incompetitive against Asia, US or UK...
