Death of a currency as eurogeddon approaches

Torplexed · 11-25-11, 10:25 PM

Interesting article by Jeremy Warner of the Telegraph. Previously, everyone thought Germany would eventually relent and allow printing and/or Eurobonds, but now they've suddenly realized that Germany isn't going to relent and it's time to head for the exits.

http://www.telegraph.co.uk/finance/c...pproaches.html

Quote:

What we are witnessing is awesome stuff – the death throes of a currency. And not just any old currency either, but what when it was launched was confidently expected to take its place alongside the dollar as one of the world's major reserve currencies. That promise today looks to be in ruins.

TarJak · 11-26-11, 12:25 AM

Strap in tight people, it's going to get a bit bumpy from here on in.

Schroeder · 11-26-11, 03:01 AM

The fact that there was a "lawsuit" in preparation against Germany for it's "high" deficit a couple of years ago now brings laughing tears to my eyes.

It's nothing short of awesome what's going on around here now.

Dread Knot · 11-26-11, 07:21 AM

Between stories like this and the recent demise of MF Global I wonder if I should begin stocking up on staples.

Jimbuna · 11-26-11, 08:21 AM

Thankfully the UK never adopted the Euro but our banks won't come out of this unscathed neither.

11-26-11, 03:01 AM	#3
Schroeder Navy Seal Join Date: Apr 2008 Location: Banana Republic of Germany Posts: 6,170 Downloads: 62 Uploads: 0	The fact that there was a "lawsuit" in preparation against Germany for it's "high" deficit a couple of years ago now brings laughing tears to my eyes. It's nothing short of awesome what's going on around here now. __________________ Putting Germ back into Germany.

11-26-11, 08:21 AM	#5
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,742 Downloads: 63 Uploads: 13	Thankfully the UK never adopted the Euro but our banks won't come out of this unscathed neither. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

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11-26-11, 12:25 AM	#2
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	Strap in tight people, it's going to get a bit bumpy from here on in.

11-26-11, 07:21 AM	#4
Dread Knot Ace of the Deep Join Date: Mar 2007 Posts: 1,288 Downloads: 85 Uploads: 0	Between stories like this and the recent demise of MF Global I wonder if I should begin stocking up on staples.