Having spent only a month here in Germany, it renews my faith in earning euros opposed to pounds, cause they soon could easily be converted to deutsch marcs
Gosh the Germans are actually managing the situation making bold moves writing their future and this guy is so right about the copycat britain, where did we think up the car scrap-page scheme?
Markets plunge as Merkel delivers euro warning and bans short-selling - Times Online
Gosh the Germans are actually managing the situation making bold moves writing their future and this guy is so right about the copycat britain, where did we think up the car scrap-page scheme?
Markets plunge as Merkel delivers euro warning and bans short-selling - Times Online
Which country has the largest value of exports in the world? Germany - although China is now a very close second. Which country boosted its gold reserves even as we were selling off ours for next to nothing and has further boosted those gold reserves significantly recently? Germany. When I look at how Germany has managed its economy I’m impressed greatly. When I look at how we in the UK have mismanaged our economy I feel only disappointment and deep despair. It is hard to believe that this is the country of Adam Smith. The people in charge of Britain – by which I mean the entire political establishment comprising all 650 MPs + the HoL, together with the Governors of the Bank of England, the MPC, the best brains in the City (I use the term ‘best’ advisedly), many of the political economic journalists, and the Civil Service – seem to have conspired together to turn what was once the world’s strongest economy into one of the weakest. All we in Britain seem to know how to do (whether on the military or economic or financial front) is to copycat the USA like a parrot and to be its lapdog yapping noisily for a dog biscuit. Blair never had a thought in his empty head other than to copycat and obey the USA. Same comment for Brown. Adam Smith was, in my humble opinion, the smartest Scotsman. These two were the dumbest in history. They actually knew nothing about anything although they each had a university degree, Blair’s being from Oxford, which makes me wonder about the academic standards being maintained at Oxford. Getting back to Germany, I mentioned here at T-O-L just recently that as far back as 2007 I started predicting that Germany and Austria would eventually leave the Euro and together with Switzerland form their own currency. Whether it will be called the Deutsche Mark (a name that brings nostalgia and pride to the heart of nearly every German) or otherwise I don’t know. But it will not be Fiat Money. It will be currency backed 100% by gold (as will the Yuan in time), and, ipso facto, these two currencies will be the only two on the planet worth having or holding. With the exception of these two currencies, Fiat Money globally, in danger of sinking it is going to be. Especially something called the Greenback and something else called Sterling. The US economy has been transformed into a Ponzi, and of course copycat Britain has done the same quite merrily. Shoulder-to-shoulder we stood; and shoulder-to-shoulder we shall fall. Since I started specialising in macroeconomic theory I have developed great respect for Germany. During the same period, the respect that I once had for the economic stewardship of my own country has collapsed to the bottom of the sea. Without meaning to engage in hyperbole, I cannot see that all the distinguished people in charge of Britain’s economy (whether at BoE or the MPC or any of the MP et&c) have managed the economy much better than’s been done in Zimbabwe. Finally, I’d like to mention to everybody that (unli
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