Andrew Brons was making his voice heard again in the European Parliament during the debate on the Monetary, Economic and Social Situation of Eurozone Countries.
He told his fellow MEPs:
There is a natural relationship between the current health of a states economy and the value of its currency.
As an economy grows, so should the value of its currency, so that it can enjoy the cheapness of goods and services that it chooses to import.
Equally as an economy stagnates or even declines, so will the value of its currency, leading to an export boom and recovery of the economy (assuming that its manufacturing and international service industries have not been destroyed by globalization).
However, the currency of a nation trapped in the Euro-straight jacket cannot adjust to the needs of its economy and its people. This crippled Britain between 1990 and 1992, when we were in the Exchange Rate Mechanism. Now it is strangling Greece and other client states of the Euro.
This should be a warning for any country outside the Eurozone. Join it at your peril. In the short term, you will see the needs of your economy unattended to. Furthermore, when you do decide to withdraw, you will be faced with a debt to the Eurozone that has been inflated by your own devalued currency.
source youtube .
Wednesday, February 10, 2010
Labels:economy Collapse Meltdown Euro Crisis
MARC FABER NEWS
Dr. Doom? Marc Faber Sees Stock Buying Opportunity
The dean of doom, Marc Faber, told CNBC on Tuesday that a variety of asset classes—including equities—may be worth buying for short-term gains. In the midst of market volatility on concerns over Federal Reserve tapering, he said, "Treasury bonds ...
Marc Faber aka Dr. Doom: S&P 500 Index Could Fall 20% To 30% Easily
Dr Doom warns stocks are oversold but S&P readies for another drop
Marc Faber Forecasts 30% Stock Market Crash, Says Buy Gold
The Market Oracle
The Fed's 'tapering' comments have ramped up market volatilaty and Faber gives some advice for short and long-term strategies. For example: ""The best course of action is to actually not buy anything, but rather to reduce positions on a rebound," Faber ...
Marc Faber: Bull in the short term, bear in the long term
... so perhaps it's best left to someone who has historically said “sell.” Marc Faber, author of the ”The Gloom, Boom & Doom Report,” and often called “Dr. Doom” because of his bearish sentiment, says there are buying opportunities — at least in the ...
Marc Faber: Gold a possible canary in the deflation coalmine
Here's what Marc Faber, editor of Gloom Boom Doom report told MarketWatch in an email. “Maybe gold is signaling a deflationary collapse of all asset prices. If this were indeed the case I suppose I would rather own gold than government bonds, high ...
MARC FABER: The Way Things Are Going, Bernanke Will Have To Give Us 96 ...
"Incredibly Bad Sentiment" Makes Gold & Bonds a Buy Says Marc Faber, as All ...
“Sentiment on Gold and Bonds Incredibly Negative” – Marc Faber Predicts ...
Marc Faber Sees Further Downside
China's factory output weakened to a 9-month low today, and financials saw a huge sell-off today, with the FM traders; and The Gloom, Boom and Doom Report's Marc Faber, shares his economic outlook. There's plenty of room for the stock market to decline ...
Marc Faber: More S&P downside, commodities 'horrible'…except gold
Marc Faber says 'thanks' to Bernanke
[An earlier version of this blog mistakenly attributed the comments to Marc Faber's blog. The original comments were made in an interview with Barron's on June 1. The comments were picked up Tuesday in a tracking blog that aggregates Faber's public ...
Dr. Doom Marc Faber: Don't Bet on New Market Highs
Faber said large cap stocks like McDonald's, Coca-Cola, Procter & Gamble and Wal-Mart "have most likely peaked." However, he thinks there are still stocks that show strength that could continue to appreciate "because all the money flows into fewer and ...
Marc Faber Is Glad He Owned Stocks, Even As He Warned Everyone Of Stock ...
"People with assets are all doomed, because prices are grossly inflated globally for stocks, bonds, and collectibles," says the investment advisor in a new interview published in this week's Barron's. But Faber is the first to admit that at least the ...
Marc Faber notes liquidity squeeze depressing stocks but still buying gold
Famously contrarian in his approach, Dr. Faber is usually out of step with Wall Street but has an excellent reputation for calling the major market turns. He does not say he is shorting equities, though he notes emerging market equities and currencies ...