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View Diary: If the Euro fails. (282 comments)

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  •  Do you know the old saw... (8+ / 0-)
    Recommended by:
    714day, Siri, DRo, Chi, Losty, ozsea1, bobinson, Joe Bob

    that the smart money is early?

    I first heard about the derivatives mess in October of 2006 on a yahoo group for people looking to leave the U.S.  

    Talk about the end of the Euro would get you branded a truther/wack job on this site not that long ago at all.  

    I bolded the line that stuck with me.  Hope you are well wherever you may be Markus.

    Hey all:  

    I am not an EXPERT but I do have a background and degree in finance, and I do not have a crystal ball, but there is a crash coming, you do not need to be a psychic to figure that out.  For the purposes of this site it is crucial that this dollar demise/world depression be kept in mind when selecting a place to go to.  

    I believe that when the time comes, and I rate the chances at about 50% in 12 months, nearing 100% in 24 months, and absolutely positively before Bush leaves office, I beleive that MANY places that are now havens for ex-pats will be much harder hit than the USA.  Do not look to the Euro as a "new dollar."  It will also go boobs up, as may the European Union itself, they came very close a few months ago when more than one nation refused to ratify the constitution in a plebicite, Germany refused to have a plebicite and allowed the German Parliament to decide the matter because she new the people would reject it.  See this from Google a few days ago,

    10.03.2006

    Prague- European Parliament President Josep Borrell considers the current text of the European constitution doomed, Czech Chamber of Deputies chairman Lubomir Zaoralek told CTK after a meeting with Borrell today.

    According to Zaoralek, Borrell believes that it would be easier to reach an agreement on the EU constitution if the process began from the very beginning and with a new text."

    The French will never ratify the current version.  I keep up on it because I have American and Irish/EU dual citizenship.  Anybody wanting information about getting a passport I am glad to help.  My Dad was Irish so for me it was easy, but if you or your spouse has a grandparent/parent with Irish citizenship you can too and it is legal because Ireland does not require an oath so the USA permits it.

    As I posted at Huff, if you are having dinner one night soon and hear the word derivatives on the nightly news, RUN and do not walk to the store and buy all the canned goods and toilet paper (which may be a new form of currency when the dollar fails, it will certainly be worth more)that you can carry.

    Markus

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