Is the end nigh for the Euro? [vol. 2]
Discussion
eharding said:
Germany claiming Merkel said nothing of the sort in the call, and it was all an error of translations.
The Greek President, a fluent German speaker, thought she said 'Volksentscheid'.
Merkel, who thought she had the mute button pressed down, actually said "F
ks and Shytes", referring to the French in a side conversation with an adviser who was sitting in on the call.
This is how wars start.
I'm convinced that Nuclear Armageddon will eventually arrive as a direct result as a botched attempt to use the mute button in a teleconference.
The Greek President, a fluent German speaker, thought she said 'Volksentscheid'.
Merkel, who thought she had the mute button pressed down, actually said "F
ks and Shytes", referring to the French in a side conversation with an adviser who was sitting in on the call.This is how wars start.
I'm convinced that Nuclear Armageddon will eventually arrive as a direct result as a botched attempt to use the mute button in a teleconference.
Not quite the same thing, but I'm reminded of the fairly terrible 'Whoops Apocalypse'.Steffan said:
Riff Raff said:
mondeoman said:
Timescales, we need timescales.
Are we looking at this week, next week, next month, summer, autumn, whenever?
This has been dragging on for years now, but no-one has actually pushed the button yet, so whats the considered opinion of when Greece will do the decent thing and jump?
They don't want to jump though. They want to have their cake and eat it.Are we looking at this week, next week, next month, summer, autumn, whenever?
This has been dragging on for years now, but no-one has actually pushed the button yet, so whats the considered opinion of when Greece will do the decent thing and jump?
The EU will not then be able to (understandably) seek to dominate the government of Greece.
But the EU can extend these defaults with more lovely subsidy. Difficult call.
The same drawn out process will apply to all the other HBAT's, But they will all default. IMO when Italy goes, the EU goes. So I would expect a great deal of manipulation, dishonesty and deliberate obfuscation from the EU.
But the realities of the economies failing totally remain unchanged.
"If wishes came true we would all be kings" could become the EU epitaph.
I was accurate a month to the day.
As I said in April, the markets called it at Easter and they decided it was time. By "the markets" I mean the chaps with the money. Positions had been taken, the bases loaded and it was time to pull the plug and take the Euro to the cleaners on the exchange rates.
Billions have been made in the last month and more will be made in the next month. I was asked last month on here or one of the other threads in NPE, where to shove your money and I said short the Euro, it was about to be massacred.
Welcome to the massacre.
davepoth said:
WhoseGeneration said:
Ain't going to be another boom in the West, that's what the politicians know and have been told.
Why?, no way to inflate wages.
The principal driver to inflation is raw materials costs. As demand increases globally, the price of raw materials will rise, causing an increase in inflation. The boom doesn't actually have to be here for the inflation to occur.Why?, no way to inflate wages.
The days of dealing with competition by sending a few gunboats and getting china hooked on opium are long gone. The British military competitive advantage now consists of good deals on Iraqi oil, Afghan copper mines, Nigerian oil and some potential oil in the Falklands. I simplified that sentence but you get the idea that we aren't talking world empire here.
Looking at European countries like Greece I see zero military domination and as such they have zero right to expect the access to cheap raw materials which funds any higher standard of living. As such they must compete on a level playing field with Botswana, Vietnam or anyone else who doesn't have an expansionist military.
Don't get me wrong, I hate war and all that goes with it but we must understand that the consequence of peace is a level playing field. This is one of the major causes of the debt crisis and means Europe must work its way back to prosperity rather than hanging on the coat tails of empire.
Yes we may have to tighten our collective belts, but if that is the cost of world peace then I for one have no problem with this.
Edited by Tartan Pixie on Saturday 19th May 09:26
DJRC said:
I gave the timescale on the 15th April.
I was accurate a month to the day.
As I said in April, the markets called it at Easter and they decided it was time. By "the markets" I mean the chaps with the money. Positions had been taken, the bases loaded and it was time to pull the plug and take the Euro to the cleaners on the exchange rates.
Billions have been made in the last month and more will be made in the next month. I was asked last month on here or one of the other threads in NPE, where to shove your money and I said short the Euro, it was about to be massacred.
Welcome to the massacre.
So what do I do with my Euros and who are these people who have made billions?I was accurate a month to the day.
As I said in April, the markets called it at Easter and they decided it was time. By "the markets" I mean the chaps with the money. Positions had been taken, the bases loaded and it was time to pull the plug and take the Euro to the cleaners on the exchange rates.
Billions have been made in the last month and more will be made in the next month. I was asked last month on here or one of the other threads in NPE, where to shove your money and I said short the Euro, it was about to be massacred.
Welcome to the massacre.
Driller said:
DJRC said:
I gave the timescale on the 15th April.
I was accurate a month to the day.
As I said in April, the markets called it at Easter and they decided it was time. By "the markets" I mean the chaps with the money. Positions had been taken, the bases loaded and it was time to pull the plug and take the Euro to the cleaners on the exchange rates.
Billions have been made in the last month and more will be made in the next month. I was asked last month on here or one of the other threads in NPE, where to shove your money and I said short the Euro, it was about to be massacred.
Welcome to the massacre.
So what do I do with my Euros and who are these people who have made billions?I was accurate a month to the day.
As I said in April, the markets called it at Easter and they decided it was time. By "the markets" I mean the chaps with the money. Positions had been taken, the bases loaded and it was time to pull the plug and take the Euro to the cleaners on the exchange rates.
Billions have been made in the last month and more will be made in the next month. I was asked last month on here or one of the other threads in NPE, where to shove your money and I said short the Euro, it was about to be massacred.
Welcome to the massacre.
kers!! Wtf do you think you should have done with them??!! Its not frigging rocket science.The money chaps, esp the forex industry. In fact anybody who trades in currency and money flows. Im exposed massively to the Chf/GBP rate and its been moving shockingly against me for the last few months, so to cover that loss Ive been shorting the CHF against the GBP and shorting the Euro against them both.
You havent benefitted? Well frankly its every man for himself at the moment, but then you have known that for the best part of the year. You were told last year, repeatedly, that it was a race to the bottom and the Euro was most likely to form the bottom rung.
DJRC said:
.. You were told last year, repeatedly, that it was a race to the bottom and the Euro was most likely to form the bottom rung.
Agreed, but the Euro is seemingly stronger than anyone would expect with all the woes. Eurobonds soon? Regardless it will weaken a tad more, but I expect a "Northern Euro" will bounce back eventually.G8 announcements this weekend.
DJRC said:
eh? You should have sold the fkers!! Wtf do you think you should have done with them??!! Its not frigging rocket science.
You know, you really come across as an arrogant tkers!! Wtf do you think you should have done with them??!! Its not frigging rocket science.t sometimes but then I guess you'd know that 
Explain this to me: I sell Euros and buy say Sterling. When I sell the Euros it is €1.15 to the £1.00.
I pay about 10% commission to change them into pounds. When the Euro rate had/has gone back up to say €1.25 to the £1.00 I change them back into Euros and pay another 10% commission.
In other words not a lot has changed and I've messed around a lot.
Now imagine that you guess the Euro is going to fall, you sell them, lose 10% commission and then nothing moves.
Now what the f
k would YOU do in that situation?This is why I hate all this playing with money bulls
t. There is no honour in this, no integrity.
davepoth said:
motco said:
I visited the de la Rue site (Hampshire?) when it was the previous company, Portals, and they told me that with some African nations they have made the watermarks (carved from wax by artists) but by the time they were due to run the paper (they didn't print in those days, only made the paper) the President had been deposed so they had to start the artwork all over again.
It's all done with computers these days, which speeds it up a lot. But in the archives there's a load of stuff like that. My favourite was the Confederate States of America stamps. Driller said:
You know, you really come across as an arrogant tt sometimes but then I guess you'd know that
Explain this to me: I sell Euros and buy say Sterling. When I sell the Euros it is €1.15 to the £1.00.
I pay about 10% commission to change them into pounds. When the Euro rate had/has gone back up to say €1.25 to the £1.00 I change them back into Euros and pay another 10% commission.
In other words not a lot has changed and I've messed around a lot.
Now imagine that you guess the Euro is going to fall, you sell them, lose 10% commission and then nothing moves.
Now what the fk would YOU do in that situation?
This is why I hate all this playing with money bullst.
There is no honour in this, no integrity.
10%? You don't have to pay tourist rates you know. I only use euro/usd to pay suppliers but even on the account I have it only costs a fraction of a percent (0.2% + £5 per transaction at present) to move money between gbp and usd or euro.t sometimes but then I guess you'd know that Explain this to me: I sell Euros and buy say Sterling. When I sell the Euros it is €1.15 to the £1.00.
I pay about 10% commission to change them into pounds. When the Euro rate had/has gone back up to say €1.25 to the £1.00 I change them back into Euros and pay another 10% commission.
In other words not a lot has changed and I've messed around a lot.
Now imagine that you guess the Euro is going to fall, you sell them, lose 10% commission and then nothing moves.
Now what the f
k would YOU do in that situation?This is why I hate all this playing with money bulls
t. There is no honour in this, no integrity.
Driller said:
You know, you really come across as an arrogant tt sometimes but then I guess you'd know that
Explain this to me: I sell Euros and buy say Sterling. When I sell the Euros it is €1.15 to the £1.00.
I pay about 10% commission to change them into pounds. When the Euro rate had/has gone back up to say €1.25 to the £1.00 I change them back into Euros and pay another 10% commission.
In other words not a lot has changed and I've messed around a lot.
Now imagine that you guess the Euro is going to fall, you sell them, lose 10% commission and then nothing moves.
Now what the fk would YOU do in that situation?
This is why I hate all this playing with money bullst.
There is no honour in this, no integrity.
10% commission? I don't think he's suggesting you pop down Thomas Cook's to change your euro cash up into teens and twentys.t sometimes but then I guess you'd know that Explain this to me: I sell Euros and buy say Sterling. When I sell the Euros it is €1.15 to the £1.00.
I pay about 10% commission to change them into pounds. When the Euro rate had/has gone back up to say €1.25 to the £1.00 I change them back into Euros and pay another 10% commission.
In other words not a lot has changed and I've messed around a lot.
Now imagine that you guess the Euro is going to fall, you sell them, lose 10% commission and then nothing moves.
Now what the f
k would YOU do in that situation?This is why I hate all this playing with money bulls
t. There is no honour in this, no integrity.
Proper commercial rates are very clean.
Driller said:
I have never seen rates as low as this and have looked everywhere.
Still doesn't account for the "move money around and nothing happens" scenario.
I have to move money between GBP and EUR on a regular basis. I do it through on line banking, and normally get a rate that is reasonably close to spot. Reasonably in this case is where the big figure is a couple off, but that is as close as a non-pro is going to get.Still doesn't account for the "move money around and nothing happens" scenario.
RYH64E said:
10%? You don't have to pay tourist rates you know. I only use euro/usd to pay suppliers but even on the account I have it only costs a fraction of a percent (0.2% + £5 per transaction at present) to move money between gbp and usd or euro.
Who is that with? Anyone got any opinions where the GBP/USD is heading?
Well this was classic Euro blindness from that blinkered imbecille Baroso waving his arm around on the podium saying,
"We have no plan B there is no plan B Greece must stay in the Euro" His dillusion is frankly both stupid and appalingly without ANY morals.
The cracks are running only a matter of time now.....idiot.
"We have no plan B there is no plan B Greece must stay in the Euro" His dillusion is frankly both stupid and appalingly without ANY morals.
The cracks are running only a matter of time now.....idiot.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff