For those who love to condemn the euro, please be rationale for a moment. In Euroland there has been much government inflicted economic suffering. In the Union of the Dollar, the USA, there has been nothing but stimulation and banksters getting free passes. As horrible as it is, Euroland has kicked off the confiscation of depositors funds called bail-ins. In Euroland the gold held in reserve is valued at market prices. In the USA the gold reserve is valued at a phony $42 and change. Gold will be worn as a neckless around the neck of the Euro.
The USA is a monetary union of individual states that are in as much financial difficulty, some more, as any member of the European Union. Mainstream media’s greatest success is to condemn Euroland while applauding the dollar and hiding the financial condition of the majority of states. That is total nonsense. When it is all done and finished Euroland took measures that no state of the USA will ever take
Now we have a proposal which when adopted would be a Euroland Blockbuster. A direct kick in the slats of Shadow Banking, something that will never occur in the USA. Euroland would unravel the collateral chains of Shadow Banking there, if you can call it that, a knee capping. The USA has emasculated new bank regulations, making a fool of Volcker’s name of part of it. The USA entertains all the flim flam of the Bankster and Brokesters. Since Banksters and Brokesters own Washington there is little hope of any change.
This is, in the final analysis, more evidence that the Euro in whatever form it ends up, two or one, will take ascendancy over the dollar, certainly if these proposal become solid action.
The new currency arrangements will not be made by Washington but rather by Euroland and the BRICS.
Physical gold will be emancipated from fraudulent no gold paper casino.