I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Sun Feb 25, 2007 8:01 pm Post subject: Come back, euro - all is forgiven
Come back, euro - all is forgiven
Ivan Massow
Published 26 February 2007
In one area, David Cameron refuses to budge from old certainties - the single currency. Here, a Tory moderniser announces his own conversion, and urges his party to think again
As a businessman and friend to the Notting Hill set, I helped found
the "No Euro" group because I felt the UK could do better
independently. I have become gradually and painfully aware that I was wrong. My concerns about the currency never came to fruition. Now the pound looks antiquated and sets us uncomfortably apart from the rest of Europe. The euro has become the world's favourite - and most stable - currency and no country has lost its identity.
Joined: Dec 07, 2005 Posts: 1983 Location: Australia
Posted: Sun Feb 25, 2007 10:26 pm Post subject: Re: Come back, euro - all is forgiven
Quote:
LONDON (Dow Jones)--The euro made small gains as a reserve currency at the expense of the U.S. dollar in the final months of 2006, while gold is set to make a comeback as a reserve asset, a survey by Central Banking Publications showed Monday.
...
Of the 47 central banks that responded by December to the survey, 21 of them, managing reservesof $630 billion, said they had increased the share of their reserves held as euros, and 15 of thosesaid they had done so at the expense of the dollar.
FXStreet _________________ It's not a bailout, it's a buy-in" - Nancy Pelosi
Joined: Mar 26, 2005 Posts: 3884 Location: over here
Posted: Mon Feb 26, 2007 9:41 am Post subject: Re: Come back, euro - all is forgiven
Still I don't see the UK joining the Euro before the PO crisis hits, and chances for them wanting to join in such a crisis seem minimal to me. _________________ "The best thing about the future is that it comes only one day at a time."
Joined: Jun 15, 2006 Posts: 107 Location: Gothenburg, Sweden
Posted: Tue Feb 27, 2007 6:56 am Post subject: Re: Come back, euro - all is forgiven
An odd notion of the 1st author that the brits would ever join the club as an equal or superior member to the two lead powers Germany and France. Is it the imperial thinking still muddling their thoughts?
Joined: Mar 26, 2005 Posts: 3884 Location: over here
Posted: Thu Mar 01, 2007 12:32 pm Post subject: Re: Come back, euro - all is forgiven
ferrelgiraffe wrote:
Can anyone tell me what will happen when you chain three bulldogs together and throw away the key?
That's a rather unsettling metaphore and I think it's very untrue too; if you know the history of EU you know it was founded to prevent further wars by the members themselves. And there's no bad feelings among the members what so ever. Of course there are people who are against further integration (I have big doubts about that myself) but the european people feel very related through a common culture and history and all know there is no future without at least a european union of some sort. _________________ "The best thing about the future is that it comes only one day at a time."
Posted: Fri Mar 02, 2007 1:03 pm Post subject: Re: Come back, euro - all is forgiven
Bas wrote:
ferrelgiraffe wrote:
Can anyone tell me what will happen when you chain three bulldogs together and throw away the key?
That's a rather unsettling metaphore and I think it's very untrue too; if you know the history of EU you know it was founded to prevent further wars by the members themselves. And there's no bad feelings among the members what so ever. Of course there are people who are against further integration (I have big doubts about that myself) but the european people feel very related through a common culture and history and all know there is no future without at least a european union of some sort.
Well, the future of a world war in Europe are zero! It is a waste of time to even consider it!! There are other real problems in the world!!!
Any battles in the EU are over budgets. Serious stuff, but not the stuff that leads to war.
I wish peak oil dot com could deal with post peak oil resource depletion and forget politics from the 1900s!
Try to use your big brains for the future!! _________________ The organized state is a wonderful invention whereby everyone can live at someone else's expense.
Posted: Mon Mar 05, 2007 5:43 pm Post subject: Re: Come back, euro - all is forgiven
It's true, in Europe we've got the same communications, languages and economic law (on a macro level at least). The EU is homogenising more and more with every passing decade, cities look similar, policy freely traded, national borders often having no greater significance than statelines, and a couple of languages will see you through anywhere (in fact I bet soon a knowledge of Spanish will be as helpful in the US as a knowledge of something other than English still is in Europe).
For the purposes of dealing with peak, you might as well consider the EU to be a single country with some internal variation. People who believe energy shortages will push EU member states onto the battlefield are deluded and really need to spend some time living here.
Post-peak you will probably see a lot of very loud legal mud-slinging over inappropriate one-size-fits-all economic policies imposed from the centre (it's just background noise now), but anything beyond that is about as likely as American states seceding from the Union. _________________ Volatility. When life isn't exciting enough.
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