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<p>[QUOTE="fatima, post: 876585, member: 22143"]Yep. The fundamental problems behind the Euro, and it is not equivalent to the $ or any sovereign currency in the world, are showing their face now that things have gotten ugly. Poor countries that entered the Eurozone are treating it like a big credit card, while the rich countries are being told to pay the bill. The problem is that nobody is standing up and saying "I am European, we must make it work". Instead it's, what is good for Germany, Greece, Spain, etc etc. As bad off as the $ is, at least it's people still support it, it's not a creation of treaties, and there isn't a chance the USA will dump it for something else. Most have missed this over the years and have touted the Euro as a good alternative reserve currency. Now that its "danger danger Will Robinson", there are people panicking, and are looking for alternatives. </p><p><br /></p><p>While the Eurozone (where Euro is used) might not break up, the events right now sure don't give people with assets denominated in Euros a good feeling that things will be fine. In other words if the country I am in leaves the Eurozone and goes back to the original currency, what will be the conversion? My guess, not a good one. If another country did this, what happens to the Euro? </p><p><br /></p><p>It's this uncertainty that is driving people with the means to put their money in elsewhere. So what choices do they have? They can put money in banks in other currencies. Some options are the Swiss Frank, British Pound, and of course the $. A lot of money is doing this. I can't speak for the Swiss Frank, but the Pound is heading to the toilet too so that leaves the $. haha. Ones in the know however, and probably the ones in the know enough to know the issues, are probably buying PMs and probably that is mostly gold.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 876585, member: 22143"]Yep. The fundamental problems behind the Euro, and it is not equivalent to the $ or any sovereign currency in the world, are showing their face now that things have gotten ugly. Poor countries that entered the Eurozone are treating it like a big credit card, while the rich countries are being told to pay the bill. The problem is that nobody is standing up and saying "I am European, we must make it work". Instead it's, what is good for Germany, Greece, Spain, etc etc. As bad off as the $ is, at least it's people still support it, it's not a creation of treaties, and there isn't a chance the USA will dump it for something else. Most have missed this over the years and have touted the Euro as a good alternative reserve currency. Now that its "danger danger Will Robinson", there are people panicking, and are looking for alternatives. While the Eurozone (where Euro is used) might not break up, the events right now sure don't give people with assets denominated in Euros a good feeling that things will be fine. In other words if the country I am in leaves the Eurozone and goes back to the original currency, what will be the conversion? My guess, not a good one. If another country did this, what happens to the Euro? It's this uncertainty that is driving people with the means to put their money in elsewhere. So what choices do they have? They can put money in banks in other currencies. Some options are the Swiss Frank, British Pound, and of course the $. A lot of money is doing this. I can't speak for the Swiss Frank, but the Pound is heading to the toilet too so that leaves the $. haha. Ones in the know however, and probably the ones in the know enough to know the issues, are probably buying PMs and probably that is mostly gold.[/QUOTE]
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