Kf6vci Posted August 28, 2009 Share Posted August 28, 2009 Book: Bernard Connolly, The Rotten Heart of Europe I'm against the one-size-fits-all propaganda. Go back a few years and look at Ireland versus Italy. Or consider the recent national debt problems involving Greece. Or think about it as you sharing your financial future with 14 other blokes. Some will have better standing, some will have way more debt. As a Kraut, I would welcome a monetary union with Switzerland, The Netherlands and Luxembourg ********** About the rumor, I heard Europe is turning itself into a giant open air industrial park. The Euro might fall - but due to the recent spending spree by the U.S. I would see the Dollar falling. Next, the Thai Baht. Then - maybe - the Euro. Link to comment Share on other sites More sharing options...
loverboy44 Posted August 28, 2009 Share Posted August 28, 2009 Back when the down turn of the world money problems started i predicted that the Euro would tumble in Value, and the pound would rise again , This was on another site, The problem was that the Euro is heavily subsidized and has been kept at a false value for years , the smaller EU country's cannot sustain putting large amounts of money into the monetary fund , Country's like Ireland , just do not have the vast amount of money needed to keep the Euro at its present value, Time will tell And? What happened to your predictions? It's nearly one year after the crisis and the Euro is as strong as ever. I don't think you can compare the British Pound with the $ or EURO at all because the pound is not on the market in ammounts like the other 2. The next point is, apart from Spain and Ireland, the Euro zone haven't had the real estate bubble that the US and the UK have. Germany is the 3rd biggest economy in the world. Just add France, Spain, Netherlands and so on to that list and you will have a GDP nearly as big as the US. Can you compare this to the UK with their banking market. The Euro zone is rising again other than the UK. Ireland the Euro Zone can feather up out of the cashier. Who can buffer the UK. The Queen? As i said, if the oil producers get more support in their thinking of changing the world currency to the Euro, the Euro will rise and the US$ will fall. It is falling already. Or have you ever heard that priniting money raise the value of a currency. Link to comment Share on other sites More sharing options...
cdnvic Posted August 28, 2009 Share Posted August 28, 2009 One post deleted, please do not modify other people's quotes with colours, fonts, etc as it may change the context. Link to comment Share on other sites More sharing options...
badge Posted August 28, 2009 Share Posted August 28, 2009 air fares... i fly business or first for half the price i would have to pay in Europe. This is the most ridiculous statement Ive seen in a long time. Clearly you've never enquired to the cost of an airfare, made it up, or cant do simple multiplication. In anycase its one of a number of misinformed tidbits from your previous, gently insulting post. I would welcome any price comparisons to back your claims Naam. Unfortunately CDNVIC has deleted all the price comparisons I provided supporting my previous post, because it was in red. I won't waste any more time replying to such frivolous nonsense however; as W.C Fields said "Never give a sucker an even break" Ultimately my conclusion still stands; that day-to-day lifestyle costs for Expats in Bangkok are as expensive, or more expensive, than in capital cities in the west, unless you wish, or are willing to adopt a more Thai lifestyle. Link to comment Share on other sites More sharing options...
badge Posted August 28, 2009 Share Posted August 28, 2009 CDNVIC - Its a shame you felt you had to delete my previous post. Simply asking me to edit it, or sending the txt to me to change would of been thoughtful, but perhaps you have no inclination to do so. I do like(and subscribe) to your signature. Link to comment Share on other sites More sharing options...
Naam Posted August 28, 2009 Share Posted August 28, 2009 I won't waste any more time replying to such frivolous nonsense however; as W.C Fields said "Never give a sucker an even break" then we are in total agreement because that's what i am planning too Link to comment Share on other sites More sharing options...
fridgemagnet Posted August 28, 2009 Share Posted August 28, 2009 I thought the reason that the dollar couldn't Link to comment Share on other sites More sharing options...
fridgemagnet Posted August 28, 2009 Share Posted August 28, 2009 I thought the reason that the dollar couldn't Link to comment Share on other sites More sharing options...
sokal Posted August 29, 2009 Share Posted August 29, 2009 Sweden is trying negative interest rates hahahahahahahaha who said Swedes don't have a sense of humor ? Link to comment Share on other sites More sharing options...
Datsun240Z Posted August 29, 2009 Share Posted August 29, 2009 Swedes are crazy haha. Link to comment Share on other sites More sharing options...
LaoPo Posted August 29, 2009 Author Share Posted August 29, 2009 Sweden is trying negative interest rates hahahahahahahaha who said Swedes don't have a sense of humor ? : Who told you ? The Swedish key rate is at 0,25% since early July and will probably remain there for another year or so to boost the economy. Better don't laugh about Sweden.... Sweden, as well as Norway, are doing a lot better than the rest of Europe Sweden, Norway Will Outperform Euro Area Aug. 28 (Bloomberg) -- Sweden and Norway will enjoy a faster economic recovery than the euro area, boosting their currencies, as policy makers raise interest rates earlier than the European Central Bank, UBS AG economist Sunil Kapadia said. “These countries will be very early hiking rates,” Kapadia said in a telephone interview out of London yesterday. “We’re very bullish on the Nordics and recent data have supported that view.” http://www.bloomberg.com/apps/news?pid=new...id=amDW3II5dqRo In a few hours I will meet a long time Swedish friend of mine who's doing big business in the furniture business for hotels, restaurants, bars, convention centers etc. He's been selling like heck last year and up till now; he's on his way to France to sell to a large factory, making tables and chairs. The Swedish economy is in better shape than the rest of Europe. The Swedes are no fools, on the contrary so better don't laugh at Sweden. LaoPo Link to comment Share on other sites More sharing options...
jombom Posted August 29, 2009 Share Posted August 29, 2009 The last time I checked Sweden was not in the Eurozone. Neither does the price of American breakfast in Pattaya affect the euro. My 2 bahts worth is that the euro will be stable, and more affected by the value of the USD than anything else. If the USD goes down the Euro will go up, and vice versa Link to comment Share on other sites More sharing options...
LaoPo Posted August 29, 2009 Author Share Posted August 29, 2009 The last time I checked Sweden was not in the Eurozone. Can't you read Who was talking Eurozone ? "Sweden, Norway Will Outperform Euro Area" Euro Area means: € area. Sweden belongs to the European Union and the only difference is that they have their Kroner currency instead the Euro. LaoPo Link to comment Share on other sites More sharing options...
Naam Posted August 29, 2009 Share Posted August 29, 2009 LaoPo, does it make sense to discuss the paint mixture and brushstroke of an old master with blind people? Link to comment Share on other sites More sharing options...
LaoPo Posted August 29, 2009 Author Share Posted August 29, 2009 (edited) LaoPo, does it make sense to discuss the paint mixture and brushstroke of an old master with blind people? Aaahh, a famous painting by Rembrandt, The Anatomy Lesson of Dr. Nicolaes Tulp, painted in 1632 * Funny coincidence you ask: Last night there was a National and Live television show about handicapped young people with various handicaps. They ended with three possible candidates: 2 guys and 1 girl (one of the people who didn't make it to the final was an older man who was totally blind since he was eight yo; he was a car-mechanic !!! ) for the winning position to become: The Handicapped Person of the Year 2009/2010. The Minister-President of The Netherlands, Jan-Peter Balkenende was "transmitted" (there was an abnormal horrible thunderstorm with exceptional lightning at the time) via wireless transmission and opened an envelope (out of 3.....) with the winner: a chap in a wheelchair who accomplished many things as a handicapped person. One hour later: the (handicapped) Lady-Host was beamed in again................ She had to inform the complete National audience (most of whom went to bed already) that they made a mistake; it was another chap, not in a wheel chair, but still pretty handicapped who won the title........one happy handicapped, one unhappy handicapped.... Aaah well, talking about blind and/or handicapped. what a world! * I enjoyed lectures by Prof. Dr. Ernst van de Wetering about Rembrandt and his works at the University of Amsterdam, some 20 years ago; an exceptional fine Gentleman and great connoisseur of Rembrandt. note: sorry to have drifted off the road about the "Crash of the E U R O" Mea Culpa LaoPo Edited August 29, 2009 by LaoPo Link to comment Share on other sites More sharing options...
Datsun240Z Posted August 29, 2009 Share Posted August 29, 2009 Can't stand for Balkenende. Liberal prick.... Link to comment Share on other sites More sharing options...
flying Posted August 29, 2009 Share Posted August 29, 2009 (edited) Sweden is trying negative interest rates hahahahahahahaha who said Swedes don't have a sense of humor ? : Who told you ? The Swedish key rate is at 0,25% since early July and will probably remain there for another year or so to boost the economy. LaoPo Bankers watch as Swedish interest rates goes subzero Mervyn King, the Bank of England governor, has hinted he may follow the Swedish example as the danger of a so-called liquidity trap, where cash remains stuck in the banking system and does not filter out to the wider economy, is an increasing concern for the UK. http://edition.cnn.com/2009/BUSINESS/08/27...ro.interest.ft/ Edited August 29, 2009 by flying Link to comment Share on other sites More sharing options...
LaoPo Posted August 29, 2009 Author Share Posted August 29, 2009 Sweden is trying negative interest rates hahahahahahahaha who said Swedes don't have a sense of humor ? : Who told you ? The Swedish key rate is at 0,25% since early July and will probably remain there for another year or so to boost the economy. LaoPo Bankers watch as Swedish interest rates goes subzero Mervyn King, the Bank of England governor, has hinted he may follow the Swedish example as the danger of a so-called liquidity trap, where cash remains stuck in the banking system and does not filter out to the wider economy, is an increasing concern for the UK. http://edition.cnn.com/2009/BUSINESS/08/27...ro.interest.ft/ OK, I see: that's about DEPOSITS with a negative interest. Quite an interesting move by the Swedish Riskbank and unheard of in the present and past economy. I can see the point from the Swedish Riksbank putting negative interest rates in place and thus forcing people and banks to work and invest with their money rather than to sit on their @rses and wait for the money to grow. It's also a signal to commercial banks to finally move their @rses and start lending out money; it's about time. It's a good plan, boosting the circulation of money, and thus investments and thus growth for the economy. Clever. LaoPo Link to comment Share on other sites More sharing options...
thailandlover Posted August 29, 2009 Share Posted August 29, 2009 Can't stand for Balkenende. Liberal prick.... That is certainly an insightful and informative political opinion. It certainly changed my mind Link to comment Share on other sites More sharing options...
basjke Posted August 29, 2009 Share Posted August 29, 2009 Can't stand for Balkenende. Liberal prick.... Is that a recent picture of you in your avatar? Link to comment Share on other sites More sharing options...
basjke Posted August 29, 2009 Share Posted August 29, 2009 OK, I see: that's about DEPOSITS with a negative interest. Quite an interesting move by the Swedish Riskbank and unheard of in the present and past economy.I can see the point from the Swedish Riksbank putting negative interest rates in place and thus forcing people and banks to work and invest with their money rather than to sit on their @rses and wait for the money to grow. It's also a signal to commercial banks to finally move their @rses and start lending out money; it's about time. It's a good plan, boosting the circulation of money, and thus investments and thus growth for the economy. Clever. LaoPo I don't really understand your point about making the banks work.This just makes it easier for the banks since they get the money for free now so the risk to lose is much smaller. Link to comment Share on other sites More sharing options...
sokal Posted August 29, 2009 Share Posted August 29, 2009 It's a good plan, boosting the circulation of money, and thus investments and thus growth for the economy.Clever. LaoPo Dont take it personally, if the Bank of Canada did this I would laugh just as hard. I am still stunned, Negative interest rates ? hahahahaha I mean... Am I the only one that thinks that's funny ? Link to comment Share on other sites More sharing options...
flying Posted August 29, 2009 Share Posted August 29, 2009 It is funny in many respects... On the one hand like LaoPo said it ( the article ) suggests that by doing so folks will use money to help the economy & free it up a bit. BUT...............When this all started at least here in the US...They said folks spent like drunken sailors & that was the problem. So they admonished folks here for not saving & Living beyond their means. Now they say at least there that they do not want folks to save but use the money to help. Maybe the banks are just all fat now This is odd on another level...Banking How will they the bank survive? Without deposits they cannot leverage the deposit 10x & loan out (create assets) Hopefully they do not think they will have their cake & eat it too? Link to comment Share on other sites More sharing options...
LaoPo Posted August 29, 2009 Author Share Posted August 29, 2009 OK, I see: that's about DEPOSITS with a negative interest. Quite an interesting move by the Swedish Riskbank and unheard of in the present and past economy.I can see the point from the Swedish Riksbank putting negative interest rates in place and thus forcing people and banks to work and invest with their money rather than to sit on their @rses and wait for the money to grow. It's also a signal to commercial banks to finally move their @rses and start lending out money; it's about time. It's a good plan, boosting the circulation of money, and thus investments and thus growth for the economy. Clever. LaoPo I don't really understand your point about making the banks work.This just makes it easier for the banks since they get the money for free now so the risk to lose is much smaller. Maybe this helps for explaining things a little better (from Flying's link): " "If there is no sign of this over the next few months, then the Bank of England might consider a negative interest rate. In essence, it is a fine on banks that refuse to lend." In the UK, for example, nearly £140bn has been injected into the economy through central bank purchases of government bonds and corporate assets, mainly from the commercial banks. However, since the QE project was launched on March 5, a lot of this money, which in theory should be used by the commercial banks for lending to businesses and individuals, has ended up at the Bank of England in reserves. Commercial bank deposits have risen from £31bn in early March to £152bn at the end of July -- the latest figure. This in itself is not a problem as the banks could be using this big increase in their reserves to step up their lending to the private sector. The more the banks have in reserves, the more they are allowed to lend. However, there is no sign yet that they are using their much bigger reserves to lend on. The latest money supply figures for lending are still fairly anemic." From: http://edition.cnn.com/2009/BUSINESS/08/27...ro.interest.ft/ Yesterday I was at my bank with a friend of mine, widow since January; her mortgage will finish Monday Sept. 1 but the mortgage runs with another bank, her husband had contacts with. "My" bank, also hers, told us that it takes minimal 4-6 weeks to prepare a new mortgage. This is a Lady who has a substantial deposit with this bank and another income running with the same bank Meaning: the banks ended up in in the garbage bin last year and all governments saved them with enormous amounts of money....tax money that is (OUR money). Now, they're still sitting on that money to improve their balance sheets and refuse to lend their customers money and thus refusing to put oil into the complicated machinery of the economy. That's why a negative interest rate might help to boost the thinking of investors and bank idiots a bit in order to invest in the economy, rather than to deposit that same money into the hot laps of those same bank idiots who, in turn are just eager for their Xmas bonuses (yes, they're still in place) because they just showed the Board that their balance sheets are so much higher as that Board expected. So, if the banks won't get anymore deposits they are forced to act and DO something and start out lending and doing what they're good at: banking. Maybe the Swedes are not so dumb after all. LaoPo Link to comment Share on other sites More sharing options...
flying Posted August 29, 2009 Share Posted August 29, 2009 Makes sense LaoPo But also begs the question..... Why didn't the govt just find a better way One would be a direct stimulus to the people. I imagine folks would not just sit on that. They would pay their mortgages...buy needed goods & services etc. Secondly it is obviously true that the banks have done just what you described & sit on the money to improve their balance sheets. But worse still they probably have returned to the casinos thinking they can better it Link to comment Share on other sites More sharing options...
sokal Posted August 29, 2009 Share Posted August 29, 2009 OK, I see: that's about DEPOSITS with a negative interest. Quite an interesting move by the Swedish Riskbank and unheard of in the present and past economy.I can see the point from the Swedish Riksbank putting negative interest rates in place and thus forcing people and banks to work and invest with their money rather than to sit on their @rses and wait for the money to grow. It's also a signal to commercial banks to finally move their @rses and start lending out money; it's about time. It's a good plan, boosting the circulation of money, and thus investments and thus growth for the economy. Clever. LaoPo I don't really understand your point about making the banks work.This just makes it easier for the banks since they get the money for free now so the risk to lose is much smaller. Maybe this helps for explaining things a little better (from Flying's link): " "If there is no sign of this over the next few months, then the Bank of England might consider a negative interest rate. In essence, it is a fine on banks that refuse to lend." In the UK, for example, nearly £140bn has been injected into the economy through central bank purchases of government bonds and corporate assets, mainly from the commercial banks. However, since the QE project was launched on March 5, a lot of this money, which in theory should be used by the commercial banks for lending to businesses and individuals, has ended up at the Bank of England in reserves. Commercial bank deposits have risen from £31bn in early March to £152bn at the end of July -- the latest figure. This in itself is not a problem as the banks could be using this big increase in their reserves to step up their lending to the private sector. The more the banks have in reserves, the more they are allowed to lend. However, there is no sign yet that they are using their much bigger reserves to lend on. The latest money supply figures for lending are still fairly anemic." From: http://edition.cnn.com/2009/BUSINESS/08/27...ro.interest.ft/ Yesterday I was at my bank with a friend of mine, widow since January; her mortgage will finish Monday Sept. 1 but the mortgage runs with another bank, her husband had contacts with. "My" bank, also hers, told us that it takes minimal 4-6 weeks to prepare a new mortgage. This is a Lady who has a substantial deposit with this bank and another income running with the same bank Meaning: the banks ended up in in the garbage bin last year and all governments saved them with enormous amounts of money....tax money that is (OUR money). Now, they're still sitting on that money to improve their balance sheets and refuse to lend their customers money and thus refusing to put oil into the complicated machinery of the economy. That's why a negative interest rate might help to boost the thinking of investors and bank idiots a bit in order to invest in the economy, rather than to deposit that same money into the hot laps of those same bank idiots who, in turn are just eager for their Xmas bonuses (yes, they're still in place) because they just showed the Board that their balance sheets are so much higher as that Board expected. So, if the banks won't get anymore deposits they are forced to act and DO something and start out lending and doing what they're good at: banking. Maybe the Swedes are not so dumb after all. LaoPo Wrong, You are a Keynesian. Keynesianism does not work,watch this video and learn. Educate yourself, study Austrian ecomomics. Link to comment Share on other sites More sharing options...
LaoPo Posted August 29, 2009 Author Share Posted August 29, 2009 Wrong,You are a Keynesian. Keynesianism does not work,watch this video and learn. Educate yourself, study Austrian ecomomics. ...I hate watching these kind of YouTube movies, especially if they're talking about spending more money by governments if that's what this movie is all about. I think you missed my point completely as I'm a fierce anti-government-spending believer. I believe in free enterprise and economics, not in stupid governments and stupids banks whom were begging those stupid governments for (our) tax money so that they could be saved because they made a little money disappear.... But, not watching the movie, I prefer to have a lecture given by professor Sokal..... so: professor, be my guest and educate this ignorant member; I'm all eyes and never too old to learn. LaoPo Link to comment Share on other sites More sharing options...
loverboy44 Posted August 30, 2009 Share Posted August 30, 2009 What has this all to do with this thread of a possible Euro crash? By the way Austrian Economics.......LOL........this will surely change the world......but only the world of laughter. Link to comment Share on other sites More sharing options...
jombom Posted August 30, 2009 Share Posted August 30, 2009 The last time I checked Sweden was not in the Eurozone. Can't you read Who was talking Eurozone ? "Sweden, Norway Will Outperform Euro Area" Euro Area means: € area. Sweden belongs to the European Union and the only difference is that they have their Kroner currency instead the Euro. LaoPo Yes, I can read, and in Wikipedia it says that Eurozone and Euro Area are same same. If you wish to be pedantic, Kroner are used in Norway. However, you seemed to have missed the point I was trying to make, because you have since added a long post about the UK (sterling and not euro) and another post about a Rembrandt painting. As you started this thread, one assumes you have some interest in the topic. Perhaps this gives you some licence to wander hopelesly back and forth. Even tho' Rembrandt was from Europe, I don't think he ever saw a euro. However, you added the phrase ''mea culpa'' when you realised. Hitting the delete button, would have been a better solution, and saved many of us from wasting brain cells on absolute drivel. Is it ok for me to finish with some pre-euro latin also? Quod erat demonstrandum (Q.E.D. , but then why use 3 letters when 21 will fit on the page ?) p.s. It's a lovely day here on the coast of the Gulf of Thailand. Time for my swim. Link to comment Share on other sites More sharing options...
Datsun240Z Posted August 30, 2009 Share Posted August 30, 2009 The last time I checked Sweden was not in the Eurozone. Can't you read Who was talking Eurozone ? "Sweden, Norway Will Outperform Euro Area" Euro Area means: € area. Sweden belongs to the European Union and the only difference is that they have their Kroner currency instead the Euro. LaoPo Yes, I can read, and in Wikipedia it says that Eurozone and Euro Area are same same. If you wish to be pedantic, Kroner are used in Norway. However, you seemed to have missed the point I was trying to make, because you have since added a long post about the UK (sterling and not euro) and another post about a Rembrandt painting. As you started this thread, one assumes you have some interest in the topic. Perhaps this gives you some licence to wander hopelesly back and forth. Even tho' Rembrandt was from Europe, I don't think he ever saw a euro. However, you added the phrase ''mea culpa'' when you realised. Hitting the delete button, would have been a better solution, and saved many of us from wasting brain cells on absolute drivel. Is it ok for me to finish with some pre-euro latin also? Quod erat demonstrandum (Q.E.D. , but then why use 3 letters when 21 will fit on the page ?) p.s. It's a lovely day here on the coast of the Gulf of Thailand. Time for my swim. Nope, The Dutch old Coin: De Gulden. Link to comment Share on other sites More sharing options...
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