Thursday, May 19, 2016

The Death Of The Euro
"The collapse of the euro is underway .. The ECB monetary policy has been typical banker nonsense and has brought Europe closer to a major financial crash. Draghi has applied the unsupported quantity of money theory and assumes he will simply buy in the debt and the cash will miraculously be spent wildly by consumers. Trading volumes and the velocity of money have been falling in general since 1996-1998. The low to negative interest rate policy of the ECB has endangered pensions and ailing banks, and this is just now beginning to push pensions and banks over the edge. Draghi will not admit he is wrong, so he will blame everyone other than himself .. We are looking at a complete global financial meltdown of the world financial system .. The construct of the common European currency is no longer sustainable. A completely new monetary system will be introduced as early as 2018. The fiscal mismanagement of government perpetually borrowing money they have no intention to pay back threatens a complete collapse of the world financial system .. The survivability of the euro has now crossed the point of no return."
- Martin Armstrong
link here to the reference

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