Sol Sanders | Follow the money No. 91 | The ABCs of the Euro crisis - News and Current Events | futures io social day trading
futures io futures trading

Sol Sanders | Follow the money No. 91 | The ABCs of the Euro crisis
Updated: Views / Replies:328 / 0
Created: by Quick Summary Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

Sol Sanders | Follow the money No. 91 | The ABCs of the Euro crisis

  #1 (permalink)
Quick Summary
Sol Sanders | Follow the money No. 91 | The ABCs of the Euro crisis

Latest from Uncle Sol. A version of this column is scheduled for publication Monday, November 7, 2011, in The Washington Times -- Chris

Follow the money No. 91 | The ABCs of the Euro crisis
Sol Sanders <a href="" title="">

The kaleidoscope of events and mock-events is moving so rapidly in the European crisis, even a dedicated netizen following events finds himself bemused.

It might be good to look at a little history:

The European effort to unify – after two bloody civil wars of near annihilation and the post-World War II threat of Soviet Communism – began with economic integration. Political unity, given the long history of European national, racial and ethnic conflicts, its mainly original French and German sponsors thought, would eventually fall into place were economic coordination achieved. Somewhere down the line, again it was assumed by the idealistic if elitist thinkers, a united Europe would achieve something like North American unity.

A step-by-step customs union followed the 1951 relatively primitive six-nation European Iron and Steel Community, the initial European Union amalgamation seed. That body reorganized the then most important industry in the face of diminishing domestic raw materials and need for revised marketing. But when the visionaries – often slowed down by parochial interests – in 1995 finally got to monetary union, they jumped a cog. For the relatively easy creation of a common currency and a central bank did not insure – nor was it more than theoretically acknowledged – amalgamating national economic policies, and perhaps more important, their bureaucracies. In fact, of course, some of the strongest economies such as Britain and Scandinavia’s opted out with reliance on the vaunted deutschemark’s incorporation as its bedrock. To do otherwise would have required commonality that did not exist even among the most advanced economies, much less their less developed members at almost “third world” economic levels.

It was inevitable when [not if], a major new economic crisis hit the world economy, the Euro would be imperiled. For it was being used by participating governments for their own individual economic strategies rather than any common development. German Chancellor Angela Merkel may now well say the Euro’s preservation is the issue, not Greece’s more parochial interests, But that, too, is 20-20 hindsight. It derives from the major EU members [again excluding Britain and Scandinavia] making another mistake: their inability to solve the Euro crisis quickly has made it a talisman for the continued successful pursuit of European unity.

In fact, the southern Europeans pretended their Euro was a truthful representation of their productivity. They could, therefore, use its perceived unlimited resources to fund a standard of living which their productive capacity did not, in fact, support. Outrageous “benefits” – retirement age in Greece at 50 – were accorded a population only a generation away from the horrors and privations of World War II and the worldwide “Great Depression” which helped produce it. Increasingly, cities like Barcelona and Athens took on la dulce vida they could not really afford with their artificial Euro.

Crunch-time revealed a stark dilemma: northern European taxpayers with their higher productivity must rescue their southern European spendthrift compatriots, or southern Europeans face slashing their living standards to levels not seen for a generation. The German taxpayers, their French fellowtravelers, as well as minor players, Dutch, Austrians, Finns, Estonians, Czechs, are yelling foul. Furthermore, there is danger such cutbacks may reach the bone, destroying these poorer economies’ ability to restart the longer process of achieving higher productivity and the just rewards of higher living standards. [This is a fundamental problem of continental economies with backward areas, not unknown even in the U.S. with its vast homogenization. One element in the present American economic debate: how far does federal taxpayers’ largesse extend to Mississippi and Arkansas?]

What’s at risk, of course, is the whole concept of post-World War II universal European representative government after the fall of Communism. There was applause in obscure corners for Greek Prime Minister George Papandreou’s threat to take the issue of Greek “suffering” to the people for a referendum rather than impose it even from an elected government. Good try! But perhaps to the long term detriment of true European democracy, North European leaders’ threats and Greek politicos’ own maneuvering will again permit a papering over. The risk is grave, of course, mandated “solutions” – the curse of Brussels for a generation now – may run into bedrock popular resistance, even civil unrest.

Can the center hold in perpetuity as it could not in the 1930s? may be the question of the hour.


More on ZeroHedge...

Reply to share your thoughts on this current event.


futures io > > > > Sol Sanders | Follow the money No. 91 | The ABCs of the Euro crisis

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5

Similar Threads
Thread Thread Starter Forum Replies Last Post
A Brief Guide To The Euro Crisis Quick Summary News and Current Events 1 October 28th, 2011 10:50 AM
'We Still Do Not Have a Euro Crisis': Economist Quick Summary News and Current Events 0 October 20th, 2011 05:10 AM
ABCs for TOS tonylipton ThinkOrSwim Programming 6 October 12th, 2011 03:26 PM
Latest Solution for Euro Crisis: Not What the Markets Wanted Quick Summary News and Current Events 0 August 16th, 2011 03:00 PM
Does the Euro Zone's Crisis Have Its Own AIG? Quick Summary News and Current Events 0 June 23rd, 2011 07:10 AM

All times are GMT -4. The time now is 10:38 PM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-05-25 in 0.06 seconds with 19 queries on phoenix via your IP