1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar
Source link: http://archive.mises.org/15350/up-with-bagus-2/

Up with Bagus!

January 18, 2011 by

In this small gem of a book Professor Philipp Bagus of Universidad Rey Juan Carlos in Madrid has given us much more than an explanation of why the euro will fail the common man in Europe. FULL ARTICLE by Patrick Barron

{ 1 comment }

Ohhh Henry January 18, 2011 at 10:40 am

Great article, and no doubt it’s a great book.

… the euro is the resource that is being plundered by the European elite in its bid for centralized power and special privileges at the expense of the common European citizen …

The essential operating word is “plunder”.

Speaking of Euro plunder, here is an interesting tidbit that the goldbugs turned up:

Ireland quietly printing Euros? The latest data shows that Anglo Irish Bank and other lenders had borrowed €51bn (£43bn) from the Irish central bank by the end of December, under an obscure progamme listed in the balance sheet as “other assets” … The actions of the Irish central bank are authorised by Frankfurt, but fall into a grey area of monetary policy since they appear to involve creation of money outside the normal control of the ECB’s governing council.

Evidently this regulatory laxness is some kind of effort to prevent the Irish domino from falling and bringing down Spain, Portugal, Italy, etc. in succession.

How mad will the average German be in a couple of years when s/he realizes that the Eurozone is still standing, but their paycheck, pension and savings are worth a fraction of their previous value? Instead of the Germans needing a rapid reaction force to beat down protests in the PIIGS, will the PIIGS need to send riot troops to Germany instead?

Comments on this entry are closed.

Previous post:

Next post: