Well...
I am no expert at currency trading (although I had a bout with it... but that is another story...)
I am of the opinion similar to Jim Rogers.
A currency that has been forced on a geographical area in an attempt to compete with the US will NOT succeed.
Why ?
Because the political and economic differences of the countries that participate are huge that I do not even begin to comprehend what quality of Marihuana the European bureaucrats were smoking when they decided to create it.
From the efficiency of the Germans to the Inefficiencies of the Italians.... to the stubbornness of the French, and the resistance to join of the English (not to mention the Danes, who in effect have told the rest to.. go fly a kite)
It will ever function. Imagine, if the European Block was viable, imagine what would happen in the current scenario of the "Indecision 2000 Mayhem” the value of the dollar would have been crushed... and yet, it has not.
If the US economy weakens, (as it appears that it has), the Europeans may follow soon. and Asia and the rest...
Interest rates in the US stopped increasing in May, in Europe... they continued with the hikes... One would assume that the Euro would be far more attractive than the US dollar, yet... the reverse has taken place....
There is homogeneity in the US population that simply does not exist in Europe...
Imagine the English (in their own free will), eating escargots (I am talking about the "man on the street"). It will never happen....
On top of that, you have al these European governments that are so filled with socialists agendas... how do they expect that free markets will work... ??
Then there is racial issues.. say in Germany...
It is futile to resists... -g- "Disintegration WILL take place"... in time....
This is (in my eyes), another positive for the US, simply by default, there is no other economy as strong... I doubt that the US dollar would soften -vs- the Euro or any other currency.... Look at the deficit being reduced and/or eliminated.... This will make the US currency even stronger.... That is why I say... clear the "Indecision 2000 Mayhem" and rock and roll again ! (I think).
btw....
Do you know where is Jim Rogers ??
millenniumadventure.com
he has some interesting written thoughts on that website |
