Europe to U.S

Natural Elements · 10-13-2008, 04:36 PM

First you mess up the world's financial system. Then you blow the rescue of it. Now let's show you how to do it properly.

http://money.cnn.com/2008/10/13/news...ion=2008101313

What do you think?

Mia · 10-14-2008, 08:54 AM

So what you are saying is we should start over and create an artificial currency and really goof things up?

Natural Elements · 10-14-2008, 03:55 PM

I did not say anything, I just past the title and asked what people think about this article.

My personal opinion may be different:
Europeens watched the US economy failling witout doing anything, when they saw many banks or else affected in Europe they took actions quickly.

I am just wondering why the US did not take actions earlier to fix the problem of subprimes.

Mia · 10-14-2008, 04:02 PM

I know... It was just a general answer to the article's own contention. If we could start over again with monopoly money like most of Europe, I suppose we'd be in a far better position to bitch too.

Ferre · 10-14-2008, 05:24 PM

Quote:

Originally Posted by Mia

If we could start over again with monopoly money like most of Europe, I suppose we'd be in a far better position to bitch too.

Pardon me? "Monopoly money"?

I guess you didn't know that Europe had a couple of very valueable currencies before the Euro was introduced, the German Mark and Dutch Guilders being only two of them and those currencies have been replaced by the Euro, as in: exchanged.

You make it sound like the euro is only worth the paper it's printed on but unlike the dollar, which is in fact nothing more than a debt certificate, the Euro is real money backed by a solid system which supported the old valueable currencies before.

The dollar is not even worth the paper it's printed on and that too is one of the reasons you have this fanancial crisis right now, we here in Europe and the people in China and the rest of Azia are bailing the USA out, if we didn't the American public would be in a much larger mess than they are in now.

For someone who owns China and Europe you sure display a rather unjustified arrogance but hey, no biggie, we are used to being treated with that sort of arrogance since decades.

Btw, I've seen nothing about it in the english press, but here in Europe the central bank is going to ban hedgefunds and even make them illegal.

Natural Elements · 10-15-2008, 09:01 AM

Ferre you forgot the Franc Suisse which was a powerful currency. Switzerland was a tax havean for Europeens remember?

Mia · 10-15-2008, 09:16 AM

Quote:

Originally Posted by Ferre

[color=DarkGreen]Pardon me? "Monopoly money"?

Yes.

Ferre · 10-15-2008, 12:22 PM

Quote:

Originally Posted by Natural Elements

Ferre you forgot the Franc Suisse which was a powerful currency. Switzerland was a tax havean for Europeens remember?

Yes, but Switserland is not a member of the EU and still have their Swiss franks, not euros.

Mia, with all respect, when you want to believe that the Euro is "monopoly money", be my guest, believe whatever you like while half the world is dropping the dollar as a creditable currency.

Natural Elements · 10-15-2008, 12:25 PM

You are right Ferre, I forgot ;-)

**G10** · 10-15-2008, 12:33 PM

The euro and also the UK £ and our way of doing things and our government bailing out banks is something that the American government is looking into as they are interested in our way of doing it as theirs is/has failed them currently.

You see, the UK government has come up with a system to bail out the banks and look after the publics money in the process, they do this with tax payers money... Sounds unfair right.....

Here's the clever part:

The government then has major shares in the banks that they bail out and also a hand in how they are run and use their own analysts/accountants to help get the banks fully back to their feet and then.... They sell back the portion they have purchased back to the bank at a slight profit and use the money that they have made within the system, ie, our NHS services etc.

The taxpayer has no loss whatsoever... Ok, it could in theory fail if the bank carries on plummeting but with government assurance and backing, the chances are as slim as you like... Practically none-existant.

Our currencies have been knocked by the damage that has happened to the $ but at least we quickly thought of bail-out plans and put them into place in double-quick time to rescue ours.

It is the $ that is monopoly money and will carry on being so until they start strengthening it again and the government/banks start gaining the peoples trust.

And btw, though I hate to admit this, but Ferre is right <-- Bloody hell, that was tough to say ;-)

Natural Elements · 10-15-2008, 12:51 PM

English people have always one step beyond the other countries ;-)

**G10** · 10-15-2008, 12:59 PM

But of course.....

We're British don't you know old chap.

We are the only people I know that could stab someone in such a polite manner that the the victim would almost feel honoured that we spent the time with them and his last words would be 'thank you' as he fell to the floor and died

Natural Elements · 10-15-2008, 03:45 PM

Quote:

Originally Posted by G10

But of course.....

We're British don't you know old chap.

We are the only people I know that could stab someone in such a polite manner that the the victim would almost feel honoured that we spent the time with them and his last words would be 'thank you' as he fell to the floor and died

Tss tss G10 do you remember your history with William the Conqueror?

I never hear anything about an English King of France ;-)

**G10** · 10-15-2008, 04:21 PM

Not too sure where you are going with this one, though France did have a German ruler for a while, he was called Hitler, well that was until we all had to bail them out..

Mia · 10-15-2008, 04:42 PM

Quote:

Originally Posted by Natural Elements

English people have always one step beyond the other countries ;-)

How British Are you? I got a 45%

http://www.blogthings.com/howbritishareyouquiz

Ferre · 10-15-2008, 08:06 PM

Here's a good explanation on what's going on...
http://www.youtube.com/watch?v=jB9fuIvksLw

Natural Elements · 10-15-2008, 08:51 PM

Quote:

Originally Posted by G10

Not too sure where you are going with this one, though France did have a German ruler for a while, he was called Hitler, well that was until we all had to bail them out..

I wanted to tease you, but this one is very bad :-(

I guess if the English never had the American aid and the international help from all nationality pilotes, the battle of Britain won't be so succesful and Himmler perhaps have invaded England.

Anyway just to put back this comment friendly ;-)