Monday, November 28, 2011

The Euro moral panic

Euro © fintag

News comments:
It wasn't that long ago when there was no Euro and the world was fine.

Those who are screaming the world will end and we shall all starve and die at the hands of anarchists are very irresponsible.

Those who run Europe are from Belgium, Poland, Italy and France. They come from weak countries who are riding on the tails of a strong Germany. It is in their interests to spread gloom and doom.

Of course Germany cannot prop all these weaklings and despite its guilt from the past and its integration is best motives, Germany is going to go its own way. Saving East Germany was a huge task and it is unlikely it will do the same for the Euro.

Like most of you, I am sick and tired of all this and just want it to go away. CIC and the IMF aren't going to help the Euro so it must be allowed to collapse. Forget orderly, just squeeze the spot.

How this will be achieved is anyone's guess. The parasitic Euro countries aren't going to leave - they have to be pushed. My guess is Germany will announce a Euro A and a Euro B (as previously predicted). Sometime next week. When France is downgraded.

Today's shorts:
Bankers stole USD13bn for their bonus pools from the Fed (bloomberg)

Today's longs:
Germany told to save Poland (FT)

This time next year the Euro will be forgotten.