georgephillip
Diamond Member
Hopefully tens of millions of US savers will follow.Move your money to a credit union.
I already have.
Mike Whitney recently quoted Reuters regarding the EU's "original sin":
"“More than a dozen years ago when the single European currency was born, Reuters polls of economists show they were well aware of many of the flaws that threaten the euro today….
“I was aware of the problem that you have a monetary union without a fiscal union, and I wrote about the issues that low interest rates for the periphery will likely get them into a boom, but what happens when the boom goes bust?”
Here's what Whitney concluded:
"So, why did the policymakers shrug off their warnings and charge ahead anyway?
"Well, because that’s what the corporatists and big finance wanted; a single market with low transaction costs.
"Lower costs mean bigger profits, and that’s the name of the game.
"Unfortunately, bigger profits are no guarantee of system viability. Currently, the eurozone is in meltdown-phase, because the existing system doesn’t work and there’s no way to fix it without greater political integration. So far, there’s no movement on that front at all."
Do you think he's right?
If the EU dissolves, is there any way of predicting what happens on Wall Street?
Past the Point of No Return » Counterpunch: Tells the Facts, Names the Names