Moderator: Nicole Marie
“All meat has gone to Russia.”
“If only these people had known in advance what happens when a deranged Keynesian madman is in charge of it all… Oh well, they will learn now.”
Belarus will allow the ruble to float from mid-September and will remove restrictions on depositors seeking to exchange local currency for dollars and euros, Lukashenko said yesterday.
“The Belarusian ruble’s exchange rate will be determined by supply and demand, as with any other commodity,” he told the government and central bank, according to the Belta news service. “We will not support the exchange rate artificially.”
What happens then is simple: revolution, as the currency will collapse into a hyperinflationary vortex. We fully expect the exchange rate a year from today to be several million percent higher, as the ghost of Weimar and all other failed Keynesian experiments moves in to haunt this former Soviet satellite country.
as the ghost of Weimar and all other failed Keynesian experiments
Germany's high court on Wednesday upheld the country's participation in emergency measures to fight the eurozone debt turmoil, but ruled that lawmakers had to vet future plans to commit taxpayer money, potentially slowing decision-making in a fast-moving crisis.
“Last week, the mighty Federal Reserve moved to help European banks that have been having trouble finding people who are willing to lend them money. . . . A crucial mechanism linking financial players in the United States to the problems in Europe involves credit default swaps, those insurance-like products that did so much damage during the 2008 financial crisis.”
jamiebk wrote:Perhaps this will explain the EU bailout better than I could: http://www.cnn.com/video/#/video/world/ ... &hpt=hp_c2
(I am still working on getting the Barmaid's name and phone number)
(PS...sorry, but you'll have to sit through a 30 second ad)
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