GoFuckYourself.com - Adult Webmaster Forum - View Single Post - EUR will drop down against USD in next 12 months

SimonScans · 11-07-2011, 05:34 AM

Interesting morning happening in Europe today. Greece remains exactly as fucked as ever, except now Italy is heading into bailout territory as well with bonds hitting 6.6%. Translated = We used all the water in Greece and only managed to stop the fire getting worse, but couldn't put it out. Now Italy is on fire and we have none left.

One thing everyone agrees on is that Italy is TOO BIG TO SAVE.

Also interesting, last week the G20 wanted more collateral added to the European Financial Stability Facility by Germany - but not in paper euros - which the Germans are reasonably happy to hand over in vast quantities, but as GOLD. The firm answer from Germany; NO. Turns out, when the chips are down gold trumps all and no one with any sense will risk it. Gold isn't the bubble, Euros and possibly also USD are.

11-07-2011, 05:34 AM
SimonScans Confirmed User Industry Role: Join Date: Jun 2006 Posts: 342	Interesting morning happening in Europe today. Greece remains exactly as fucked as ever, except now Italy is heading into bailout territory as well with bonds hitting 6.6%. Translated = We used all the water in Greece and only managed to stop the fire getting worse, but couldn't put it out. Now Italy is on fire and we have none left. One thing everyone agrees on is that Italy is TOO BIG TO SAVE. Also interesting, last week the G20 wanted more collateral added to the European Financial Stability Facility by Germany - but not in paper euros - which the Germans are reasonably happy to hand over in vast quantities, but as GOLD. The firm answer from Germany; NO. Turns out, when the chips are down gold trumps all and no one with any sense will risk it. Gold isn't the bubble, Euros and possibly also USD are.