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How can people protect their euros from Quantitative Easing?

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    #32
    Eugene Norman
    Closed Accounts Posts: 5,191 ✭✭✭Eugene Norman


    Brian Shanahan wrote: »
    This is an economy whose anaemic growth numbers is due solely to two reasons, a) the South East is experiencing a government primed housing bubble (no prizes for guessing how that'll end), and b) the City of London is the world's biggest offshore tax haven and has recently been pump primed by a chancellor who is a trust fund baby eager to make it easier for him to pay less taxes on his offshore tax evading money. In fact the general economy is so bad that the total industrial output of the UK hasn't stopped falling since the crash.

    That's the exact definition of a basketcase economy. And it's due to the economic strategy most of the world is following.

    You are probably right but I was thinking short term.


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    #33
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    Brian Shanahan wrote: »
    The IMF think people dying in water riots in countries like Ecuador is also a good thing, and families hunting around bins in countries like Argentina or Greece too. So I wouldn't be trusting what they think.
    Ireland has homelessness problems yet we don't blame outsiders for our own failings, we don't say Irish homelessness is Greece's fault because of their debts or Germany's fault because or their surplus.


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    #34
    Eugene Norman
    Closed Accounts Posts: 5,191 ✭✭✭Eugene Norman


    catbear wrote: »
    Ireland has homelessness problems yet we don't blame outsiders for our own failings, we don't say Irish homelessness is Greece's fault because of their debts or Germany's fault because or their surplus.

    However greeces collapse is in part outside their control. CF Lehmans.


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    #35
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    Eugene Norman wrote: »
    However greeces collapse is in part outside their control. CF Lehmans.
    Are you saying all the countries were forced to run up debts beyond means?
    Nobody in Ireland can blame outsiders for building ghost estates on floodplains.


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    #36
    Eugene Norman
    Closed Accounts Posts: 5,191 ✭✭✭Eugene Norman


    catbear wrote: »
    Are you saying all the countries were forced to run up debts beyond means?
    Nobody in Ireland can blame outsiders for building ghost estates on floodplains.

    Nobody was "forced" to do anything. However if a central bank keeps interest rates low it creates asset bubbles. They are there to stop that. Furthermore if economists tell non-economists that everything is ok then why wouldn't people build and buy ( full disclosure, I didn't because I actually understand economics. Hatip London and Dublin house prices are overvalued).

    The responsibility for high level macro economics lies with economists. Central banks kept prices low, the bankers invented all kinds of absurd derivatives and insurance to roll up sub prime loans into "collateralised" securities that weren't worth the paper they were printed on and the bank and industrial economists attacked the few academic economists who cried wolf.

    This is the 5th time I've had to explain the recent past. Victors make history? Controlling the narrative by controlling the press makes history, more like.


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    #37
    Brian Shanahan
    Closed Accounts Posts: 3,232 ✭✭✭Brian Shanahan


    Eugene Norman wrote: »
    You are probably right but I was thinking short term.

    So am I. In the main analysis, the worlds economies are ****ed within five years unless serious reigning in is done of the malefactors who created the last crash, and the malefactors who continue to evade their duties to pay taxes.

    Unfortunately the needed remedial action won't happen because politicians are owned by those committing the crimes.


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    #38
    View
    Registered Users Posts: 3,872 ✭✭✭View


    Eugene Norman wrote: »
    Nobody was "forced" to do anything. However if a central bank keeps interest rates low it creates asset bubbles. They are there to stop that.

    The ECB is there to keep inflation low. It is up to the member states to ensure their domestic fiscal policies guard against asset bubbles such as our property one. Instead we had tax-policies that encouraged increased investment in property.

    It is absurd to suggest that interest rates should have been raised all over the Eurozone to counter-act our property obsession - indeed, had they done so, we'd have screamed our heads off and been outraged at a move to over-ride our domestic decision making.


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    #39
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    To add to Views comment it was widely acknowledged after the 2002 election that the retention of section 23 property investment was a vote getter. Even though its main aim had been for urban regeneration it now had become popular as a general tax dodge.


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    #40
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭FISMA


    realitykeeper wrote: »
    Now that the Irish and other euro zone governments are going to devalue our euros, by buying their own bonds with magic money, how should people with savings protect the value of their euros?

    Put your money where your mouth is...
    realitykeeper wrote: »
    ...Today, Russia is thriving and the west is in decline...

    Buy rubles!


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    #41
    I swindled the NSA
    Closed Accounts Posts: 150 ✭✭I swindled the NSA


    realitykeeper wrote: »
    is gold a safe investment for the long term?

    Ive never got this fascination some people have with gold.

    Gold prices fluctuate too and one still needs some trustworthy person/organisation to look after their little stash of gold and protect it from predators.
    realitykeeper wrote: »
    a collapse in the FIAT currency

    How many commodity backed currencies are there in the world today and how trustworthy are the relevant governments not to start running the printing presses when the $h1t hits the fan ?


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