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Mark Hitti
Member since May 2012
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has posted a comment on the article :

European Debt Crisis Threatens the Dollar

- Ron Paul -

Sorry, but it is the dollar, which is threatening the euro!

Markets are not reacting rationaly because they are not allowed to.
If investors had the opportunity to have european state balance sheets before their eyes, they would realize that most of the european states can pay their creditors back, even Italy.

So why is this happening?
According to liberal ideology (let me be precise post liberal ideology), markets are always right. So the current situation is normal. However we don´t live in a perfect market with perfect information.
Hoax, rumors and manipulations have become a creed and financial regulators in the US and in Europe are unable to understand what is going on.
From a european perspective, i can see there are a couple of american and british economists and medias attacking the EU whether austerity or keynesian measures undertaken.

Markets have entered a particular psychological paradigm, where the EU needs to be a perfectly integrated zone for a better economic management. But this can´t be logical, as debts will remain debts and only industrial and governmental rules will change the deal.

As for the dollar, i have nothing to add as you perfectly know the reality.

Commented 4680 days ago

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Beginning of the headline :The global economic situation is becomingmore dire every day. Approximately half of all US banks have significant exposure to the debt crisis in Europe. Much more dangerous for the US taxpayeris the dollar's status as reserve currency for the world, and the US Federal Reserve's status as the lender of last resort... Read More

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