Posted Jan 16, 2015 by Martin Armstrong
The whole idea of creating the Euro without consolidating the debts was the BRAIN-DEAD idea of academics with ZERO trading experience and lawyers. We really cannot afford these types of people making financial decisions about how to run the world. Whatever Brussels could have done wrong, they did.
The EU politicians have assumed that they can dictate to the free markets by decree and suppress the right to freedom of choice, vote, and to just live un-harassed. The EU politicians have disregarded the people with the arrogance that they know what is best. The EU politicians are helping to destroy the world economy because they have tied the bank reserves to their own folly and then exempted them from mark-to-market to hide their track record. These politicians can hide their head in the sand to pretend they have not yet failed. However, the free markets ALWAYS win.
Well the free markets have voted. The Euro has crashed to the 1.15 level so far. A monthly closing BELOW 1.18 is a long-term sell signal; and support lies at 1.1375 A monthly closing beneath this level confirms the Euro is dead and should fall back to the 1.03-.96 area.
You just can’t make up this stuff. There should be a law against UNQUALIFIED people taking office. Enough is enough. These people create wars to cover up their mistakes. We have an ABSOLUTE right as a people NOT to be economic slaves to fools.