Sunday 26 March 2017

Let euro fall to parity with dollar

The Governments and people of Ireland, Greece and the other members of the European Union are subject to a giant con trick.

I am reminded of Professor Galbraith's remark: "Sound money means protection of its value for the benefit of those who hold it."

Monetary Union, however, means that these lands cannot have balance of payments deficits any more than Germany can have a separate surplus. All are merely geographical areas within 'Euroland'.

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