Euro: 25 years of appreciation \ stacker news ~econ

1195 sats \ 14 comments \ @TomK 4 Mar econ

As we are celebrating the euro's fantastic 25th anniversary this year, here are a few charts on its extraordinary 'success'. If the preservation of purchasing power is one of the fundamental criteria of money, then Europe's divisive currency has indeed failed on all levels. Congratulations, dear green socialists and debt makers, dear Christine Lagarde, on a quarter of a century of continuous purchasing power dilution (inflation theft) of the so-called 'citizens' of the eurozone. Thank goodness for the protective shields against technocratic madness!

view all related items

31 sats \ 1 reply \ @koqoo 4 Mar

eurozone [:] a failed experiment

11 sats \ 0 replies \ @TomK OP 4 Mar

Yep. The last chapter is going to be really crazy

42 sats \ 0 replies \ @Bell_curve 4 Mar

Europe’s common market exemplifies a situation that is unfavorable to a common currency. It is composed of separate nation states, whose residents speak different languages, have different customs, and have far greater loyalty and attachment to their own country than to the common market or to the idea of “Europe.”

https://www.project-syndicate.org/commentary/the-euro--monetary-unity-to-political-disunity

The drive for the euro has been motivated by politics, not economics. The aim has been to link Germany and France so closely as to make a future European war impossible, and to set the stage for a federal United States of Europe. I believe that adoption of the euro would have the opposite effect. It would exacerbate political tensions by converting divergent shocks that could have been readily accommodated by exchange rate changes into divisive political issues. Political unity can pave the way for monetary unity. Monetary unity imposed under unfavorable conditions will prove a barrier to the achievement of political unity.

21 sats \ 1 reply \ @satoshiplanet 4 Mar

Bye bye shitcoins

0 sats \ 0 replies \ @TomK OP 4 Mar

Adios....

21 sats \ 1 reply \ @Fabs 4 Mar

Thanks, instructions clear: buy more bitcoin.

0 sats \ 0 replies \ @TomK OP 4 Mar

Sounds clever

21 sats \ 5 replies \ @0xbitcoiner 4 Mar

I fear the worst is yet to come, and many innocent people will suffer.

16 sats \ 4 replies \ @TomK OP 4 Mar

We are entering this phase, yes

0 sats \ 3 replies \ @Fabs 4 Mar

I'm curious about your predictions: what can we expect in the coming years and the coming new decade?

0 sats \ 2 replies \ @TomK OP 4 Mar

i will publish an excerpt of one of my articles here later on, which deals with the erosion of the purchasing power of southern european countries in the course of the introduction of the euro. in general, i assume that the ECB, together with the european Commission, will try to introduce eurobonds as a new level of financing. we are already seeing the debate about the so-called war bonds in the wake of the hyped-up fear of Russia, which will lead to European taxpayers being held liable. without this backup, you cannot introduce a new level of debt. the debt spiral will accelerate, productivity will continue to fall, the middle class will erode. this process is accelerating and will massively accelerate the adaptation of vehicles such as Bitcoin.