Is on its way back? I’ve long thought that it was just a matter of time.
7 thoughts on “The Deutsche Mark”
Good. The world needs at least one hard currency backed by a major industrial power. The Swiss Franc and Singaporean Dollar are not enough.
I’m leery of this article. It seems a compilation of rumors and hearsay with some exaggeration. For example,
One who is talking about this is Dr. Pippa Malmgren, a former economic advisor to George W. Bush and a Director for Deutsche Bank (DB). According to Malmgren, Germany has already ordered the printing of Deutsche Marks in anticipation of a possible withdrawal from the EU.
“My view is that it is Germany that will have to pull out of the euro,” Malmgren said at an investors’ conference in London recently, according to the Citywire news website.
“The decision has already been made by the government that leaving the euro is a possibility. I think they have already got the printing machines going and are bringing out the old deutsche marks they have left over from when the euro was introduced.”
He thinks that they’re doing this. So we have this opinion morph into fact on the Seeking Alpha website. And there’s absolutely no references anywhere on that page to any of the claims made. I wouldn’t trust it a bit, especially his lame advise to “ignore” stock markets because they are the last to “get it” (if that were true, then they’d be the first place to look for profitable opportunities!).
It’s a plausible scenario though. The rest of the EU might be able offer an acceptable deal to Germany. We’ll see what happens.
Here is a link to a fairly good analysis of what is happening with Germany:
She at least provides references and allows you to do a more in depth research.
I’ve met Pippa at a conference. She’s smart, and willing to think unconventionally.
What is being talked about is Germany leaving European Monetary Union — the single currency, not the EU itself. It would certainly be the least worst solution at this time, but the German political class is so emotionally invested in the Euro project that I think they’ll have to be hit over the head by events a few more times before they will consider it.
A supermajority in the German parliament is in favour of the euro and I suspect a supermajority of the population is too. However, while a supermajority in parliament is in favour of the bail outs, a supermajority of the population may be against it. That could be a source of major instability. Not that the population really understands what’s going on of course.
And now we have a “vague” deal. Doesn’t look like they’ll be leaving the Euro yet.
I’m so glad the #OWS is staying relevant by demanding that the US follow the financial course of Europe, which is puking insolvency left and right after binge-drinking OPP for the last 50 years.
Good. The world needs at least one hard currency backed by a major industrial power. The Swiss Franc and Singaporean Dollar are not enough.
I’m leery of this article. It seems a compilation of rumors and hearsay with some exaggeration. For example,
But what did Dr. Malmgren actually say?
He thinks that they’re doing this. So we have this opinion morph into fact on the Seeking Alpha website. And there’s absolutely no references anywhere on that page to any of the claims made. I wouldn’t trust it a bit, especially his lame advise to “ignore” stock markets because they are the last to “get it” (if that were true, then they’d be the first place to look for profitable opportunities!).
It’s a plausible scenario though. The rest of the EU might be able offer an acceptable deal to Germany. We’ll see what happens.
Here is a link to a fairly good analysis of what is happening with Germany:
http://www.pippamalmgren.com/77.html
She at least provides references and allows you to do a more in depth research.
I’ve met Pippa at a conference. She’s smart, and willing to think unconventionally.
What is being talked about is Germany leaving European Monetary Union — the single currency, not the EU itself. It would certainly be the least worst solution at this time, but the German political class is so emotionally invested in the Euro project that I think they’ll have to be hit over the head by events a few more times before they will consider it.
A supermajority in the German parliament is in favour of the euro and I suspect a supermajority of the population is too. However, while a supermajority in parliament is in favour of the bail outs, a supermajority of the population may be against it. That could be a source of major instability. Not that the population really understands what’s going on of course.
And now we have a “vague” deal. Doesn’t look like they’ll be leaving the Euro yet.
I’m so glad the #OWS is staying relevant by demanding that the US follow the financial course of Europe, which is puking insolvency left and right after binge-drinking OPP for the last 50 years.