3 ms·

Well when you cherry pick some facts and present them without context ... Isn't that textbook definition of propaganda? > euro QE A lot of shaky implications

by _Tev 8y ago

Well when you cherry pick some facts and present them without context ... Isn't that textbook definition of propaganda? > euro QE A lot of shaky implications without much grounding in economic theory or reality. Please study: https://en.m.wikipedia.org/wiki/Liquidity_trap https://en.m.wikipedia.org/wiki/Liquidity_trap http://eur.exchangeconversions.com/usd/charts http://eur.exchangeconversions.com/usd/charts (10y chart) There was drop in 2014-2015, but ever since Euro has not moved down, rather in opposite direction... So both facts and theory contradicts your continuously-deprecated-currency theory. > refugees Now quote the numbers for following years please. https://en.m.wikipedia.org/wiki/European_migrant_crisis https://en.m.wikipedia.org/wiki/European_migrant_crisis No wonder all refugee scaremongers quote numbers only up to 2015. But hey, it is worrying! . . . that people on HN spread such lame propaganda.

repolfx 8y ago
Now quote the numbers for following years please. I did. Go back and try again. You are so eager to defend the EU you can't even be bothered reading what I wrote and immediately dived for the insults: scaremonger, propaganda, lame. Now for your misunderstanding of basic supply and demand. Look. Let's say there's a million euros in circulation, total. People are using these million euros to buy and sell things. Suddenly the ECB awards itself 9 million euros and starts spending them. Eventually the currency equalises out and those 10 million euro total are spread over the entire economy. But the total amount of stuff being bought and sold hasn't changed, so the prices must have done - they will have gone up by 10x. Likewise, an external currency will now buy 10x more euros than before. If you understand that you will understand what I was talking about. Your confusion about the USD/EUR rate is fairly basic I'm afraid. USD was also engaged in huge money printing during the same period. Despite that the ECB still managed to depreciate the currency. The reason the value started dropping at the start of 2015 is that this is when Mario Monti began huge monthly printing runs: https://en.wikipedia.org/wiki/Quantitative_easing#Europe https://en.wikipedia.org/wiki/Quantitative_easing#Europe on 22 January 2015 Mario Draghi, President of the European Central Bank, announced an 'expanded asset purchase programme': where €60 billion per month of euro-area bonds from central governments, agencies and European institutions would be bought

by _Tev 8y ago

repolfx 8y ago

Now quote the numbers for following years please. I did. Go back and try again. You are so eager to defend the EU you can't even be bothered reading what I wrote and immediately dived for the insults: scaremonger, propaganda, lame. Now for your misunderstanding of basic supply and demand. Look. Let's say there's a million euros in circulation, total. People are using these million euros to buy and sell things. Suddenly the ECB awards itself 9 million euros and starts spending them. Eventually the currency equalises out and those 10 million euro total are spread over the entire economy. But the total amount of stuff being bought and sold hasn't changed, so the prices must have done - they will have gone up by 10x. Likewise, an external currency will now buy 10x more euros than before. If you understand that you will understand what I was talking about. Your confusion about the USD/EUR rate is fairly basic I'm afraid. USD was also engaged in huge money printing during the same period. Despite that the ECB still managed to depreciate the currency. The reason the value started dropping at the start of 2015 is that this is when Mario Monti began huge monthly printing runs: https://en.wikipedia.org/wiki/Quantitative_easing#Europe https://en.wikipedia.org/wiki/Quantitative_easing#Europe on 22 January 2015 Mario Draghi, President of the European Central Bank, announced an 'expanded asset purchase programme': where €60 billion per month of euro-area bonds from central governments, agencies and European institutions would be bought