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I'm not a big fan of discussing politics on HN, but as an avid financial reader (in other specialised forums) I'll drop this quote here. "It is well enough tha
by joeyspn 11y ago
I'm not a big fan of discussing politics on HN, but as an avid financial reader (in other specialised forums) I'll drop this quote here.
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Henry Ford
Henry was spot on. 99,9% of westerners just don't get the monetary system, and asymmetric monetary unions are starting to extract all the assets from the weakest members/states. A recipe for disaster.
Also, decoupling the € from the $, or even the ¥ is naive. They're one, and part of the very same formula. Neither of these currencies will break-up w/o dragging the others down the abyss. This is the card that former greek FinMin Varoufakis tried to play.
- adaml_623 11y agoI was coming here to comment that I hate the way that a country 'manages' it's finances. Or makes mistakes. Or joins the Euro. And what I mean by that is that a very small powerful minority entrenched at the top of a countries hierarchy or banking system do things for their own benefit that positively or negatively affect millions of others. And then the media reports on these actions as if it was a _country_ doing something. And the main reason I hate it is because if you don't understand what happened in the past then you are not able to prevent bad things from happening again or happening elsewhere.