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View Poll Results: How long does the euro have left?
Monday 4 3.85%
Before/near Xmas 12 11.54%
Mid-February 34 32.69%
It'll stay intact due to an overnight hallmark 54 51.92%
Voters: 104. You may not vote on this poll

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  #101  
Old 18.05.2012, 10:40
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Re: How long does the Euro have left?

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Basically the article says this practice of withdrawing funds from banks in certain euro countries has been going on for years; it is not a new
phenomenon.
No it doesn't!
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  #102  
Old 18.05.2012, 11:06
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Re: How long does the Euro have left?

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Welcome to the forum. Any credible source on your "small indication"? Actual amounts transferred, source / depositary banks?
Here's a link to a credible greek financial newspaper:

http://www.kerdos.gr/default.aspx?id=1729322&nt=103

The article claims that 700 million Euros were withdrawn in only 1 (!!!) day from the greek banks. Unfortunately the article is in greek, but... google translate is your friend
The news were confirmed by another major greek financial newspaper www.naftemporiki.gr

Unfortunately there is no information about the banks that received this money, but the Reuters article gives some hints!
I also remember seeing the news in English websites, so if I manage to find them again, I will post them here!
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  #103  
Old 18.05.2012, 11:11
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Re: How long does the Euro have left?

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No it doesn't!
I wrote "Basically the article says this practice of withdrawing funds from banks in certain euro countries has been going on for years; it is not a new phenomenon."

I quote from the article;
"many Greeks shifted their money to safer havens in Britain, Switzerland, Germany and Nordic countries long ago."

"That flight started at least two years ago, as the debt crisis grew more serious"

"Greece's banks have lost 72 billion euros in deposits since the start of 2010, or about 30 percent, according to data compiled by Thomson Reuters"

"deposit flight has been going on for two years. What we are seeing in the euro zone is a slow-motion bank run," said Michael Riddell, fund manager at M&G International Sovereign Bond Fund."

"Deposits shifted around Europe dramatically last year, analysis of data from more than 120 listed European banks show."
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  #104  
Old 18.05.2012, 11:20
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Re: How long does the Euro have left?

I would say that the discussion has shifted from Greece to Spain, Portugal & Italy.

Greece is gone.

The question is: is the bank-run in Spain going to propagate?
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  #105  
Old 18.05.2012, 11:25
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Re: How long does the Euro have left?

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I wrote "Basically the article says this practice of withdrawing funds from banks in certain euro countries has been going on for years; it is not a new phenomenon."
What the article basically says could be summarised in the title the author(s) chose for it. "Greeks not alone in bank savings exodus"
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  #106  
Old 20.05.2012, 12:02
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Re: How long does the Euro have left?

bla bla bla

Declaration From Group of Eight Leaders
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  #107  
Old 29.05.2012, 11:58
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Re: How long does the Euro have left?

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How long does the euro have left?
To me it looks like it's at the edge of the cliff right now and getting more and more wobbly every moment.
Will it go today, tomorrow or a bit later?
Who knows!!


....and now the rumour mill is saying the powers that be are issuing instructions to the Swiss govnmt. and SNB to install exchange controls.
Funnily many Swiss believe that destroying their own currency is to their advantage. -squared
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  #108  
Old 29.05.2012, 13:57
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Re: How long does the Euro have left?

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To me it looks like it's at the edge of the cliff right now and getting more and more wobbly every moment.
Will it go today, tomorrow or a bit later?
Who knows!!
It's all about the crazy train..I mean, LaGarde's comments about feeling more pity for starving kids in Africa amidst all the turmoil (and the upcoming election in Greece) just makes you think, WTF Europe and IMF? It's as though they're begging Greece to leave and force an untidy exit from the Euro. As for wobbly, it sure feels like all the wheels have come off and it's skidding, sparks flying, towards the cliff. How it has held on this long is surely a wonder of politics and PR.

It seems like all the EU countries are busy doing is pointing fingers and feeling sorry for African kids instead of the tax evading greeks all while Spain is about to melt down....where is the leader who can smack these folks around and get them focused on the reality that something needs to be done now and more than a band-aid or finding a convenient scapegoat?
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  #109  
Old 29.05.2012, 14:12
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Re: How long does the Euro have left?

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It's all about the crazy train..I mean, LaGarde's comments about feeling more pity for starving kids in Africa amidst all the turmoil (and the upcoming election in Greece) just makes you think, WTF Europe and IMF?
I found her comments really bizarre. What kind of analysis is that?
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  #110  
Old 29.05.2012, 16:16
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Re: How long does the Euro have left?

"It's too bad she (Euro) won't live, but then again who does?"




The answer, of course, is gold. The money of choice for the past few thousands of years.

DavidSJC
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  #111  
Old 29.05.2012, 19:14
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"It's too bad she (Euro) won't live, but then again who does?"




The answer, of course, is gold. The money of choice for the past few thousands of years.

DavidSJC
Why has gold lost 20% of its value since. It's high last year
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  #112  
Old 29.05.2012, 19:26
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Re: How long does the Euro have left?

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"It's too bad she (Euro) won't live, but then again who does?"




The answer, of course, is gold. The money of choice for the past few thousands of years.

DavidSJC
The problem is that it hasn't been used for that purpose in the last 100 years (at least not by major countries).
So, now gold prices are subject to speculation.
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  #113  
Old 29.05.2012, 19:32
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Re: How long does the Euro have left?

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Why has gold lost 20% of its value since. It's high last year
US election coming up soon, price manipulation to mask the hopeless situation that fiat currencies are rapidly approaching and an attempt to shake some weak hands out of their gold stashes.

PS Just looked and estimated it: In Swiss Francs gold has dropped only about 8.5% since its high last year.
Were you calculating in the Azerbaijani currency?

Last edited by spalebärg; 29.05.2012 at 19:54.
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  #114  
Old 29.05.2012, 19:32
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The problem is that it hasn't been used for that purpose in the last 100 years (at least not by major countries).
So, now gold prices are subject to speculation.
So are you saying normal currencies are not subject to speculation?
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  #115  
Old 29.05.2012, 19:57
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Re: How long does the Euro have left?

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Why has gold lost 20% of its value since. It's high last year
Because a heap of traders who dont know much about anything piled into it and bought regardless of price in a short time frame. Thats similar to the same bunch of know nothings who bought into facebook and are now selling regardless of price. What happens longer term is whats important.

NB: In CHF, the gold price is only down approx 8% to its highs.
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  #116  
Old 29.05.2012, 19:59
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Re: How long does the Euro have left?

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NB: In CHF, the gold price is only down approx 8% to its highs.
So that tells me the CHF is overvalued as is gold.
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  #117  
Old 29.05.2012, 21:37
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Re: How long does the Euro have left?

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So that tells me the CHF is overvalued as is gold.
Since its highest point against the euro the Sfr. has dropped almost 17%.
At the same time the currency against which it is pegged, the euro is possibly now approaching its demise with member states near to sovereign default.

...yet you say the Swiss franc is overvalued.
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  #118  
Old 02.06.2012, 01:16
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Re: How long does the Euro have left?

1 June 2012 Last updated at 16:18 GMT






Ireland votes in favour of EU fiscal pact



SO. What now Sun readers?
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  #119  
Old 02.06.2012, 01:20
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Re: How long does the Euro have left?

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Since its highest point against the euro the Sfr. has dropped almost 17%.
At the same time the currency against which it is pegged, the euro is possibly now approaching its demise with member states near to sovereign default.

...yet you say the Swiss franc is overvalued.
Both the Euro & CHF are overvalued...........
Both will fall, it's only a matter of when

You have to remember it's only a couple of years ago that the USD was supposed to loose it's status as a resreve currency to be replaced by the Euro.
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  #120  
Old 02.06.2012, 02:42
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Re: How long does the Euro have left?

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US election coming up soon, price manipulation to mask the hopeless situation that fiat currencies are rapidly approaching and an attempt to shake some weak hands out of their gold stashes.
Haha. So funny.

So if gold is the opposite of a fiat currency.... What will you do with your 1 kg bar? Chop it into pieces when you go to the grocery store? Fact is if the system melts your gold wont help much. Unless you have secret goldsmith powers.

But it's HILARIOUS to see this type comments about " weak hands" and " us election". You know, if you actually have no idea it's ok to be straightforward about it.

You know it's a bubble when you see second-rate US actors pimping gold to Mom and Pop on Tv.
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