How will the elections in Greece and France affect Europe? -

How will the elections in Greece and France affect Europe?


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How will the elections in Greece and France affect Europe?

  1. Let’s see now. ALl countries of the world stopped using real money in favour of fiat currencies. (Libya was a notable exception…but we already know what happened to them for suggesting a REAL monetary system!) All of Europe (wth the exception of England) dropped their currencies, fiat or real, in favour of a fiat “union” currency.

    Surprise, surprise…how could anyone have possibly predicted that fiat currencies without any intrinsic value would ever fail in any way, let alone in such a catastrophically huge failure as we are seeing unfold globally today?


    • When countries adopt the gold standard (or other specie-backed currencies), they are pegging their currencies to gold, and thus, to one another’s currencies – this works in effect like a monetary union. The gold standard failed miserably in the face of the depression: when the stock market crashed in 1929, the US Fed allowed interest rates to rise, in order to maintain America’s gold parity – even in the face of cascading bank failures. Other European states were forced to follow suit, lest their gold reserves be depleted as a result. If you look at the timing of the British, German and American recoveries, the abandonment of gold was critical to their recovery.

      The Euro has problems because it is a currency union forged across a region that is not an optimal currency area. There are surplus and deficit countries, each of which experience very different business cycles.

      • Yes. It has everything to do with nothing that actually caused any of the problems.


        With gold, there is no such thing as “inflatgion” as gold maintains it VALUE, unlike fiat currencies, which are “given value by decree”. That which is allowed to hold value “by agreement” is not thus limited, as it can easily be manipulated by those who choose to do so for their own motivations.

        There was a time when all coinage was made of silver or gold. When a BANKER came up with the idea of “paper money”, it eventually came about that there was more paper printed than gold and silver that existed in the banks. This led to the “devaluation” of the currency by the exact amount of the excess printed notes.

        Today, the same process is also in play. The bankers inflate the currency by the use of the fractional reserve system, where every dollar in the bank’s vaults authorizes the bank to create an unlimited (it USED to be a 1:9 ratio) “money” on paper, or electronically. THIS is what is really causing the exponential inflation around the world.

        Surprise, surprise…when the VALUE of the dollar drops, people only see “prices have gone up” and never once stop to think about WHY the prices have gone up.

        What about the advances in productivity which lowers costs? What about manufacturing advances which lowers costs? What about the reduction in the workforce which losers costs? What about better and cheaper materials which lower costs? What about all of that (and much more!) translates into “higher costs” for you, for EVERYTHING?

        Simple, when you know what you’re looking at: If ALL manner of “costs” have been reduced, but the “price” or everything keeps rising, then what you see is the DELIBERATE DEVALUATION of the currency in use.

        It is easily referenced knowledge that the stock market crash in 1929 was caused by the bankers reigning in the money supply. After all, all that paper was THEIR money…wasn’t “The People’s Money” at all.

        Ask youself another question that NOBODY ever considers: How exactly do you pay for anything with “debt notes?” If people actually understood that they were being given DEBT for their goods and services, don’t you think they’d look at things a little differently, and hopefully a tiny bit more critically?

  2. I realize that Maclean’s is biased, obviously in favour of a Liberal government. However, it’s one thing to criticize the Conservatives but it appears to me that those who are responsible for the editorial policy must be in bed with the Liberal leadership.
    I am not a member of any political party but your blatant criticisms stops me from subscribing to your magazine .

    M. Sheskiin

    • You got that from a poll about a vote in Greece and France? You do realize the tinfoil hat isn’t supposed to cover your nose and mouth, right? You need oxygen in the brain after all.

  3. Economic and political chaos is probably pushing it a bit but Greece will most probably revert back to being a third world type vacation destination.

  4. All of southern Europe is on the dole, they’ve been receiving hand outs for so long they can’t imagine working for a living. Its Argentina all over again.