Collapse of EU??

[Potjeh]

Greece basically embezzled Union's money.

As for Euro, it's not exactly self-sustainable, but it can stand if Germany props it up. And Germany has an interest in doing so, as a unified market is awesome for them as Europe's industrial powerhouse. Store shelves all over EU have seen a rise in share of German products thanks to Euro, and it's even spilling over to neighbouring countries.

[dagrimreefah]

Yet the euro is plunging and the EU itself is unraveling. Tisk tisk to shame

I also don't understand why Germany can't have a "unified market" without this centralized state with its own central bank that calls itself the "European Union"? I mean, can't this 'unified market' be achieved without all the rest of the bloat and bureaucracy? The colonies over on this continent did it just fine in the 17th-18th centuries :p

[Potjeh]

The colonies on that continent all used pound sterling :p

I think it's mostly that they can't trust the Mediterranean countries to not ruin their economies, which would be kinda bad for German exports and their investments there.

[dagrimreefah]

The colonies on that continent all used pound sterling :p

Not exactly. Seeing as there was no central gov't at the time and people weren't being told what their money is, people naturally used the most saleable and transportable goods they could use for bartering: gold and silver. Then of course you had your banks and coinpressers trying to make a little extra for themselves

There were the attempts during the revolutionary war to print fiat. The continental is still held as a hallmark for why fiat currency doesn't work. "Not worth a continental" was a popular saying in the day.

[martenx]

mayby a bit off topic http://www.bbc.com/future/story/2013010 ... rows-world

[Mateusz_Zboj]

One thing is for sure, if the war breaks out, there will be New Switzerland Republic...

[Sarchi]

No it isn't. But it is hard for me to agree with that assessment. I tend more to believe that the EU failed because that type of union is unsustainable unless you have a world reserve currency (see the dollar), which the Euro was struggling to become but never even came close.

I assume before too long, and if "Obama's" military campaigns aren't successful, either we will go back to gold as a reserve currency or the renminbi will assume its position as the new world reserve.

OT but significantly related: http://www.youtube.com/watch?v=mII9NZ8MMVM

[Mateusz_Zboj]

Well some people just don't learn from history and/or do not care for the sake of their own interest.
On the other side, to think people in power really believed coins have value themselves.

[painhertz]

You'll be Muslims.

He's right, read this book......

http://en.wikipedia.org/wiki/America_Alone

[dagrimreefah]

On the other side, to think people in power really believed coins have value themselves.

Its not just people in power, it was everyone. And its not the coins themselves that were valuable, it was the shiny, extremely rare, extremely durable non corrosive metal that the coins contained... Because there is and was no believing involved: precious metals ARE valuable and if you didn't know that, then where have you been for the last 25 centuries?