You nailed it, Richard! The Canadian context; the risk of not having power availability; the nonsense around having laws on paper that 'may' not be enforced; the feigned non-ideology and double-speak of the federal representatives -- but most of all, the notion of the non-viability of the EU. I have previously commented on the non-viability of the Euro, as it has printed paper to keep political agendas afloat, and drifted into terms of 'negative interest rates' -- which is a financially illiterate notion. It will lead to the end of the currency as money becomes worthless -- and the EU as a polity will follow.
Thanks Greg. I was musing on the fate of the Euro a couple of months ago (https://pandreco.substack.com/p/another-bric) - in the context of the expansion of the BRICs - some commentators dismissed the additions as a rag-tag bunch of small players - what this missed was that several had large oil reserves/production - so in the quest for an alternative to the USD - a BRIC currency backed by significan portion of the world's oil would have some merit (maybe) It is interesting to note that Brazil just announced its intention to join OPEC - which lends weight to my hypothesis. In that post I contrasted the BRIC expansion to the Euro which seems to be on a one-way street to insiginificance... I hope we are wrong, I love Europe - but it seems to be racing towards a cliff edge.
I agree -- and I remember your post (I appreciate your perspective!). Another event of serendipity in this direction is the invitation of Brazil to join OPEC. BRICS / OPEC integration = a currency that will be used to trade with the developing world.
You nailed it, Richard! The Canadian context; the risk of not having power availability; the nonsense around having laws on paper that 'may' not be enforced; the feigned non-ideology and double-speak of the federal representatives -- but most of all, the notion of the non-viability of the EU. I have previously commented on the non-viability of the Euro, as it has printed paper to keep political agendas afloat, and drifted into terms of 'negative interest rates' -- which is a financially illiterate notion. It will lead to the end of the currency as money becomes worthless -- and the EU as a polity will follow.
Thanks Greg. I was musing on the fate of the Euro a couple of months ago (https://pandreco.substack.com/p/another-bric) - in the context of the expansion of the BRICs - some commentators dismissed the additions as a rag-tag bunch of small players - what this missed was that several had large oil reserves/production - so in the quest for an alternative to the USD - a BRIC currency backed by significan portion of the world's oil would have some merit (maybe) It is interesting to note that Brazil just announced its intention to join OPEC - which lends weight to my hypothesis. In that post I contrasted the BRIC expansion to the Euro which seems to be on a one-way street to insiginificance... I hope we are wrong, I love Europe - but it seems to be racing towards a cliff edge.
I agree -- and I remember your post (I appreciate your perspective!). Another event of serendipity in this direction is the invitation of Brazil to join OPEC. BRICS / OPEC integration = a currency that will be used to trade with the developing world.