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Author Topic: If your in the EURO Zone move your money to BTC , Silver, or Gold (link)  (Read 963 times)
The_JMiner
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July 20, 2011, 04:48:40 AM
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http://www.marketwatch.com/story/printing-money-is-europes-only-way-out-2011-07-20?reflink=MW_GoogleNews

Printing money is Europe’s only way out

WASHINGTON (MarketWatch) — Italy is wobbling. Spain is facing a fresh crisis. Even France doesn’t look like it is a secure member of the euro zone anymore. The storms swirling around Europe’s beleaguered single currency are growing by the day as the crisis moves in from the periphery into what can only be regarded as core Europe. The markets remain poised on a knife edge, fearful of the consequences of a full scale collapse.

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How much money are we talking about? The Royal Bank of Scotland estimates that at least 2 trillion euros may needed to be added to the emergency funds set up by the EU to keep the single currency afloat.

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bitcola
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July 21, 2011, 11:24:24 AM
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Agreed, printing money is all they can do. But it's also all that the United States can do, same for the UK.

I agree, get your money into gold and silver. BTC are not really a safe haven destination though, with the recent price volatility and the ease with which your funds can be stolen. That is why we have not seen a flight to BTC in the last week or anytime there is bad economic news.
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July 23, 2011, 01:59:35 PM
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There are many ways to deal with this. You could use derivatives to mitigate the risk, you could move your money to another currency, you could prepone consumtion, you could buy stock, you could invest in oil, etc.
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July 23, 2011, 02:20:39 PM
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Matthew Lynn is a financial journalist based in London. He is the author of "Bust: Greece, the Euro and the Sovereign Debt Crisis," and he writes adventure thrillers under the name Matt Lynn.

Looks like he sometimes confuses his two careers.

Yeah, well... I'm gonna go build my own blockchain, with blackjack and hookers. In fact, forget the blockchain!
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