Stuwillis: @Emveem There are many parties that will profit from a recession: financially, politically, morally. E.g Reserve switching to the Euro.
Emveem: @stuwillis True. Reserve switching to Euro is an interesting, 4 year old concept. Not sure I grasp the moral benefits of this though.
Stuwillis: @Emveem Its also great distraction from the real coming cyclone: inevitable cataclysmic climate change.
Emveem: @stuwillis Re climate change distraction agreed, in ST. Argument it could also aid in addressing. Guardian 8/08: http://budurl.com/l7m5
Stuwillis: @Emveem Well, what was the moral benefit of switching from Gold to the USD? Part of the GFC is because the USD is reserve and undeservedly.
Emveem: @stuwillis. See your point. Unfortunate the USD was the only currency convertible to gold after 2 WWs- & easier to transact with.
Stuwillis: @Emveem So yes, there were advantages; as there are advantages to switching to the Euro... like Europe not being bankrupt since 71.
Stuwillis: @Emveem BTW there were conspiracy theories during the Iraq invasion that it was due to Iraq wanting to move its oil transactions to the Euro
Mar 12th