{"id":39729,"date":"2018-10-26T07:31:58","date_gmt":"2018-10-26T12:31:58","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39729"},"modified":"2018-10-26T07:31:58","modified_gmt":"2018-10-26T12:31:58","slug":"eurozone-will-collapse-there-is-no-other-choice-economically","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39729","title":{"rendered":"Eurozone will Collapse \u2013 There is No Other Choice Economically"},"content":{"rendered":"
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Eurozone will Collapse \u2013 There is No Other Choice Economically<\/a>\"\"<\/a><\/h3>\n<\/div>\n
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QUESTION:<\/strong> Mr. Armstrong; I can see what you have been arguing about the faulty design of the euro. After the EU rejected Italy\u2019s budget, is there any hope left for Italy?<\/p>\n

RS, Rome<\/p>\n

ANSWER:<\/strong> For those who do not follow Europe closely, the European Union took the unprecedented step Tuesday (23rd of Oct) of rejecting Italy\u2019s draft budget as incompatible with the bloc\u2019s rules on fiscal discipline.\u00a0This has simply validated the position many take in Italy that they are an occupied country. The Commission Vice-President Valdis Dombrovskis publicly stated that the Italian government was \u201copenly and consciously going against commitments made\u201d to drive down the country\u2019s debt and deficit levels. The decision is escalating a battle between Europe\u2019s establishment and Italians and the sooner you exit the Euro, the better Italy will survive.<\/p>\n

From the outset, in designing the Euro they deliberately lied about just about everything. They told everyone that they would be paying the same interest rates because of the single currency. I explained that was absolutely false. They appear to have deliberately used the example of the dollar to pitch the euro but never mentioned that the single interest rate was the Federal level they were referencing. All 50 states issued their\u00a0debt in the single currency\u00a0of the dollar but they all paid rates according to their own credit rating.<\/div>\n
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I warned them that they MUST<\/strong> consolidate all the debts making that a national debt that they would have a single interest rate and that would compete with the dollar. Thereafter, each state would then issue its own debt as deeded and the free markets would price that accordingly. Under the system\u00a0that I instructed them to adopt, this budget crisis would not exist.<\/div>\n
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\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Eurozone will Collapse \u2013 There is No Other Choice Economically QUESTION: Mr. Armstrong; I can see what you have been arguing about the faulty design of the euro. After the EU rejected Italy\u2019s budget, is there any hope left for Italy? RS, Rome ANSWER: For those who do not follow Europe closely, the European Union […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[5496,150,195,279,280,284,285,5479],"class_list":["post-39729","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-armstrong-economics","tag-collapse","tag-debt","tag-eu","tag-euro","tag-european-union","tag-eurozone","tag-martin-armstrong"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39729"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39729\/revisions"}],"predecessor-version":[{"id":39730,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39729\/revisions\/39730"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}