“That’s the problem for Europe. Great idea… but not everyone is fully bought into the programme yet. The more I observe and think about it, I suspect the likely outcome for Europe is not a sudden collapse of the Euro, or a spectacular national default brought about by the mechanisms of the Euro and debt… but more likely nations just losing the will to bother anymore.. and that rather than move forward it slowly stagnates. Rather than the EU and Euro exploding in a catastrophic supernova, I suspect its more likely to bore us to death in a welter of regulations, bailout programmes and superstate controls… “
USAGOLD note: Looking to find a good place to park money, Blain offers a detailed look at what is going on in Europe these days touching on all the major players. What he sees is not a lot more promising than what is going on in the United States.
Repost from 1-17-2021