November 22, 2024 | European Leaders Determine to Destroy Europe – There Goes The Euro

The skies are darkening over Europe’s economy and politics, all thanks to their determination to wage war against Russia. The euro is plummeting to its lowest level in two years. Will the Euro stop at 85 cents in the year ahead? European leaders know that the Eurozone is crumbling, and instead of reform, they have chosen war and to use that as the excuse for the collapse of the Euro in the years ahead. In Putin’s address to the Russian people, he stated that

“Russian military facilities in the Bryansk and Kursk regions were attacked by Western missiles.” According to him, “the conflict in Ukraine has taken on global elements.”

The European press is either stupid or is cheering war on as aversion to the collapse of Europe from the nonsense of climate change & Wokeness that infected Europe as well. But the number one rule is never to admit a mistake – point the finger at someone else.

Europeans discovered what the Chinese did years ago: They used Bitcoin as an asset class to move money. While the propaganda about Bitcoin that it would replace the dollar as the reserve currency is absurd, it remains an asset class like everything else. You cannot have a fixed quantity of money; it MUST be elastic because the economy has a business cycle. That is why Bretton Woods collapsed. Fixing gold at $35 did constrict the number of dollars created primarily for the NEOCONS and war. In 1960, there was a gold panic because President Kennedy said that the decline in the dollar was due to the maintenance of all the military bases around the world at American expense. The Swiss/Euro peg broke, the Pound/ERM Crisis that made Soros rich, and the 1997 Asian currency crisis when the pegs broke. NOBODY has ever been able to fix the value of any currency. Do not confuse using gold coinage as a gold standard, for its value always rose and fell, as did even the ratio between silver and gold.

Russia used this new ICBM non-nuclear weapon for the first time, and in the future, it would warn civilians to evacuate before a launch. The real curious aspect here is that there has been no reaction yet from the UK, France, or Germany. They apparently did not know what to say as they pushed Ukraine to sacrifice its entire nation and its people for a war that was not winable.

Let us not forget that the Minsk Agreement was supposed to let the Donbas vote on their own separation, as it took place with the break up of Yugoslavia according to ethnic lines. These NEOCONS do not care about our country or the people. To them, this is like a football game, and they have to destroy Russia no matter what the cost. I have spoken directly to some, and they are logical, and I cannot explain their reasoning. It just seems to be delusional if not insane.

Many of our sources throughout the former Yugoslavia states are turning toward Russia than the West. Scandals, corruption, and constant broken promises are part of the shift toward the nationalistic view we see also rising in Germany. Most of the surrounding nations around Ukraine see them as an unethical group of people who are untrustworthy and the most corrupt in the world. they are baffled that the West is supporting Ukraine, and that is also contributing to the shift toward Russia.

Markets also raised their expectations of European Central Bank rate cuts and see a more than 50% chance of a larger-than-usual 50 bp rate cut in December. The euro has weakened against the dollar as Europe and NATO vow to keep the war going after Donald Trump’s victory. Recent escalations in fighting between Russia and Ukraine and political uncertainty in Germany, the Eurozone’s biggest economy, have further weighed on the Euro in recent weeks. Our model still shows that the Eurozone will break apart as all centralized dictatorial forms of government inevitably fall. The same fate will shared by the USA

Martin Armstrong November 22nd, 2024

Posted In: Armstrong Economics

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