I Cant Believe I Agree With George Soros

George Soros is right! Yes I cant believe I agree with him

, but Europe is in big trouble, and the EU is at stake. It cannot go on or continue in the current state. Fundamentally the European Union is flawed in its political and social structure. Most importantly, it is flawed in its banking structure. To think that the EUs central bank has no real power, and nor does its political institutions, make it ultimately impossible to exist. The problem is not Germany blocking the additional purchase of debt or further monetary assistance, the problem is that Germany even has this option. Who would want someone elses problems?

In the United States, whether you agree with the existence and power of the Federal Reserve, one thing is unquestionable in times like this, and that is its absolute power to affect policy and banking system. Yes, there are people that scream bloody murder when the Fed increases stimulus or eases requirements, but it is these mechanisms that allow our way of government and banking to function. The Fed has a board and that board makes decisions that affect all 50 states and the regional reserve banks. The state of Colorado doesnt stand up and say, We refuse these actions of the Fed and we will not go only with its policy! That is because of our central form of government and our central bank.

Ultimately Europe has to decide, if they will give their powers to a central power, and allow it to dictate policy for ALL the EU nations. They must decide if they want a central bank to call the shots and do what is in the best interest of ALL the EU nations. They either agree to be one, or they agree to be split up, anything in between will not suffice. All the nations knew of each others problems coming into the EU. Germans new Greeks retire sooner, others knew the value at which their currency would convert.

In the end, they must either be united, or not. This is not the United Nations, and it cant be run that way. They must but their faith in one nation under God, indivisible or they must return to their own ways of government. If the EU cannot exist properly, then the world will be better off without it. The dust would settle and things would probably return to normal in the long run. Until then, be prepared for continued stagnant growth, low inflation, and more stimulus.

James M. Di Piazza

Bond Street Mortgage LLC

www.bondstreetloans.com

by: James Di Piazza

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