Josh Sigurdson talks with author and economic analyst John Sneisen about the 20th birthday of the Euro.
On January 1st, 1999 the Euro was implemented and enforced. The currency has since shown itself to be like any other fiat currency. Worthless.
In the past 20 years, the Euro has lost a vast amount of its purchasing power and while many countries use the terrible note, its relevance is dwindling.
As Britain voted to leave the EU with the historic Brexit vote, there will be another vote coming up in March. Isn’t it interesting that if the establishment doesn’t get what they want, they’ll just do it over and over again until they benefit.
If the Euro falls, most believe that the country will fall too. They forget the power of free market competing currencies and how they’ve prevailed over time. No debt servitude. No enforcement of legal tender laws.
On top of that, we constantly hear about the dollar or krone or peso or euro doing better than another currency. No, they’re all rapidly devaluing. Some are just devaluing faster than others. It’s a race to the bottom as we’ve seen with all fiat currencies throughout history going back nearly 1,000 years to 1024 AD in China. When will people learn?
As stock markets crumble around the world and the everything bubble pops… As the Dax in Germany sees its worst annual decline in 10 years and Deutsche Bank gets ready to crash completely… As currencies devalue into nothing throughout the world, we must decentralize everything. We must rule ourselves. We must be independent, self sustainable and most importantly, responsible. Freedom and responsibility are hand in hand. You cannot have one without the other. There are solutions, but it takes you as an individual breaking outside of that system before it is completely desecrated and you end up on the street.