"But a Constitution of Government once changed from Freedom, can never be restored. Liberty, once lost, is lost forever." - John Adams

Saturday, June 12, 2010

Euro poised to sink to parity with Dollar in 2011, if either still exist

"The euro is set to sink to parity with the dollar in 2011 because of the slow pace of economic recovery in Europe, if it has not broken up by then, a consultancy predicted Friday."
The Euro has been in a freefall for the last 4 months against the Dollar, from a high of 1.48:1 in January to now around 1.2:1, a loss of nearly 20%. With Greece in position to default on it's debt by end of summer, the Euro will sink to parity or even lower within the same amount of time. This spells the end of the Euro as a world currency. There have been rumblings and some reports even that Germany is planning to revert to the Duetch Mark and France back to the Franc, and in fairly short order.

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