Douglas Carswell, stop wasting money bailing failing Euro currency (03Nov11)

Conservative MP Douglas Carswell says we should stop pouring money in to the failing Mickey Mouse Euro currency, and take a short term economic hit, or keep wasting money had have worse pain.

Recorded from Sky News, 03 November 2011.

Category:

News & Politics

Tags:

• douglas
• carswell
• tory
• conservative
• stop
• waste
• wasting
• pour
• poring
• money
• into
• bail
• out
• bailing
• greece
• mickey
• mouse
• fail
• failing
• euro
• currecny
• eu
• eussr
• europe
• european
• 03
• november
• 2011

[liarpoliticians]

I don't know what is going on with youtube, but after multiple attempts, the video still does not playback properly. Encoded video that was uploaded plays ok.

[ukipwarrior]

British Popeye

[AnnoyedDragon]

If by "unsustainable system", he means the politicians insatiable appetite for spending other peoples money meant they could no longer maintain the gold-dollar link, because they created far too many dollars in relation to gold and their vaults was emptying.

I never expect ANY politicians to be in favour of a system that restricts their ability to spend more money than they should. How else will they be able to bribe voters with promises they can only afford by printing more currency?

[irdial]

@anyfekinnamewilldo And thats the SWISS who normally understand these things. Fortunately they can go back without too much pain. For everyone else, like the Brits, its going to be a complete, and very painful, disruptive, hyper-inflationary collapse, with prices going stratospheric. Any savings you have should be put into gold and only use the State's fiat money for day to day living. Sterling is designed to decline by two percent every... but you know all of this!

[anyfekinnamewilldo]

@irdial Wow..so they voted for inflation..head in hands!

[irdial]

@anyfekinnamewilldo What do you think?, "The Swiss franc has historically been considered a safe-haven currency with virtually zero inflation and a legal requirement that a minimum of 40% be backed by gold reserves. However, this link to gold, which dates from the 1920s, was terminated on 1 May 2000 following a referendum." - from Wikipedia.

[anyfekinnamewilldo]

@irdial Does Switzerland have a phony gold standard?

[irdial]

@anyfekinnamewilldo We are 100% on the same page. I agree with you completely and absolutely.

[anyfekinnamewilldo]

@irdial Yes he should have been clearer I agree as it sounds like he is advocating inflation but I just wanted to make it clear he is not. He should have said the "phoney" or "inflationary form" of the gold standard. As far as I'm aware Carswell is the only MP any understanding of Austrian economics (which should be called simply economics)

[irdial]

@anyfekinnamewilldo Words are important. Gold Standard means one thing and one thing only; gold coins in circulation as money (including silver for smaller purchases). That is ALL that it means NOTHING ELSE. Also, money should not ever be issued by the State. See "Good Money: Birmingham Button Makers, the Royal Mint" for some insight. We must use words in their true sense, at all times, without exception, no excuses.

[anyfekinnamewilldo]

@irdial You misunderstand - the "gold standard" in the 1930's was not a gold standard in an Austrian sense..Douglas Carswell is no advocate of fiat currency!

[RockofEngland]

I'm impressed..... A Politician that actually talks sense...