Lew Rockwell: The Euro and the EU were a mistake

The Greek bailout has the potential to put the global economy into a recession. Some critics say that Greece isn't getting bailed out but the actual banks that own the Greek debt are. Many say the banking establishment needs to go and shouldn't be bailed out as a risky deal goes bad. Lew Rockwell, chairman at the Ludwig Von Mises Institute, gives us his thoughts on the Eurozone debt crisis.

Follow Liz on Twitter at http://twitter.com/LizWahl

Category:

News & Politics

Tags:

• RTAmerica
• RT America
• RT
• RTTV
• US
• USA
• United States
• economics
• default
• economy
• president obama
• debt commission
• barack obama
• congress
• world economy
• Greece
• Greek economy
• greek bailout
• euros
• eurozone
• g-20
• france
• banks
• Lew Rockwell
• Ludwig Von Mises Institute

[RBaleog]

I applaud Lew!

Ron Paul 2012 or bust!

[PeaceAndGloryMB]

These are not Banks - these are criminal casinos out of control.

[help4343]

@RBaleog

Yeah, lets applaud the person that was probably the true author of the infamous newsletters. 

[thatsmyrail]

I'm European and I have to agree with this man, unfortunately.

[tyseibert]

@syntaxed2 lol I can't believe you're saying that the euro is the most stable currency in the past 10 years. Every country in the world holds DOLLAR reserves. Do you know why they do that? Because they believe the dollar is the safest currency because historically it has been. They don't keep gold reserves lol they keep dollar reserves which says something about the value of the dollar in their minds lol however wrong they may be.

[tyseibert]

@syntaxed2 lol you think that the euro is the most valuable currency? The British pound is more valuable than the Euro. That doesn't matter though lol just because a currency is worth more doesn't mean it's stable and it doesn't mean that the economy is healthy. You obviously don't know anything about economics. The simple fact is that every economy is in shambles right now because of debt. We will all default eventually. The eurozone is an easy first target though.

[Efteling4Ever]

Iraq, Afghanistan, tarp etc. etc. Now it turns out the FED has provided not 700 billion but over 7,7 trillion USD to banks at a rate of 0,01% (wtf?) and these have then purchased treasury bonds to be paid back by the US government at a rate of 3%... 7,7 trillion!!!!!. And then Americans moan about the Euro.... What a joke. Nice to be paid in USD, but if someone would pay me in EUR, I would prefer that any time. If the USD will drag and stumble on, the Euro sure as hell will be around too.

[Adnachiel2]

@dreakheart Not trying to be mean here, but the problems of the E.U. stem from a variety of issues. At the beginning of the Euro, each country had seperate culture, economy, and governing structure. Unlike the U.S. which began as a united entity, the European Union sprang from existing countries with varying levels of wealth. I do not agree with the assertion that the E.U. is a mistake, but the implementation was not handled well. It is unfair to hate the U.S. for one man's opinion.

[dreakheart]

4:57 put the thumb screw on because this is how those people operate ... jezus christ what !!!!!?? what is this gay homo queer dipstick pogo homper ass wiping truck driving asslicking homosapian derp fucking asshole!!!

he´s realy pushing it , if he wants to die , he needs to visit europe , RIGHT NOW!!!! and you´ll find him in a box chopped to pieces or whats left of his rotten corps!!! in a box sended to the department of american major leage fuck ups of all time, hope this dick does horrible

[dreakheart]

2# Also if this motha fucker is so deep down on getting the euro down so the dollar will be increased again in value , if this is the grand master plan of it all then give me a knive ill gut rip this motha fucker infront of his family and piss in his skull and smash his piss head to pieces with a malet and feed his crushed piss head to the maggots ,

fuck the dollar , fuck obama in his face kill that asshole, or ill do it for you

and fuck these asshole reporters and spokesmen fucking assholes!!

[dreakheart]

i hope alot of danger , goes out of excistance , shoot that man ^_^

kill him atleast

european union a mistake ??

so the united , union state of america is a mistake aswell

what a fucking idiot

honestly he disses on union even america is a united state

and look at him blink so many times , he´s so nervous listen to his voice

i will kill this motha fucker for this deception what a motherless mother fucker

the euro is fine godamn i wanna kill that mothe fucker now!!!!

america sucks !!