The splendidly tenacious Professor Philipp Bagus, placed into the lions’ den, educates the world, and a couple of other rather blinkered commentators, on the oncoming future demise of the Euro.
Telling it like it is is never popular, even, it seems, on Russia Today:
I’ll be publishing Philip’s book into Italian by the end of the month. It’s really a great book. Shame the debate wasn’t in his language, and couldn’t defend himself as well as he surely would have done in his mother tongue. In the book he offers all the arguments to do so. These other guys are just defending a rotten system which is one two year maximum from collapse. The just don’t get the reasons (the gold standard is not appropriate for today’s economy?? do me a favour!)and how could they? Bet they don’t even know who Mises is. Great Philip good job by the way, speak to you soon.
Just great prof Bagus! i have already red “the tragedy of euro” …everything is clearly and logically explained !
I think the major point Philipp missed was to ask why any taxpayers should be on the hook for the loans issued by private banks. This makes no sense. Taxpayers do not enjoy the rewards when the loans go well, why should they take a hit when they go bad?