Another
brief post; if only as a relief from all the long, very serious and complicated
ones being read on the web at present.
The answer
to the current Euro crisis is quite simple.
It is to reinstate the Maria Theresa Thaler (see Wikipedia) as the basic
currency of Europe , benchmarking a variety of
other currencies against it.
Furthermore,
fiat currency issue (paper money) should be one hundred per cent backed by
reserves of the MTT and credit creation by banks and others limited to four
times only of their holdings of the hard currency MTT reserve.
How could
this policy be put across to the general public? It could be called “Back To Basics”.
There would
need to be an appropriate regulatory regime in place in each country with an
adequate criminal law to guard against counterfeiting, fraud and financial
malpractice.
If we were
to use the experiences of the past in these matters it might be difficult to
know where to transport convicts to but I am sure somewhere could be found.
It might
seem to be an outlandish suggestion but it could be better than the
alternatives we face.
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