Global Currency Race: Germany is back in Pole Position
November 26, 2010 By 611 Comments
“Don’t call it a comeback…” - LL Cool J Editors Note: Over the last 20 years the US and Europe have opted to stop manufacturing actual things, in favour of running Ponzi-style, get-rich-quick economies wholly based on speculation and worthless subprime paper sales. What was once the lowly teller window reserved for Third World African, Latin and Asian countries, EU orphan economies like Portugal, Greece and Ireland have now joined the queue begging at the altar of the International Monetary Fund (IMF). With the EURO single currency now permanently on the ropes, other light and middleweight economies in the Eurozone may also be joining that very same IMF queue. Meanwhile, the Teutonic Tiger has remained steady and is now in pole position to take China on head-to-head in the coming economic realignment of the early 21st century. Yes, you heard it right- the Deutsch Mark could be back… with a vengeance. Keiser: Germany has been quietly shoring up its reserves.