Great video for people who would like to understand our fiat money system. Whether his predictions come true is another story, imo it wont be deflation first, as he does predict. I believe we will go straight into hyperinflation from here but I also believe it is going to happen within this decade.
and the root cause for most previous economic crises and for the present crisis by Bill Still on YouTube: The Secret of Oz
On 17.06.2010 BNP Paribas had projected EURUSD below parity in 2011:
“Despite this week’s rebound we have revised our EURUSD projections lower once again. So far, we had expected EURUSD to hit parity in Q1 2011, followed by a gradual rebound of the EUR. Now we are convinced that EURUSD will have to remain weaker for longer and we expect it to drift to 0.97 in Q3 2011.”
The actual Euro/USD ex rate at 31.07.2010 was ca. 1,30, they were forced to swap gold with the BIS to get out of a massive currency crunch. I wonder whether they have closed their money losing bet on the Euro …