wyoming cowboy wrote:The hydrocarbons off the coasts of Greece+Cyprus are what the bankers in Brussels are counting on to hedge a devalued euro,once liquidity is given to the European banks and deserves its own thread.
In late 2008, when the financial crisis hit the usa's economy, congress approved a debt ceiling increase(printing of more American dollars), in order to save many American banks and to save General Motors from extinction. More debt ceiling increases followed these past 4 years. Some of these excess dollars was also used to stimulate the American economy ie road and infrastructure improvements and to also buy gold(hence the huge increase in gold prices the last four years)...and from what i see the Europeans have started buying gold also lately:
http://www.resourceinvestor.com/2011/11 ... evaluation
The biggest worry when you devalue a currency is that high inflation and a weakened currency will follow, unless you find a way to give the excess money real value. Newly discovered natural resources/petroleum/precious metals, could be used to hedge a devalued currency and ultimately erase the bad effects of devaluing your currency.
Here in the USA, in 2008, a huge petroleum find in the Dakota's, was then estimated to provide an amount close to 300 million barrels/year. Precious Metal mines in the Rocky Mountain states are also beginning to be mined with rigor. Not only are you providing value to your devalued currency but economic growth as well, which after 4 years is beginning to show up in economic statistics, lower unemployment and a significant gain in housing prices and the American stock exchanges have doubled since the 2008 financial crisis.
http://www.reuters.com/article/2012/05/ ... 0O20120524
http://www.reuters.com/article/2012/03/ ... 4V20120308
http://www.reuters.com/article/2012/05/ ... 0O20120524
Since China, in late 2011, refused to buy European bonds, the focus is turning to following an American approach to solving the debt crisis and stimulating European economies.
http://community.nasdaq.com/News/2012-0 ... yid=112758
And like ive said before, its quite possible, that the hydrocarbon reserves of Greece+Cyprus will ultimately save the euro and the European Union. If anyone is into speculative investments,(real estate,equity) Greece and Cyprus will both have the best economies to invest in the next 10-15 years.
Bingo!!!
https://www.cnbc.com/2019/02/28/exxonmo ... yprus.html
“..ExxonMobil makes biggest natural gas discovery in two years off the coast of Cyprus...”
“...At a press conference in Nicosia, Cyprus Energy Minister George Lakkotropis said he is excited about the findings. "It is an amazing development for all of Cyprus. This is the greatest discovery within our Exclusive Economic Zone (EEZ). In the coming months, the amount of natural gas will be more accurately estimated," he said...”
Wyoming Cowboy was correct in his assessment... How do we get him off the plains of Wyoming and back to Cyprus..? Last I heard he is shacked up with a Sioux Indian lady making Sioux/Cypriot babies..
