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Probably announce -- probably join -- by John Brown once again see Marcus said -- Euro Pacific Capital making his way to this side.
And upon once again good to see John good to see you register addresses you don't see just that generally now -- I've been in the camp that.
The United States is not Europe particularly Southern Europe we're just not the -- yes we're spending money left and right yes we have tremendous fiscal deficits.
Why I understand -- that's how we're similar in a very dissimilar.
History of I don't know what you want to call it work ethic -- whatever the case may be.
But I just think -- that dissimilar from recently never will be used seem to think that we might be more similar than then and different.
-- one similarity is being the constant devaluation of the US dollar.
In real -- -- us -- against other currencies and of course not it's because people -- -- about other currencies the US dollar is very strong.
And that's why they're live all right is rising because people are realizing how they do I want to get out of some of -- -- by the into the dollar into the big ship.
-- and see.
Where actually maybe the big ship is sinking to a maybe launch to be on -- dry land which is code and so.
But I want to get into the -- and have full banks in London us jogging more and more for dollars so the Libor rate is rising.
When respect that but you're right I'm America has a tremendous -- that -- And until that allows.
Five years -- America used to send send its goods.
Not just based on price but on the whole product makes a quality -- goods the office sales service and -- You just take one major exporter for example buying -- I'm in great stop tremendous quality and great off to sell -- and that's changed that -- when it's changing I mean that unfortunately.
Like it -- not -- becoming socialism.
The socialist and apple people -- designed.
I want to depend on the government I don't want to do what my -- Highlander.
What less -- but for more money.
When to capitalism says work harder for very much more my -- and I would change that's changing Saturday in the United States and so there is a similarity.
America as well behind -- but it's day in the same direction look at our debt structure.
A -- Britain has the -- worst.
Government debt ratios in the world and America as a six who has done so well that with the -- -- bad people of course.
-- never allowed to mention -- that United Kingdom the United States may.
Made news that credit ratings.
What's changed since you -- last year because when you -- last year you were here right before the elections in the UK.
What's changed overseas it is isn't same story in the care of -- -- -- right.
Ended in elections in the united -- see him.
And what we -- that was of basically a non result no party won I mean and they voted against everybody read it.
Do the conservatives on the -- leader a pretty liberal minded not really conservative.
Cameron is sent in on an imitation of Margaret Thatcher.
And so he was very prepared to lean further to the left and and socialists and -- -- to the liberals.
And make a coalition with -- -- these so keen.
To be prime minister that he's giving way on almost every key conservative.
Mandate and that's very wind because it means that Britain too is heading to and -- -- towards socialism despite the fact that Gordon Brown the great seriousness was -- -- the election fresh.
Well you know you it's funny you know it's you mentioned the fact that the Russian to the dollar is akin to passengers on the Titanic streaming towards the stern of the ship.
As it began sinking.
-- -- -- -- But I among my question then is all right it's a big old ship the US is -- big ship can this thing turned quickly.
Mid term elections beginning of November we get more toward a conservative government where.
This spending will stop or at least slow down a little bit can you reverse this course.
Well a big ship -- -- -- to turn it.
But if they have real power and the propellers you can Tenet and real for America and knowledge -- days it was spending.
Now it's going to be hope a new idea for America.
To really go for entrepreneurs and -- -- -- that and therefore you have to see massive cuts in government spending massive reductions in taxation.
And things I've added this is a solo thing that would -- -- America and I'm petite body is shows in the grassroots actually want it.
And so a government that came in to do it would be a hero to grass roots and would be very very successful that would be the -- That pushing power on and say you can -- the big ship.
Are we getting anything like this in the UK any of that grassroots.
Like Tea Party has a small hear other people in the UK they're saying.
We want to make tough decisions and tough sacrifices.
Yes you arm what's fascinating it's -- and actually knew popsicle the united kingdom independence spot on and -- didn't let it have a hub and well they it's hard for anybody to get in on the first Boston -- bases as you got about 40% of the vote.
But in the proportional representation which is for the European Parliament we have 14%.
Of the British seats.
And so it's beginning to get representation.
And that is a posse and is basically the equivalent in the united kingdom of the Tea Party in the United States.
But you say that -- you -- these changes.
-- -- -- get European nations basically turning down all the austerity measures and and they say they're going to agree to them we know at the end of the day it's not gonna happen.
-- we're in a bigger hole because we bailed them -- and that clearly didn't work.
That is exactly what's happening and it's happening in Britain made.
Had a six billion dollar cut in public expenditure but the day before they'd raise the tax thresholds are -- and seventeen billion.
-- that this still Ramadan would crack.
And it's a political problem because the politicians are so used to spending it's like me who's used to eating -- on -- Dodd telling.
I mean I know I should but it's agony not keep going on the dot many teams show good jump in the evening but.
But it's not working right now we spent a trillion not visit trillion dollar.
Package basically on the table for.
Greece because his misspent.
I mean that the Vick he has as it is to cutting government spending and the trillion dollars in American and Britain and it should be used to reduce tax.
Not to just give money away it should be reducing taxation and that's the real incentive.
Because the people who want to work odd appreciate the lack of tax where there's a business and individual.
People that you just solve a lot of trillion dollars to it they say you've been a week's time where's the next trillion.
And so what's happening Greece is -- -- paper -- papered over the problem.
The problem is still that and the Euro is fundamentally fraud in two major respects.
One is that despite the -- differing economies they've got a one size fits all of them some on the disparate economists and that's the common.
And commonly recognized throwing the but the one that's not widely recognized as the fact that the -- like the European Union.
Was conceived and pushed on people by stealth.
And therefore people have noticed and it was not any non democratic and anti democratic and -- -- -- -- -- key countries like Germany.
Where the European Union is now becoming very unpopular and the and so they will not support that politicians who want to stop.
Getting the Euro under control and increasing -- getting together of Europe to cement -- Real quickly I got about five seconds we're once when he too with the Euro against the dollar what do you think it goes how much lower level I -- know how much are lower yeah that's Augusta me which.
Padraic cat -- to move when he gets -- -- but I can get -- the same as everybody is saying.
Yeah 110 -- big at a commitments are buying -- they have to lose a lot of yeah.
-- somebody the Euro -- has.
Well there would be it even the rescue for Greece.
That's and turned it percent of it was real money and rest is just guarantees -- -- -- first we have Stuart -- and Ashley -- now John Brown the Anglo influence here on -- network today if somebody.
-- -- -- I yeah I that this is important so I think -- -- can't talk about it but we have to go to break thanks John good to see you thank Tom currency markets that is.
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