Read this. It is long, and a history lesson….but I promise it is relevant.
Think about it.
How is todays economics any different than what happened then?
Think Greece and the bailouts. Think “Quantative Easing” I and II. Think what the EU wants to do to all those folks who currently hold Greek bonds. Think about what happens if Greece (and all the other PIIGS default, and what happens to the insurance market and to the bond market and to the worlds economies. I, for the life of me, cannot see any difference, except that instead of a King, the decisions are made by a bunch of economists in a meeting in Brussels and Washington DC.
How are we not getting the “short end of the stick”?
BTW, if you have investments (retirement or otherwise) in Europe, or based on the EURO, I highly suggest that you divest yourself of them immediately. The crash will not be good for any of us, no matter where we have our money. But there will be people who are hurt, and people who are devastated. Those with Euro holdings will be in the latter category.
(Disclaimer: I am not an investment advisor, nor do I play one on TV. Make your own decisions….)