Today the library is so noisy I can’t hear myself think. And someone messed with all the computers. I couldn’t even find the mouse. I had to look all over for it. It was hidden under the desk. I wonder if the librarians did it. They’re the last ones out of the building and they come in every night after everyone’s left and try to put things in place.
Well, enough about the librarians. I heard yesterday on the radio that a lot of Americans are renouncing their American citizenship. And I don’t blame them. But it’s not for the reason you think. A lot of the Americans who moved to Europe are renouncing their citizenship because of the IRS. Wherever we Americans live, we have to pay the U.S. government taxes. If someone from Spain moves out of Spain and goes to live in Canada, the Spanish government no longer collects taxes from the Spanish citizen. The U.S. is the only country which collects taxes when a citizen decides to live elsewhere. If that citizen doesn’t pay his taxes, the IRS hounds him/her for the taxes. A lot of banks in Europe cancelled bank accounts of Americans because the U.S. makes them give them information on the accounts of Americans. The European banks don’t want to be bothered with American accounts and all the problems they cause. And that’s why Americans are renouncing their citizenships. They don’t want to be bothered with Uncle Sam’s Internal Revenue Service hounding them. So rather than put up with Uncle Sam, they decided they rather give up their citizenship and be able to keep their bank accounts.
At one time, America used to be a place where people from other countries wanted to come. Now, Americans are running away. In the years before 2013, about 500 Americans renounced their citizenship. In the year 2013, 3000+ Americans renounced their citizenship for various reasons. And I think that number is going to skyrocket in the following years. America is no longer the place it used to be. It’s become rotten to the core. I know a lot of Americans still think America is the only country that’s free, but that’s not true. There are a lot of countries that are freer than the U.S. America has a long way to go before it can say it’s free. If I had a place to go, I’d leave!!!
(By the way, I got the information National Public Radio)
I have no idea what’s going to happen to the Euro.
I know that 17 countries have the same currency. A few are Austria, Belgium, Portugal, Spain, Greece, Italy,etc. The reason for the Euro is to make trading between the countries cheaper. Plus it removes cost of exchanging currencies. Using the same currency has reduced the cost of traveling from one country to another. Also goods bought while traveling are cheaper, since there is no exchange rate. It’s almost like traveling from one state to another state in the United States. We use the same currency in every state, and we don’t have to pay an exchange rate every time we travel from state to state. It’s the same money in every state. That’s the way it works with the countries that use the Euro.
But the Euro has recently run into problems. Some countries have problems because of huge debt deficits. It began with Greece. Greece could not pay on its debt, and had to borrow. It borrowed from the central bank and wasn’t able to pay back its debt. Then Spain and Italy had the same problem. Too much debt and can’t pay back the money. Too much debt because they spent more money than they had. A lot of debt accumulated because high unemployment, therefore, no taxes coming into their treasury. Being in debt caused problems world-wide, even in the United states. The stock market here went up and down every day, causing people to lose their hard-earned money.
No one knows what will happen with the Euro. I sure as hell don’t. Will it survive? Or will all the countries that are part of the Euro go back to their original currencies? No one knows. Not even the countries involved. Only time will let us know the future of the Euro.
But I’ll venture a guess and say that the future of the Euro is a short one. I wish I had money to put into the stock market. I’d make money by betting against the Euro, ala George Soros. He always makes money by betting against what’s going to happen to currencies all over the world. That’s how he became a billionaire.