Former Member of Bush Economic Team Thinks Germany Will Bring Back Deutsche Mark: ‘They Have Already Ordered the New Currency and Asked that the Printers Hurry Up’
September 29th, 2011Bio: Philippa Malmgren:
Dr. Philippa Malmgren is the President and founder of Principalis Asset Management, a financial firm based in London. In short, she helps fund managers better understand how politics, policy and geopolitics will impact the financial markets. Investors use her insights to manage their portfolios more profitably. Her clients include many investment banks, fund managers and hedge funds as well as Sovereign Wealth Funds, pension funds and corporations. She founded the Canonbury Symposia, which brings together high level experts on strategic security, defense and intelligence matters to meet with experts from the financial markets.
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She served as financial market advisor in the White House and on the National Economic Council from 2001-2002, where she was responsible for financial market issues. She founded Malmgren and Company, in London, England on 2000 and was previously the Deputy Head of Global Strategy at UBS and the Chief Currency Strategist for Bankers Trust. She headed the Global Investment Management business for Bankers Trust in Asia. She has a B.A. from Mount Vernon College and an M.Sc. and Ph.D. from the London School of Economics. She completed the Harvard Program on National Security. The World Economic Forum named Dr. Malmgren a Global Leader for Tomorrow in 2000. She is also a member of the Council on Foreign Relations, Chatham House, the Economic Club of New York and the Institute for International Strategic Security.
Via: pippamalmgren.com:
News to expect in the coming days and weeks:
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The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up.
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The markets are very likely to have to contend with the re-introduction of Deutsche Marks in the near future. This is bound to mean a collapse in the value of the Euro for those countries that will remain in it (devaluation for the rest of Europe). This step may seem unthinkable but, I believe that the German government is telling us in multiple ways that there is no other solution from their point of view.
Wow. Dr. Philippa Malmgren has awesome credentials. Calling a return to the Deutsche Mark in Germany would be parallel to a call to a return to the gold standard in the U.S. Things could get very “messy” in either scenario.
Human beings are adaptive creatures. Not all peoples are accountants. Let them worry about the numbers in the transition from fake to real.
Scotty, make it so.
Calling a return to the Deutsche Mark in Germany would be parallel to a call to a return to the gold standard in the U.S. Things could get very “messy” in either scenario.
You’re very correct about this.
The return-to-the-Deutsche Mark story is actually a frequent theme on sites where a lot of total nonsense gets posted! In the last couple of years, someone passed around Photoshopped pallets of old Deutsche Marks and tried to convince people that they were new. It was a hoax. So I was VERY surprised to see someone like this Malmgren person saying that it’s happening.
It’s funny…just 10 or so years ago there was so much criticism from countries like Germany and the UK against joining the Euro-Union – and their main point was how dangerous they felt it was to ally themselves economically with countries like Greece, Portugal, Italy, etc. Germany was a cornerstone country where pressure was stepped-up. The UK obviously balked.
Now, those fears are proven absolutely correct. The Euro-Union was a forced centralization scheme and a bad idea. So it wouldn’t surprise me the least to see Germany be the first to the exit.