1 The crisis coming from Europe will be far, far larger in scope than anything the Fed has dealt with before. 2 The Fed is now politically toxic and cannot engage in aggressive monetary policy without experiencing severe political backlash (this is an election year). 3 The Fed's resources are spent to the point that the only thing the Fed could do would be to announce an ENORMOUS monetary program which would cause a crisis in [and] of itself. http://www.munknee.com/2012/06/euro...-2012-this-is-not-doom-gloom-this-is-reality/ Personally I think it will take longer, but a few good points.
http://forums.silverstackers.com/topic-27329-united-states-of-europe.html Why collapse the trap when the prey have not yet been ensnared?
Europe is key to our immediate futures... PRECIOUS-Gold rises as investors await ECB action As if to underline the dangers in the single currency bloc, Moody's cut the credit ratings of several banks in Germany -- the bloc's strongest economy, citing a greater risk of further shocks from the region's debt crisis. But the euro shook off the downgrade and edged higher against the dollar ahead of the ECB meeting. Spot silver climbed 1 percent to $28.79 an ounce, extending gains from the previous session. "Technically, silver has tried to break $27 several times in the past few weeks and failed," said a Shanghai-based trader, "Similarly, it has made a couple of attempts to breach above $29 unsuccessfully." "If silver is able to gain a steady footing above $29, things will look a lot better." http://www.reuters.com/article/2012/...8H60CU20120606
I think we are still a few years off from any major collapse. The Eurozone will still be around by 31st December, 2012 - I think this a dead certainty. As for the "United States of Europe", I think we don't have to worry about that too much. The French people wouldn't stand for it. In France, three groups run the country - the President, the Deputies and the mob. At the very least, the French people at the most grassroots level understand what "active participation" in politics means.
Yes, its a tricky one to gauge. IMHO, I feel you are right and the EU will flounder for some time yet whilst they argue for/against firmer union in order to acheive a platform to print more Euro(s). Unless something happens in Greece/Spain/Ireland/Portugal/UK/Other EU state that is an 'unknown unknown'.