The Bleats of Ignorant Sheep

The Guardian is unfailingly able to offer ignorant comment by economically illiterate idiots, combined with the encouragement of brain washed believers of fantasy. Hywel Williams offers up todays pile of crap.

Electoral reform and the euro were the two most important political issues in 1997, and both would have changed Britain for ever - and for the better.

After years of all the world's sentient beings talking about how badly the single currency has fared, Mr Williams is still of the opinion that it would have been good had Britain joined. He is not alone:

ChristopherDalby: Agreeing that the euro went through some troubled times in its early history, it has enjoyed a vigour in recent years that Britain could have shared in. Despite the fact that the pound is enjoying prosperity at the moment, its rise is slowing down as companies seek out investment in mainland Europe instead of our increasingly old-of-touch Anglo-Saxon bastion.

Mr Dalby is falling for that old favourite of people whose knowledge of economics is zero. That a currency is regarded as a success if it is strong.

AntonVDH Not joining the Euro is going to look like a bad move before much longer. The dollar is about to crash big time, not a question of if but when and who it drags down with it.

Anton seems to believe that we have pegged our currency to the dollar. Either that or he thinks that we should stop trading with the USA, because its dangerous.

whatithink Of course the UK should join the euro and as soon as possible. The opposition comes from the banks, who make huge amounts of money out of charging people to exchange money

My game is up, I have been rumbled. My real name is HSBC. The fact that ordinary people might have an opinion is completely discounted.

Their only arguments are conspiracy and scare tactics, and yet they wish to make irreparable changes to our nation and we should shut up and take it. After all we are demonstrably stupid. We disagree with them.

If any of these enlightened souls should happen across this humble blog, the real argument against the Euro is simple.

An economy is best served by interest rates that reflect the reality at that moment, not the average of a dozen or so starkly different economies. Only a national currency can achieve that. The Pound will go up and down against the Euro and other currencies. This is as natural as the sea going up and down with the tides. As long as it reflects the underlying economy, fighting against it is as pointless as Canute's stand against the tide. An unnaturally low interest rate is just as undesirable as an unnaturally high one. So by keeping our currency we maximise our chances of achieving good economic governance.

Oh and above all, The Euro is a political project not an economic one. So don't try and use economic arguments to justify it.