For way over a year now, I’ve been convinced that the euro as a currency was in its last days. Without a central fiscal authority, or a central bank willing to print unlimited money to buy government debt, I could not and still cannot picture any scenario where the eurozone will survive. I tell people this constantly. I kick and scream and I tell them how bad the situation is, what needs to be done, and what will happen if not. I try to make a difference, one person at a time.

And the reason I become so passionate when I talk about this topic is because this stuff matters. It’s not just economics. It’s not just unemployment. It’s not just struggling families. It’s not just quality of life. It really really matters.

Depressed economies create societies where extreme non-tolerance thrives, violence against minorities is accepted, freedom and liberty are eroded, and fascist parties take power. Usually I’m told that I’m being sensational, but we are already seeing this. Look here, here, here, and here. It’s truly scary.

By my count, if the euro falls I will have 5 bets to cash in on. And I’ve done well in the markets by betting against the euro’s survival.

But I hate the idea of profitting off something that is so so so horrible, that I am hoping doesn’t actually happen.

But if I really think it’s inevitable, what’s a brother to do?

It’s still Thursday evening here in Toronto, but the time is 03:49 in Berlin, Friday December 9, 2011.

I’m just imagining streets across europe, mostly empty and quiet waiting for the sun to rise. An eerie calm before the storm.

Bob Solow explains.

I can’t get over how good this is.

It’s like a wonderful monster that just gets bigger and bigger the more it gobbles up.