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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (22346)2/7/2005 10:20:29 AM
From: The Vet  Read Replies (1) of 81142
 
in preference to creating debt (printing money),

Sorry Searle, but I've lost your meaning with this statement. The poor countries don't print their own debt. The US and Europeans do the printing provided that paper they just created out of thin air to the poor countries. They then demand real money or goods in repayment for somethong that cost the producers of the paper nothing to make. The IMF doesn't print that money, its richest members do, and they benefit by the interest, repayments and the restrictions placed on where the poor countries can spend that money.

There is no printing involved in removing poor countries debt, not is there any further debt involved. The countries that printed the value of the loan initially just have to write it off. Gold need not feature in the transaction at all.
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