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Strategies & Market Trends : Asia Forum
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To: Stitch who wrote (1872)2/3/1998 12:50:00 PM
From: tom  Read Replies (3) of 9980
 
Currency board in Indonesia?

Many are now debating this solution to the problem and it is not as crazy as it sounds:

1. The money supply is now so small in US$ terms that they could back the whole of M2 (if you include the IMF cash and other bits and pieces)
2. There would be no lender of last resort and so bankrupt banks would be forced to close
3. It removes Bank Indonesia from the game and puts monetary policy i the hands of Greenie

If it did happen then I reckon the markets would rocket.

Any thoughts?
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