Tuesday, October 28, 2008

Another Ambrose classic.

IMF may need to "print money" as crisis spreads

The Fund is already close to committing a quarter of its $200bn (£130bn) reserve chest, with a loans to Iceland ($2bn), Ukraine ($16.5bn), and talks underway with Pakistan ($14.5bn), Hungary ($10bn), as well as Belarus and Serbia. Neil Schering, emerging market strategist at Capital Economics, said the IMF's work in the great arc of countries from the Baltic states to Turkey is only just beginning.

Posted by gardeniadotnet @ 05:15 AM (744 views)
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3 thoughts on “Another Ambrose classic.

  • And who exactly gives the IMF the authority to erode savings by counterfeiting currency? For all our sakes we need a currency 100% backed by a non-inflatable commodity. Think about it – millions ‘lost’ in Icelandic banks, levels of indebtedness increasing all the time. Why? How? If you haven’t worked it out by now, there is little hope.

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  • sold 2 rent 1 says:

    And to think in March 2008 they were planning GOLD sales because they had no-one to lend to.

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