At 02:38 11/12/00 -0800, Colin wrote:
Thanks for comments
I don't know what Lenin had in mind -- these were typically colonial
institutions, but might be a quick expedient before something else could
be set up. Curiously, J.M. Keynes wrote a memo in 1918, while he was at
the British Treasury,
It is not clear to me that a currency board inevitably involves fixed
exchange rates which cannot be devalued.
By definition, it does. You peg your currency to a stronger one,
abandon any exchange controls, and adopt the rule that your monetary
base will never exceed your central bank's
At 12:59 08/12/00 -0500, Louis Proyect forwarded:
NY Times, December 8, 2000
Floyd Norris: With Argentina's Peso Overvalued, It Can't Compete
By FLOYD NORRIS
Significant article which I also spotted in the International Herald Tribune.
I think it would help in forwarding articles if people
Chris Burford:
The overt agenda however is why the hell is the IMF once again "bailing
out" a major intermediate economy in such a mucky fashion? Why not let them
rot in the name of freedom?
From Robin Hahnel, "Capitalist Globalism in Crisis, Part III: Understanding
the IMF"
But when the IMF
At 09:01 10/12/00 -0500, Louis Proyect quoted:
From Robin Hahnel, "Capitalist Globalism in Crisis, Part III: Understanding
the IMF"
snip
So IMF bailouts are not bailouts of debtor countries and their economies at
all. ThatÂ’s just a popular misconception that some find convenient to let
pass
NY Times, December 8, 2000
Floyd Norris: With Argentina's Peso Overvalued, It Can't Compete
By FLOYD NORRIS
It's bailout time.
The International Monetary Fund, having just broken speed records for
arranging a huge cash infusion for Turkey, will turn next week to
Argentina, where it is
