Idiots managing finance? Joking! No, the IMF, as in International Monetary Fund.
These people oversee the global financial system and just picked up $.75T (thereabouts) at the recent G-20 for them to do globally something similar to the financial bailouts that we've seen in the US and EU.
Who are these guys, and gals, beyond a bunch of harpers who can go into a country and attempt to tell them how to run their economy? Many times these efforts had very unpleasant consequences for the citizenship. Must be nice to know so much as to run the world.
Note that the US is not a client. No, the US is a founder.
Well, Shelton (Gab Standard, et al) sees some issues (WSJ 04/27/2009) that bear to be noted. There is some pressure for another international currency, like a Euro for the world.
How would this be valued? That is, what new insights and knowledge would prevent those same types of things we see with the dollar and the American economy?
In terms of gold, the IMF has 12.9M ounces. How much is in Fort Knox? 147M ounces, or so.
What other approaches are there besides gold?
Remarks:
08/17/2009 -- As promised, FEDaerated is here.
08/10/2009 -- Near-zero will be looked at more closely.
Modified: 08/17/2009
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