The Inside Assyria Discussion Forum #5

=> Re: foreign aid blues

Posted by Tiglath (Guest) - Monday, October 25 2010, 8:57:07 (UTC)
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That's all part of the game.
We ask them to float their dollar, lower tarrifs andaccept FTAs. This lowers their defences and leaves their currency open to speculative attacks by monied speculators. After their currency is devalued they then begin to accumulate vast foreign currency reserves in surprise surprise US dollars which they then must hold to safeguard their currency. So instead of investing that money in badly needed infrastructure and social welfare the money is accumulated to safeguard their currency allowing the US treasury to borrow on the thrid world's foreign currency reserves and receive an exorbitant arbitrage fee while leaving the thrid world to wear the cost of deflation.

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foreign aid blues pancho - Sunday, October 24 2010, 16:59:07 (UTC)
- Re: foreign aid blues Tiglath - 10/25 08:57

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