What about a country that adopts a foreign currency?

Via Scoop.it#GreekCrisis

“Yet another rescue plan for the EMU is making its way through central Europe—with the ECB acting as lender of last resort to Euro-banks. It is trying the tried-and-failed Fed method of rescue. As we now know the Fed lent and spent over $29 TRILLION trying to rescue (mostly) US banks. It did not work. The biggest banks are still insolvent, and have continued their massive frauds trying to cover up their insolvencies. You cannot paper-over insolvency through massive lending by the central bank. And the Euroland problems are compounded by the insolvencies of virtually all their member states.”
Via kostasgeorgioy.blogspot.com

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Posted on December 26, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

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