international monetary economists, the relatively few who actually understand what we're talking about right now, Dmitri, can't explain this in many cases, but it's actually quite simple. The Fed has a printing press. They can print dollars. The European Central Bank has a printing press. They can print euros. The IMF has a printing press. They can print SDRs and hand them out. The only difference is they hand them out to countries, not to individuals. So you and I will not have SDRs in our pockets. It's not what we call in Philadelphia walking around money, but it'll go to countries and then can be swapped for other forms of currencies used to pay bills, highly inflationary. It's just money coming out of thin air. And that's where the liquidity will come from. It can't come from anywhere else. It's not coming from Mars. It's not coming from the dark side of the moon. There's only one clean balance. She's the IMF. But here's my point. That will not be instantaneous. By the way, a lot (70/98)
You are viewing a single comment's thread from: