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originally posted by: junglimogli
originally posted by: DJW001
a reply to: wasaka
So the developing nations are going to pool their money and loan it to... whom? Each other? Nations that are not developing? What's the plan here, and what do they plan to do if, say, Venezuela defaults on their loan? Seize their material assets, ie; oil fields?
What they will do is not murder anyone who challenges them .. like the US clearly does when the dollar is challenged ..
Trading should never be limited to one monopolistic currency .. it's high time people realized that and did something about it ..
Eastern culture is to help one another in the group ..and find balance .. not like the West, where greed and savagery seems to be the order of the day, to stay on top ..
originally posted by: paraphi
Are there really any central banks that are private? For example, the Bank of England was nationalised in 1946 and is therefore publicly owned. Although the arrangements for the US Federal Reserve are different, that organisation is not private.
Incidentally, the two biggest banks in the world are Chinese and the Chinese Central Bank is so closely linked with the political one-party-state that displays more similarity to a private organisation than comparable organisations in the West.
There is little glue that naturally binds them together and not much shared vision, unlike the developed and democratic West.
Are there really any central banks that are private? For example, the Bank of England was nationalised in 1946 and is therefore publicly owned