Free Market Failure For People: 1990's Part 2
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Well, Dennis, your presentation may have been ahead of its time. Today, 3/2/2008, Some Eastern Europe countries found themselves with loans valued in Swiss Francs while their own currency was suddenly devalued. Now they have a much greater debt than the original commitment. It seems that Banker's arithmetic is skewed in favor of the banks in countries having the most stable currencies. I suppose if you can keep other countries in debt to yours, then you can always hold that high ground. Sad.
desertlight 3 years ago