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11-30-2008, 11:53 PM #1
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- Jan 1970
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Must Read Book Chapter From "Web Of Debt"
Are we going to be going to Canada soon to find work?
http://www.webofdebt.com/excerpts/chapter-22.php
Why did Mexico need to go into debt to foreign lenders? It had its own oil in abundance. It had accepted development loans earlier, but it had largely paid them off. The problem for Mexico was that it was one of those intrepid countries that had declined to let its national currency float. Mexico's dollar reserves were exhausted by speculative raids in the 1980s, forcing it to borrow just to defend the value of the peso.2 According to Henry Liu, writing in The Asia Times, Mexico's mistake was in keeping its currency freely convertible into dollars, requiring it to keep enough dollar reserves to buy back the pesos of anyone wanting to sell. When those reserves ran out, it had to borrow dollars on the international market just to maintain its currency peg.3"Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost." -- John Quincy Adams
DHS says 'privacy' of migrants on terrorist watchlist is greater...
05-17-2024, 09:42 PM in illegal immigration News Stories & Reports