Print money=Pissed-off world

[Po_d Mainiac]

WASHINGTON (Reuters) - World Bank President Robert Zoellick said the United States should not take the dollar's status as the world's key reserve currency for granted because other options are emerging.
<snip>
The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency," he said. "Looking forward, there will increasingly be other options."

http://www.reuters.com/article/newsOne/idUSTRE58Q1YU20090927

[Why Syzygy]

1. This is his wet dream.

What an ass.


In excerpts released on Sunday from a speech that he is to deliver on Monday, Zoellick said global economic forces were shifting and it was time now to prepare for the fact that growth will come from multiple sources.

"The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency," he said. "Looking forward, there will increasingly be other options."

Zoellick said that a meeting of Group of 20 rich and developing countries in Pittsburgh on Thursday and Friday had made "a good start" toward increased global cooperation but they will have accept global monitoring of their activities.

"Peer review will need to be peer pressure," he said.

Zoellick said that the G20, as the new chief forum for international economic cooperation, also must not forget the 160 countries left outside its structure and should try to open opportunity for them.

"We need a system of international political economy that reflects a new multi-polarity of growth," Zoellick said. It needs to integrate rising economic powers as 'responsible stakeholders' while recognizing that these countries are still home to hundreds of millions of poor and face staggering challenges of development.".

[DJ13]

2. The printing press is barely keeping ahead of the wealth destruction

from the worthless bonds that created the whole mess.

This is the same idiocy that the conservatives spout about their sudden concern over the deficit.

Without the printing of money at this time massive deflation would be endemic worldwide.

Is that what the World Bank would want?

[Why Syzygy]

3. I read that no actual printing has taken place.

I know there are new bills in circulation. Don't remember where I read it, but the claim was that everything "created" has been digital only.

[Art_from_Ark]

4. Wow, digital money

Literally making "money" out of thin air. Abracadabra, presto-change-o! Now you don't see it, now you do!

[Po_d Mainiac]

5. Essentially yes. That's what the Fed is doing with t-bill purchases.

[truedelphi]

6. Not only is it mere digital dollars, but Bernanke assured us

That there would be no repurcussions. Apparently these are special, no bad influence anywhere digital dollars!

You see, he is not billing the tax payer or affecting any inflationary-deflationary cycles.

He told "Sixty Minuts' that most people don't realize that he just taps on a keyboard and throws some money into accounts that he makes up.

It's that simple. And now that we all know that, we can move on to other more exciting things to discuss.

[Po_d Mainiac]

7. Exactly!

But he took 13 minutes to say what you were able to do in 3 lines!

Move along..nothing to see here...move along folks, show's over:toast: