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Our huge FX reserves are monumental shame
Forex reserves are ponzi
Summing up the recent Eurozone crisis, Germany is accumulating too much reserve and on the other side of the coin, Greece is incurring too much deficit. In the crisis, Germany's claims against Greece shows up in the form of Greece owning lots of monies to German banks. Greece is going to default unless a bailout is arranged, either way, Germany is going to foot the bill.
The German experience has shown that accumulating huge reserves eventually harm the creditor nation.
The reserves of Singapore, in another perspective is debt of USA. While fingers are pointed at US government's profligacy, nevertheless the East Asia governments are equally guilty in financing the US debt ponzi.
- http://veritas-lux.blogspot.com/2011/09/ponzi-island-4-our-huge-reserves-are.html
Forex reserves are ponzi
Summing up the recent Eurozone crisis, Germany is accumulating too much reserve and on the other side of the coin, Greece is incurring too much deficit. In the crisis, Germany's claims against Greece shows up in the form of Greece owning lots of monies to German banks. Greece is going to default unless a bailout is arranged, either way, Germany is going to foot the bill.
The German experience has shown that accumulating huge reserves eventually harm the creditor nation.
The reserves of Singapore, in another perspective is debt of USA. While fingers are pointed at US government's profligacy, nevertheless the East Asia governments are equally guilty in financing the US debt ponzi.
- http://veritas-lux.blogspot.com/2011/09/ponzi-island-4-our-huge-reserves-are.html
