maybe let me rephrase this: the more control the US elite enjoys in the global political power structure the more it extorts the world. I have a class and a vlues dimension in mind. that is why i say elite.
----- Original Message ---- From: Julio Huato <[EMAIL PROTECTED]> To: [email protected] Sent: Friday, March 14, 2008 6:09:10 PM Subject: [Pen-l] Re: War costs and costs and costs by Joseph Stiglitz soula avramidis wrote: > I would have thought that dollar seignorage and > issuing debt on a global scale provides more > future rents than any of the costs now. they > maintain a stature of empire. Last time I looked, estimates of total seignorage revenues were about 2 billion USD. Say they are 3 billion/year now. That's like 1/3 of a percent of the total federal gov revenues/year. It doesn't even register as -- say -- a fraction of annual US GDP. What portion of those revenues has anything to do with invading and occupying Iraq? As far as issuing debt, maybe I don't understand, but the rents would flow to those holding the debt from those issuing it. That means that the US would have to disburse them. Purposefully accelerating USD inflation to decrease the real value of that debt would be like shooting yourself in the foot to get a week off at work. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l ____________________________________________________________________________________ Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now. http://mobile.yahoo.com/;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ
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