On Mon, Sep 29, 2008 at 11:40 PM, Sabri Oncu <[EMAIL PROTECTED]> wrote: > An actively traded eurodollar market of the "emerging market economy" > sovereign debt: if we the "emerging market" country Central Banks and > Sovereign Wealth Funds start trading each others' dollar denominated > debt rather than the US Treasuries, we may be able to bring the > emerging market sovereign spreads down. This may put a downward > pressure on our domestic interest rates relative to the US interest > rates and that way we may be able to bring the domestic interest rates > relative to the US interest rates down to get rid off this so-called > carry-trade, which is nothing but extraction of wealth from the south > to the north. We have more resources than the US has. Why are we
An excellent idea! But it does require a strong solidarity within the South. Are Venezuelans prepared to accept losses in case of economic distress (and possible default) in another country? Or is the nationalistic poison too deeply absorbed into the societies of the South for this to be feasible? -raghu. -- Confucius say, dirty book rarely dusty. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
