Currency Boards and Currency Restrictions

Michael Cohen mike at
Tue Sep 1 13:47:48 PDT 1998

michael perelman wrote:

> One of scrooge's nightmares was about having invested in U.S. bonds.
> Carl Remick wrote:
> > Re Michael Cohen's: " How did the US keep from becoming a permanent
> > economic colony of Britain?"
> >

If foreign governments cannot guarantee a supply of capital at attractive rates,then default or a moratorium on private debt becomes attractive. I guess the problem is the develping Asian countries are largely developed for the export market.

--mike -- Michael Cohen mike at Associate Professor, Center for Adaptive Systems Work: 677 Beacon, Street, Rm313 Boston, Mass 02115 Home: 25 Stearns Rd, #3 Brookline, Mass 02146 Tel-Work: 617-353-9484 Tel-Home:617-353-7755

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