"Beginning in 1971, for the first time in the history of global finance, no currency in the world has been backed by anything. This monetary experience should be properly called an experiment, which is now reaching its logical conclusion. This includes some curious facts, such as the Estonian kroon, which is backed by a reserve currency, primarily the Euro, while at the same time the Euro itself is backed by nothing. And the Estonian Kroon is not backed by euro banknotes, but instead, in all likelihood, is backed by a mixture of German, US, and Japanese treasury bills. These are only government promises to pay that will, at the end of the crisis, make Estonia’s entire foreign reserves, gathered for bad times, almost worthless."
Kasutan võimalust tsiteerida oma vana lemmikut Umberto Eco't: "More to come!"
4 more 2 come, c FinancialSense - sealt on pärit ka äsjane tsitaat. Muide, dollar kukkus täna üle protsendi; kuld esialgu langeb veel.
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