Sunday, 26 July 2009

We were warned

"Growing domestic and international debt has created the conditions for global and financial crises".

Bank for International Settlements, 2005


Anonymous said...


Acorn said...

I wonder what would happen if we had only one Central Bank, say the BIS, controlling the monetary base of all the currencies; the sole agent for selling governments' debt into the global market. Perhaps combining the BIS with the IMF. Any ideas?

Alice Cook said...


even by the shocking standards of my typos, that was a bad one.

I have changed it. The only thing I can say in defence is that wamed and warned look quite similar from a distance.


electro-kevin said...

They look similar close up to the over forties too, I'm afraid.

You have this to look forward to... as well as a mountain of govt debt to pay off.