Printing And Borrowing Always Ends Badly

Assessment: Governments always want to believe that they will be able to disguise their imbalances with monetary debasement, but the effect is the opposite … As more countries copy the Federal Reserve’s monetary policy without the global demand of the US dollar, financing trade and fiscal deficits printing a weakening currency, nations become more dependent on the US dollar. Neither domestic nor international citizens demand local currency, and governments continue to build large fiscal and trade imbalances

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