the start of a new trend?

http://www.bloomberg...6...Vh0sQ&pos=7

http://www.bloomberg...6...Vh0sQ&pos=7

Everybody "wants to get their money"... that which they believe they're entitled to.

Nobody wants to acknowledge "print-money" benefits, unsustainable borrowings to pay for it.

HOGWASH!!

Were the offshore depositors who lost their money not "players?"

I mean, putting money in Iceland? Right.

Edited by selecto, 06 March 2010 - 08:30 PM.

These politicians have a lot to learn yet, why wouldn't they quietly print themselves out of their debt problems? Is it because nobody would take their currency or govt bonds? If nobody takes their currency or buy their govt bonds, why bother to pay anyone? If your lender says your currency is not good, you tell him to come and collect! This calls for a war --that British would choose to get involved, so either British should go into a war or simply take Iceland bonds as a payment... So what makes UK think that the British Pound in which they lent to Iceland is worth anything anyway?

These politicians have a lot to learn yet, why wouldn't they quietly print themselves out of their debt problems? Is it because nobody would take their currency or govt bonds? If nobody takes their currency or buy their govt bonds, why bother to pay anyone? If your lender says your currency is not good, you tell him to come and collect! This calls for a war --that British would choose to get involved, so either British should go into a war or simply take Iceland bonds as a payment... So what makes UK think that the British Pound in which they lent to Iceland is worth anything anyway?

When you boil it down, keeping currencies afloat is all about faith. How long do the faithful hang in there? For some, its a religion all its own.