Global creditors› identifications and their seemingly inexhaustible resources as if “only the sky›s the limit”, remain largely unknown to most of us. Countries in debt crisis often in sheer desperation prefer calling upon the International Monetary Fund (IMF) or the World Bank for conditional relief action. Multilateral and bilateral borrowing serve as a second and third line of defence, where Central Banks play a leading role. Central Banks generate electronic money with simple mouse clicks, as Fed Chair Jerome Powell confirmed to a US Networks Reporter some time ago. Reckless money printingWho owns the Central Banks, owns the money.

Source: Sunday Observer February 12, 2022 20:10 UTC