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"How? By what magic? Why, by the magic of a phrase. The phrase was: 'It is the established policy of the United States to maintain the two metals at a parity with each other by law.' Naive trust in the power of words to command reality is found in all mass delusions."

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Home The News Miscellaneous IMF Poised to Print Billions of Dollars in 'Global Quantitative Easing'
IMF Poised to Print Billions of Dollars in 'Global Quantitative Easing'
News - Miscellaneous
Written by Edmund Conway, Telegraph.co.uk   
Tuesday, 17 March 2009 20:21
Telegraph.co.uk - The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency" in an unprecedented new effort to address the economic crisis.

Alistair Darling and senior figures in the US Treasury have been encouraging the Fund to issue hundreds of billions of dollars worth of so-called Special Drawing Rights in the coming months as part of its campaign to prevent the recession from turning into a global depression.

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