Tuesday, April 7, 2009

It's Global Helicopter Money

The decision by leaders from the Group of 20 largest economies to boost the Special Drawing Rights of the International Monetary Fund is like creating “helicopter money for the globe,” a key member of the European Central Bank Executive Board was quoted as saying Tuesday.

“That is pure money creation,” German business daily Handelsblatt quoted J├╝rgen Stark as saying, indicating that the move could spur inflation.

viaWSJ

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