tag:blogger.com,1999:blog-11719208.post6321533754371421759..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: The China currency debate heats upTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-11719208.post-41918452061404442812010-03-15T13:08:01.844-07:002010-03-15T13:08:01.844-07:00China printed, which put far more credit in the sy...China printed, which put far more credit in the system than could be used profitably. If they want to increase their citizens' purchasing power, the easiest way is to just stop printing.<br /><br />Of course, other world central banks responded to Chinese printing by printing also, which made the debt crises even worse. Basically, all the world central banks should stop printing, and let consumer purchasing power increase enough to buy goods with cash (let CPI prices go lower as production technology improves).<br /><br />The banks are making debt slaves of the world's citizens via printing. They steal consumer purchasing power, and lend it back to them.Anonymousnoreply@blogger.com