segunda-feira, 23 de março de 2009

Está tudo louco

O Secretário do tesouro Americano anuncia um Plano que envolve a compra de 1 trilião (dos americanos, ou seja 1 000 000 000 000 $!) de dólares em activos tóxicos, com dinheiro... De monopólio, criado simplesmente a partir das impressoras da Reserva Federal Americana. E o mercado reage com euforia! Algo me diz que os dias do dólar como moeda de referência estão a aproximar-se do fim...

Em complemento deixo aqui a opinião de Paul Krugman, prémio Nobel da Economia e alguém que deveria ser mais ouvido pelo Governo Americano:

"(...)So now we have a bank crisis. Is it the result of fundamentally bad investment, or is it because of a self-fulfilling panic?

If you think it’s just a panic, then the government can pull a magic trick: by stepping in to buy the assets banks are selling, it can make banks look solvent again, and end the run. Yippee! And sometimes that really does work.

But if you think that the banks really, really have made lousy investments, this won’t work at all; it will simply be a waste of taxpayer money. To keep the banks operating, you need to provide a real backstop — you need to guarantee their debts, and seize ownership of those banks that don’t have enough assets to cover their debts; that’s the Swedish solution, it’s what we eventually did with our own S&Ls.

Now, early on in this crisis, it was possible to argue that it was mainly a panic. But at this point, that’s an indefensible position. Banks and other highly leveraged institutions collectively made a huge bet that the normal rules for house prices and sustainable levels of consumer debt no longer applied; they were wrong. Time for a Swedish solution."




Adenda: Nem de propósito, a China (que por si só tem 2 000 milhares de milhões de dólares em reservas), veio propor através do seu Banco central a substituição do dólar americano como moeda internacional de reserva, com um novo sistema global controlado pelo Fundo Monetário Internacional...

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