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He meant that the ECB would substitute its money debt for sovereign debt in the quantities needed to reassure the sovereign holders debt. The system established in the 1790s for recording wealth in land, buildings, and financial assets was astonishingly modern and comprehensive for its time.
Retired American military leaders like General Norman Schwarzkopf, commanding general of allied forces in the Gulf War, have endorsed the ban,arguing that these primitive but lethal weapons have no role in modern warfare.6 Although this is a matter of degree, it is nevertheless important: there are moments when the becomes quantitative qualitative.
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Are all these proposals utopian?8 But the important point is that even if there are many such individuals, their total wealth is relatively small. It is not my purpose to police dictionaries or linguistic usage.[45] To make things worse, the Gold Standard meant that their central banks could not increase the supply of money for fear of compromising the value of their currencies.
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In July 2013 Latvia received approval from the European Commission and the ECB to adopt the euro as its currency. They seemed to expect some memorable valediction, but I told them, simply, I was never emotional about moving on. Sitting beneath twenty-foot-high chandeliers in the conference room, the directors and executives batted around a number of different ideas The two Treasury officials next presented the alternative approaches, of which they had identified four: The government sells insurance to banks to protect them from any further drop in the value of their assets toxic.
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