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A Reversal in the Trend of International Reserves - Hugo Salinas Price - Plata.com

"Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration." Lincoln's First Annual Message to Congress, December 3, 1861.

http://rogerjnorton.com/Lincoln97.html

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Début de l'article :In the reasoning that follows, the statement "all other things being equal" must be understood. What produces increases in the world total of International Reserves? Increases in International Reserves take place when the Reserve Currency issuing countries (RC) effect payments to the rest of the world (ROW). Typically, RC payments to ROW take place when: a) The RC countries are purchasing more stuff from the ROW, than the ROW is purchasing from the RC. In other words, when the RC as whole run t... Lire la suite

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