Monday, October 13, 2008

Why Financial Collapses Are Unavoidable And Government Actions May Be Backfiring

Open Letter to
Dominique Strauss-Kahn, Managing Director of
The International Monetary Fund (IMF)

Martin D. Weiss, Ph.D., Chairman,
Sound Dollar Committee

Dear IMF Managing Director Strauss-Kahn:

1. Government interventions are backfiring.

2. Government actions are too little, too late to stem the debt crisis.

3. Government actions are too much, too soon for the debt markets.

4. Government bailouts could endanger government credit and credibility.

5. Government actions could aggravate, or even cause, the systemic meltdown they are seeking to prevent.

6. Governments are squandering scarce capital that will be needed for a true recovery after any collapse.
Read Letter Here

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