“The monetary system of a people reflects everything that the nation wants, does, suffers, is.” Joseph Schumpeter It's astonishing how a country with a record debt to IMF at a moment in time, quite recent, not a century ago, can become the seventh economy in the world, with the prospect to overtake Britain by becoming the sixth largest economy in the world in 2012. Now, I read in various economy magazines that the established civilized world may be afraid of the exotic emergence of four … [Read more...]