Economics Questions

Re: Developed nations without central banks?

Juan — Mon, 06 Jul 2009 18:44:46 GMT

Whether panama has a central bank or not is frankly irrelevant. Panama is a small banana republic under the control of the US. There is no, and certainly can be no free-banking in panama.

Re: Developed nations without central banks?

Stranger — Mon, 06 Jul 2009 18:25:47 GMT

fsk:

However, people in Panama still feel the effect of inflation in the USA. The banksters in the USA may still steal the savings of people in Panama via inflation.

People in the whole world feel the effect of inflation in the USA.

Re: Developed nations without central banks?

fsk — Mon, 06 Jul 2009 17:13:48 GMT

There's another interesting point. I believe that in *NO* country are gold and sillver given legal tender status. I'm not 100% sure.

As condition for membership in the WTO and IMF, countries are barred from using sound money, as part of the terms of the treaty.

Re: Developed nations without central banks?

fsk — Mon, 06 Jul 2009 17:12:49 GMT

However, people in Panama still feel the effect of inflation in the USA. The banksters in the USA may still steal the savings of people in Panama via inflation.

Re: Developed nations without central banks?

Stranger — Mon, 06 Jul 2009 17:04:20 GMT

fsk:

Panama uses the US dollar, making the Federal Reserve the central bank for Panama.

Panamaian banks are not part of the Fed system. They can't inflate credit safely.

Re: Developed nations without central banks?

abskebabs — Mon, 06 Jul 2009 16:54:22 GMT

fsk:

Panama uses the US dollar, making the Federal Reserve the central bank for Panama.

Indeed, in the same way the ECB is the central bank for Monaco and Andorra, as the Euro is legal tender for those countries.

Re: Developed nations without central banks?

fsk — Mon, 06 Jul 2009 16:39:58 GMT

Panama uses the US dollar, making the Federal Reserve the central bank for Panama.

Re: Developed nations without central banks?

jed.green — Sun, 05 Jul 2009 20:41:50 GMT

@ askbabs

Wow, that's freakin scary...

@ wilderness

Thanks m8, I'll have to check that out

Re: Developed nations without central banks?

abskebabs — Sun, 05 Jul 2009 15:35:12 GMT

Just 2 on this list:

http://en.wikipedia.org/wiki/List_of_central_banks#Countries_without_central_banks

Re: Developed nations without central banks?

wilderness — Sun, 05 Jul 2009 14:32:00 GMT

The Bank of International Settlements, the central bank of central banks in Switzerland gives a list of all the central banks such as the one in Afghanistan, Zimbabwe, Yemen, United States, United Kingdom, etc...

Re: Developed nations without central banks?

ivanfoofoo — Sun, 05 Jul 2009 14:26:00 GMT

Great, didn't know that! It's still sad that they are fully dollarized, because they inflate with the dollar as well.

Re: Developed nations without central banks?

Stranger — Sun, 05 Jul 2009 05:02:31 GMT

http://en.wikipedia.org/wiki/Economy_of_Panama

Developed nations without central banks?

jed.green — Sun, 05 Jul 2009 02:57:27 GMT

Are there any? Anyone have a good resource for central banks in other developed nations?