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Power’s world: G20 and the tooth fairy

By Jonathan Power  

Teeth of gold: are SDRs the answer?

Can  tooth fairies help us in our great economic and financial crisis? Actually, yes. They can help deliver a major expansion of the resources of the International Monetary Fund by a method envisaged at its founding in 1944 by the greatest economist of all time, John Maynard Keynes.

The mechanism for doing this is to expand the issue of what the IMF calls Special Drawing Rights (SDR), what Keynes considered to be “paper gold.” At…

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