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Central American Leaders solve Global Credit Crunch!

Jun 13

san-jose-costa-rica

The latest news out of San Jose, Costa Rica says “Central American leaders” are calling for a joint credit fund and single currency throughout the region. Who these purported leaders are has yet to revealed. These “leaders” claim this idea has been a product of the world financial crash with the aim of maintaining some kind of fiscal stability in Central America.

There are fears that the current crisis will prevent foreign investment in Costa Rican and other Central American economies which will further worsen the problem. In an effort to combat this problem, a 41 point economic blueprint has been put together and signed by leaders and representatives in all Central American countries. What is not clear is how a single currency could increase foreign investment during a global credit crunch. But these are shrewd “leaders” who know how to manipulate foreign governments for grants, donations, loans so they might have a trick up their sleeves.

Costa Rica in particular is pushing for the common currency in Central America, as well as allowing passport-free travel between the group of nations. The eight leaders have grouped together and have said that it is important to develop “a regional conscience that instills people with a sense of identity and belonging to a united Central American region,” including “perfecting the issue of a Central American passport and the adoption of a single Central American currency.” Of course, Costa Rica would push for such a common passport which would allow many of the corrupt governments to issue false passports to drug traffickers and would provide Costa Rican officials finger pointing credibility when the international community says CR is a major transfer point in the drug trade.

“”It is said that all funds will be put towards a range of areas within the struggling economies of the nations. Areas of financial focus will be in agriculture, infrastructure, commerce and production. Currently it has not been announced where this funding will find its source.”" I guess I still am wondering, even if they got funding, how this would help themselves during a global credit crunch. If the incredible wisdom of central American “leaders” have a solution, they really should share it with the rest of the world because maybe they have not heard, the world is in a real crapper right now.

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One Response

  1. 1
    Jack 

    Hey don’t forget how the Costa Rican central bank back in December 2007 readjusted their exchange rate with the dollar and basically printing money off of that deal. If you looked at the options being traded coming from offshore accounts in Panama, Costa Rica, St. Kitts a week before this decision.

    How will the corruption that took place one year ago this month be improved with a single currency..please. This country is corrupt and it will remain that way until the people educate themselves or there is another revolution.

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