I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Friday, 4 September 2009

Panama Has No Central Bank and No Inflation

Since It's creation by the US in 1903 Panama has never had any inflation problems or monetary collapses. It has over 100 banks, all financially sound.

The absolute absence of a central bank in Panama created a completely market driven money supply. Panama’s economy has also chosen the US dollar as its main currency. The country must buy or obtain their dollars by producing or exporting real goods or services; Panamanians cannot create money out of magic.

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