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The US Fed doesn't act as lender of last resort (and this includes setting tha base interest rates) nor does it provide deposit insurance or carry out bank supervision or regulation, nor sets reserve requirements. So, how is the US Fed HK's central bank in any meaningful way?

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Mon Jun 7th, 2010 at 08:11:33 AM EST
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