tag:blogger.com,1999:blog-2341954168256070610.post2169316636294089284..comments2023-09-12T01:15:08.356-07:00Comments on Honduras Coup 2009: Cooking the BooksRAJhttp://www.blogger.com/profile/00097415587406899236noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2341954168256070610.post-48332693097072162112009-09-18T10:28:22.811-07:002009-09-18T10:28:22.811-07:00RNS asks, "Why would anyone want to be electe...RNS asks, "Why would anyone want to be elected President in November to take over such a miserable economy?"<br /><br />Answer: The people running the government have very nice salaries and benefits. Sure, the public may be irritated and uppity, but the police and military exist to keep them off the lawn of the presidential palace. <br /> <br />As for counting the IMF grant as reserves, I think the coupistas are essentially correct. From the standpoint of a creditor, the money (or its electronic equivalent) exists. That means that some financial institution somewhere will lend money, probably at extortionate rates, against that security. As long as the world lifts sanctions before Honduras runs out of money, no problem (for the creditor). But even if the world doesn't lift sanctions for some time, the creditor's claim will probably eventually get paid, because of course banks have to be protected from the consequences of their own actions. And if there's a revolution... well, the new government will definitely need to establish its creditworthiness, and how better than to pay its obligations? <br /><br />--Charles of MercuryRisingAnonymousnoreply@blogger.com