Discussion in 'Economics' started by Debaser82, Jan 21, 2009.
Check out the Hong Kong Dollar:
Hongkong and Shanghai Banking Corporation
Kind of strange no?
HSBC can't print its own money.
In Hong Kong, Bank of China, HSBC, and Standard Chartered can all print paper currency.
I don't understand
How come a private bank is allowed to do that?
If they have a charter that is old enough, private banks in the US can print their own money.
The link and image is broken. I have not seen what you are referring to. With that in mind, in association with the title of the thread "Can -fill in the blank- print it's own money?" the answer is Yes!
So long as both a buyer and seller agree on a form of currency, a "price", and a method of payment, payment can be made in ANY tangible or intangible form. It doesn't matter if it's kernels of corn, time, official currency, precious metals, or anything else tangible or intangible, as long as both parties agree on the form of currency, the price, and the method of payment.
here's 2 "banks" with completely different currency
Once unthinkable, now unstoppable
This video might help you to understand:
The Money Masters - How International Bankers Gained Control of America
it is a long video, but well worth the time.
if you are in a hurry... watch at least the first 15 min.
Hong Kong has no government mint so HSBC, BoC and Standard Charter are appointed by HK government to print HK currency.