On Thu, 01 Oct 2015 19:25:23 -0400, Ed Huntress
wrote:

On Thu, 01 Oct 2015 17:24:43 -0500, F. George McDuffee
wrote:

On Thu, 01 Oct 2015 17:50:32 -0400, Ed Huntress
wrote:
snip
...because France, as well as every other
developed country, has an equivalent to our Ex/Im Bank.
/snip

While impossible, abolition of all such "banks" would be a
trade pact I could support. How long do you think the
people would have to wear hearing protection, given the
howls that would ensue?

The people would be the ones screaming, because the number of lost
jobs would run into the millions.

There are few countries that could afford those huge purchases without
a stable, insured, low-interest loan. The only ones of those that
exist are government-supported ECAs (export credit agencies), like our
Ex-Im Bank. That's why they exist. If private banks could do it, they
would, and they'd be screaming to get the ECAs out of the way.
---------------
How/why would there be any lost jobs if all the companies
lose their subsidies?

The register price may well go up, but it would go up
everywhere, the relative prices would stay the same, the
subsidies would go disappear, and the "free market" would
start to work again.


--
Unka' George

"Gold is the money of kings,
silver is the money of gentlemen,
barter is the money of peasants,
but debt is the money of slaves"

-Norm Franz, "Money and Wealth in the New Millenium"