The Debts of the World: Unlimited Swap Lines - The Future After Rate Cuts Are Exhausted

It's never been done before - especially w/low to zero conditionality based loans. The G7 WILL mess things up in the beginning. Expect to see gigantic gyrations in fx markets w/equally volatile repercussions in equities and bonds.

But eventually the G7 will get what they want: a single OECD currency (not to be confused w/a single world currency). They will be able to use this control to influence events in emerging market nations - or at least try to. Recent events have already shown that complete isolation from negative market effects are impossible to prevent.