期刊名称：Annals of the University of Oradea : Economic Science
印刷版ISSN：1222-569X
电子版ISSN：1582-5450
出版年度：2009
卷号：XVIII
期号：01
出版社：University of Oradea
摘要：The economic crisis that the global economy is facing nowadays has started with the financial crisis of the
U.S financial system. We are talking about an unprecedented speculative bubble at global level which has
overcome the previous bubbles, created by the dotcoms or the pyramidal games (such as Caritas) at
national or regional level.
The financial crisis, apparently caused by deficient risk management, is a null sum game, in which the
wealth gains are made private and loses are socialized. The epicenter is the U.S, where favorable
conditions are created to facilitate the real estate credit (a home for each family); institutions to guarantee
these credits where created by the state and the interest rate was reduced a lot. The main vector for
triggering the crisis was the credit default swap created by JP Morgan.
关键词：economic crisis, exchange rate, metal reserves
