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pahunkboy -> International Accounting Standards Board Prepares For `Severe Hyperinflation' (10/4/2010 7:01:47 PM)
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International Accounting Standards Board Prepares For `Severe Hyperinflation'October 4, 2010 • 9:27AMThe International Accounting Standards Board (IASB), the agency which sets international accounting standards, has issued a proposed amendment to the International Financial Reporting Standards to deal with the effects of "severe hyperinflation." According to an "exposure draft" issued Sept. 30, the IASB wants "an exemption that would allow an entity to measure assets and liabilities at fair value and use that fair value as the deemed cost of those assets and liabilities" in their financial statements. The IASB is based in London, and is chaired by one of the British Crown's knights, Sir David Tweedie. A more apt name for this body would be the Imperial Accounting Standards Board, as its role is to impose rules which benefit the Brutish Empire's monetary system, at the expense of the nations and the peoples of the world. IASB standards, imposed by the empire, form the basis for the national accounting standards of many nations. The IASB has formally requested comments from accountants and other interested parties on this proposed amendment, with a deadline of Nov. 30. It seems they know something they do not want to admit to the public at large, namely that "severe hyperinflation" is a reality with which the accountants will have to deal. It is yet another de facto admission from the empire that Lyndon LaRouche is right about the hyperinflationary blowout, while at the same time pretending that it can be dealt with by accounting measures. Gee guys: One minute your system is there, the next minute it is gone. How are you gonna account for that?/snip
http://larouchepac.com/node/15988
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