IMCU questions

[<mosler@xxxxxxxx>]

Questions for an imcu world.

1.  To maintain full employment in a world
of domestic 'demand leakages' such as ira's
keough's, pension reserves, insurance reserves, and the like over time govt. deficit spending in
local currency will likely be required to be at full employment.  In other words, international trade balancing will not likely be sufficient
for international full employment?

2.  Since each nation maintains its own central bank, member governments are not 'credit sensitive' in their own currency.  Is it therefore not to their benefit to not only deficit spend in their own currency to maintain
domestic full employment but additionally to
import as much as possible via additional deficit spending of their own currency?  That is, purchase as many imcu's from the CB (which will go into overdraft as per clause #5) as possible and spend them on imports?

3.  Doesn't forcing creditor nations to spend imcu's in nations with overdrafts actually, in real terms, help the creditor nations at the expense of debtor nations?

4.  Since domestic deficit spending is unlimited and can be used for domestic full employment
by each member nation, why would they not attain full employment that way regardless of imports.  In other words, why can all demand shortfalls be alleviated via domestic, local currency, deficit spending?