因此，尽管降息方案仍然放在案头，但是美联储现在将继续依靠资产负债表去抵消信贷紧缩。

So although a rate cut remains on the table, the Fed will continue for the moment to rely on the growing use of its balance-sheet to counter the credit crunch.

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通过有序地创造货币抵消信贷紧缩、向银行系统注资，以及注销或减记累积债务，我们可以做到这一点。

It can be done – by creating money to offset the contraction of credit, recapitalising the banking system and writing off or down the accumulated debt in an orderly manner.

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给UNDP基金拨款的国家将会收到一份避免温室气体排放的信贷，可能部分抵消他们国家的石油燃烧费用。

Countries that paid into the UNDP fund would receive a credit for the avoided greenhouse gas emissions, potentially offsetting some of their own oil burning.

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