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Why America is going to win the global currency battle

Discussion in 'BBS Hangout: Debate & Discussion' started by Ubiquitin, Oct 13, 2010.

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  1. Ubiquitin

    Ubiquitin Member
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    FT.com does not permit for their articles to be directly copied.

    Why America is going to win the global currency battle

    http://www.ft.com/cms/s/0/fe45eeb2-d644-11df-81f0-00144feabdc0.html
     
    #1 Ubiquitin, Oct 13, 2010
  2. Ubiquitin

    Ubiquitin Member
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    http://www.bloomberg.com/news/2010-...her-emerging-market-nations-to-intervene.html
     
    #2 Ubiquitin, Oct 13, 2010
  3. glynch

    glynch Member

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    .

    Azadre, good to see you posting more often again. On a break from Med School? Don't let them Drs grind you down to a mere Republican worrried about the inheriance tax like my best friend Dr. from high school who struck it rich by owning a string of dialysis centers.

    Getting old. I remember defending Azadre from the zenophobes when he was back in highschool.
     
    #3 glynch, Oct 13, 2010
  4. Ubiquitin

    Ubiquitin Member
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    We're having a repeat lecture on catecholamine stimulation of the heart, so I am reading the news and posting.
     
    #4 Ubiquitin, Oct 13, 2010
  5. glynch

    glynch Member

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    Mildly interesting I guess. Regarding the original article. My take from it is that it shows once again that the free market ideology that it is always best fails. So those with currency or currency valuation controls do best and the free market benefits mainly the strongest. Just like over reliance on markets leads to big winners with many losers.
     
    #5 glynch, Oct 13, 2010
  6. glynch

    glynch Member

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    Mildly interesting I guess. Regarding the original article. My take from it is that it shows once again that the free market ideology that it is always best fails. So those with currency or currency valuation controls do best and the really free market benefits mainly the strongest--just like over reliance on markets leads to big winners with many losers.
     
    #6 glynch, Oct 13, 2010
  7. Invisible Fan

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    This is a near to midterm assessment. The pound didn't die easily as well. It took what, 15-20 years?. As our debt grows through snowballing interest and entitlements, there's no way the dollar is sustainable as a global currency.

    It'll lead to a different solution where we're able to pay off our inflated debt while the rest of the world can capitalize imbalances upon the next currency(s).
     
    #7 Invisible Fan, Oct 13, 2010
  8. Mr. Clutch

    Mr. Clutch Member

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    We have Ben Bernanke. He's not going to let us go into deflation. He started a little late, but all signs point to more monetary action soon.
     
    #8 Mr. Clutch, Oct 13, 2010
  9. pippendagimp

    pippendagimp Member

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    i guess the wall street saying is really true....doctors do make the worst investors by far :grin:
     
    #9 pippendagimp, Oct 13, 2010
  10. AroundTheWorld

    AroundTheWorld Member

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    Azadre, have you considered going for an MBA? You seem to take a keen interest in economics.
     
    #10 AroundTheWorld, Oct 13, 2010
  11. YallMean

    YallMean Member

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    No disrespect, you really need to improve your ability to draw conclusions. I would be a little worried if you were my doctor. :cool:
     
    #11 YallMean, Oct 13, 2010
  12. TheBornLoser

    TheBornLoser Contributing Member

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    You ought to have posted this letter too :grin:

    As Azadre said, Financial Times does not allow the full copy of the letter to be posted here, so please read from their link.

    http://www.ft.com/cms/s/0/680d1688-d65c-11df-81f0-00144feabdc0.html

     
    #12 TheBornLoser, Oct 13, 2010
  13. Ubiquitin

    Ubiquitin Member
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    That's the title of the article, so disrespect taken.
     
    #13 Ubiquitin, Oct 13, 2010
  14. YallMean

    YallMean Member

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    Then your quotes didn't support the title(point) you try to make. Basically the quote says while US has the political power to strong arm a favorable international policy, the world is better off if all countries come to negotiate and agree to such a policy. So this has institutionalism tone that international cooperation is still desirable. The title, OTOH, makes a hawkish power statement, and that's realism. There is your inconsistency.
     
    #14 YallMean, Oct 13, 2010
  15. rocketsjudoka

    rocketsjudoka Member

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    Kind of hard to pin this on the free market when we are talking about currency manipulation by governments.
     
    #15 rocketsjudoka, Oct 13, 2010
  16. Invisible Fan

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    #16 Invisible Fan, Oct 13, 2010
    1 person likes this.
  17. Ubiquitin

    Ubiquitin Member
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    Those quotes were the only ones I could post from the article. The thesis of article is that because the world uses the dollar, the United States could effectively steralize any countries attempts at devaluation. But this is not good for the US, but it is also worse for the World as a whole.

    The last time we saw a race to the bottom like this was in the 1930s. Eventually Germany would've gone broke, and WWII broke out.
     
    #17 Ubiquitin, Oct 13, 2010
  18. bingsha10

    bingsha10 Member

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    its how you kill the goose that laid the golden egg.
     
    #18 bingsha10, Oct 13, 2010
  19. Ubiquitin

    Ubiquitin Member
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    Yep. The trouble is that it will wreck the export driven economies of developing nations like China and Brazil.
     
    #19 Ubiquitin, Oct 13, 2010
  20. Cohete Rojo

    Cohete Rojo Member

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    It's better to burn out than fade away.
     
    #20 Cohete Rojo, Oct 13, 2010
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