While the worldwide push down on interest rates "unleashed a torrent of capital, lifting all economic 'boats' and bringing the world together, pushing down [currencies] will tear the world apart. Everybody can lower rates simultaneously. Everybody cannot debase their currencies at once."Having cut interest rates to zero, central banks look to cutting currencies. A dangerous tack?
Sunday, September 19, 2010
Central Banks Embrace Risky Currency Gambit
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