@B_Eichengreen It would be soooo much easier if we went on a gold standard Barry......you need to read James Rickards' book Currency wars...
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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@B_Eichengreen It takes two to tango. Even a currency peg takes two. One who buys a foreign currency in order to support its value, and one -
@B_Eichengreen who sells them the debt. Was China a currency manipulator? Yes. Did the U.S. like it? Yes. If they didn't they could have -
@B_Eichengreen purchased other reserves (gold, Euros, whatever) and paid with an expansion of the dollar monetary base, thereby sterilizing -
@B_Eichengreen the Chinese dollar purchases. (if effect, China would have bought the other reserves, i.g. gold, Euros,...). -
@B_Eichengreen Conclusion? All the "currency manipulation" that has happened, does so with the consent of both parties.
End of conversation
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