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> It's also that the US doesn't play games with it's currency I would never consider buying Yuan over Dollars but I simply cannot agree with this statement. Wh
by DominikR 10y ago
> It's also that the US doesn't play games with it's currency
I would never consider buying Yuan over Dollars but I simply cannot agree with this statement. What the FED has been doing since 2008 and the ECB with the Euro is a massive experiment in gaming the markets which could possibly lead to catastrophic event. At least in the case of the EU I have no doubt that this will happen.
Today when you buy commodities or currencies your success or failure is not determined anymore by what the market believes is valuable or not, but instead by what governments and bureaucrats have decided should be valuable or what should go down in value. I am fundamentally opposed to this because it creates a lot of bad behaviour, corruption and governments ending up owning previously privately held property and companies.
It is not inconceivable that we could see various Western governments ending up owning most of the property in their countries in the next decades. That'd certainly be a creative way to implement Communism, I'll give them that.