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You cannot lie in the foreign exchange market. If you bs your productivity vis-a-vis loose money supply, your currency will rightly be worthless. The USD would
by mise_en_place 5y ago
You cannot lie in the foreign exchange market. If you bs your productivity vis-a-vis loose money supply, your currency will rightly be worthless. The USD would usually be worthless too, it's just that due to Petrodollar system and reserve currency status, it's artificially propped up to be strong.
- imtringued 5y agoI hope you notice the irony in your comment. You praise the exporters while completely ignoring that imports must exist in equal proportion to exports.
- mise_en_place 5y ago> You praise the exporters while completely ignoring that imports must exist in equal proportion to exports. In a closed system with two economies, yes, true. But in reality, many nations either run a trade deficit (exports < imports), or a trade surplus (exports > imports)