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That’s like saying “cryptocurrency trades 7 zillion dollars of value per day but only $3M per day of actual business occurs, so actual business considerations c
by amluto 4y ago
That’s like saying “cryptocurrency trades 7 zillion dollars of value per day but only $3M per day of actual business occurs, so actual business considerations can’t possibly affect the price of cryptocurrency”.
There is a whole lot of money moving around via forex transactions, but that doesn’t control the value of the dollar.
- nojito 4y agoUSD FX runs the entire world. Comparing it to crypto shows a lack of understanding of international markets.
- amluto 4y agoUSD is extremely important internationally. The ability to exchange it freely is part of why it’s important. This does not mean that the $5T per day of FX outweighs the actual commerce in determining the value of the dollar. (I’m not interested in the “lack of understanding” game.)