Declan Murphy <declan_murphy@hotmail.com> wrote:
> On Oct 19, 1:55?am, mtfes...@netMAPSONscape.net wrote:
> > Declan Murphy <declan_mur...@hotmail.com> wrote:
> > > On Oct 18, 10:28?pm, CL <flot...@yahoo.com> wrote:
> > > > Declan Murphy wrote:
> > > > > You say you pissed away your Manifest Destiny? Yes, yes, I understand.
> > > > >http://www.mcsweeneys.net/2009/9/25hahn.html
> > > > > Ouch.
> >
> > > > That's, like, *SO* Bush Administration ...
> > > Wishful thinking Charlie. Since Bomama was elected (thankfully), is
> > > Merika some less "obsessed with breasts. No breast is too massive, too
> > > bouncy, too tan, too exposed"? methinks not.
> > > I just think its too late. The (fortunately USD$ denominated) debt
> > > will be repayable, but only by monetary financing, which will
> > > necessitate a lower UDS$/rest-of-world exchange rate than would
> > > otherwise be the case. Bretton-Woods is dead. "G20 stuff" is a
> > > temporary thang, and we will have 3 or maybe 4 currencies acting
                                        ^^^^^^^^^^^^
> > > (simultaneously) as reserve currencies during the next 10-25 years or
> > > so.
> >
> > Yeah, I can just see China floating the yuan...

> Why would the PBC want to or need to float? The yuan isn't a reserve
> currency, or even a major traded currency, and isn't likely to be for
> about a generation. They won't even need to think about a dirty float
> or banded ERM for another 15 years or so.

So what other currencies did you have in mind? Yen? Rupees? Sparkly dust?

Mike