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.