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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.44-0.2%Dec 19 4:00 PM EST
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To: Phil Jones who wrote (3900)11/15/1999 10:39:00 AM
From: Dave R. Webb   of 4066
 
Phil

(off topic (or along the lines of the thread))

Of the numerous ways that countries can control their currency values, varying interest rates has become the favourite. An increase in the interest rates can in the short term increase the value of the currency, it does so at the expense of the borrowers. Of these, the largest are without exception, the federal governments. They are somewhat immune though, as they can print (or tax) their way out. The balance of the borrowers suffer. Examine the effect of Canada's high interest rate policies of the early to mid 1990's. This was but a peek at what can happen.

In the end, fiat currencies will inflate. It's just a matter of who will pay the price.

Dave
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