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Politics : Ask Michael Burke
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To: Freedom Fighter who wrote (80585)5/11/2000 8:24:00 PM
From: Tommaso  Read Replies (2) of 132070
 
You may be wrong but your reasons are the best I have read.

Another 50 basis points would continue the strength of the dollar against the Euro (undeserved, probably?).

If you have a paper currrency, though, you have to defend it with high interest rates and the European countries just are not doing that yet. High enough interest rates can take the place of gold, if you guarantee that whoever holds the currency will have that much more of it a year ahead.
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