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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (20750)7/4/2002 11:17:22 PM
From: elmatador  Read Replies (2) of 74559
 
The beauty of the capital siphoning executed by the US, is that no one even notice it! Perfect act. If the signs are right capital doesn't fly. But people by their own will exchange their local currencies for USD. Who sets the perceptions, send the wrong signs, so that people rush to buy dollars?

Rating agencies set country risks. And rating agencies manned by some small boys who utterly ignorance of the real world. To whom does setting a higher risk to a given country benefits? I answer that: The country where those rating agencies are based in.

That there are countries with lousy economic policies? Sure there are. But there are countries with lousy policies that are punished and there are countries with lousy policies that don't.

Of course the Europeans noticed that and acted accordingly setting heir own supranational currency as a counter measure. Had other countries being wise enough, they would rather set for a single currency rather than a rag bag of own currencies.
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