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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (44426)1/13/2006 11:41:41 AM
From: mishedlo  Read Replies (2) of 116555
 
So, effective today, the US dollar will be devalued by 50 percent....."

someone tell me how that is even possible
For starters the RMB is pegged to the US$
The UK is in as bad a shape as the US

and on the practical side alone how does one devalue the senior currency

and even if we could do that would we want to start paying 50% more for oil and goods from China (assuming of course China went along with it)

The idea is not only preposterous it is stupid

Mish
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