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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (750006)10/30/2013 8:11:16 PM
From: RetiredNow  Read Replies (1) of 1576346
 
The Australians protect the value of their currency and keep deficits as low as possible. They have a fiat currency, but they are certainly no Keynesians. They are more Austrian in their actions than many other countries. The Germans too are enforcing some financial discipline on the periphal countries, although they themselves are more Keynesian than Austrian. One day soon, you may find out the Chinese are more Austrian than you think, when they start to take market share of our reserve currency status. I think there is a very good chance they move to peg the Renminbi to gold...they sure have been acquiring quite a bit in the last few years...and that will have a dramatic impact on destroying the USD's reserve currency status. As you know, hard currency is a staple among Austrian economists.
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