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Strategies & Market Trends : Asia Forum
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To: MikeM54321 who wrote (5454)8/12/1998 1:25:00 AM
From: Frodo Baxter  Read Replies (1) of 9980
 
>I don't understand how the economist can say, "waste its money?" What Rubin does is done in secrecy, so I thought. Who's to say the US didn't make money off his trade(s)? After all, it was a "relatively" small U.S. intervention (estimated at $2 billion) that sent the yen from around 146 to 136. Who's to say the US didn't cover the trade at a profit.

You have several deep misconceptions about currency interventions. Try these links:

ny.frb.org
ny.frb.org
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