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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Robert Douglas who wrote (541)	9/3/1998 3:01:00 AM
From: Frodo Baxter	Read Replies (1) of 3536

How did exactly did Krugman become the architect of the ASEAN monetary system anyway? Hanke's sound money currency board system gets mocked, while Krugman's pie-in-the-sky unsound money exchange control system gets adopted? How bitterly ironic. Let's see how Malaysia's plan will work... a) peg the currency at higher than market, then prevent market forces from correcting it, b) lower interest rates and print lots of money, c) declare victory. Hmmm, interesting how easy international finance really is, n'est pas? Paul Krugman, the Karl Marx of capitalism.

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