Dear Stitch - thanks for the probings. Sometimes, I do write first and think later <g>.
In this case, in retrospect, it is my crumsy way to think the USD is the only viable choice - well, forgive me in case there are gold bugs lurking out there <g> - for the time being. However, I'd like to leave the backdoor open until the euro dollars muster enough circulation to test the alternative theory.
Regarding HK and Malaysia, my point is that everything is a matter of degree [and execution.] My bias for keynesian approach notwithstanding, I think free market is a great idea but it can be can be lousy at times in practice. I mean, expound the free market concept to the farmers in the midst of the Dust Bowl back in the 30s doesn't do any good to ease the pain of the empty stomach. However, intervention has a goal and thus a motive. Additionally, one has to watch out for "the road to hell..." and see to it that cogency be applied evenhandedly. Obviously, noone knows what exactly are the motives behind the actions of HK and Malaysia respectively. However, IMHO, HK has applied specific remedies without being too restrictive to starve off liquidities - which are an important aspect of 10s of thousands of small businessmen in HK.
OTOH, everyone can draw one's conclusion on Mahathir's actions and consequences. Since I do not think Dr Mahathir Mohammnad is a stupid person [quite the contrary, I tend to think he must be pretty smart to be a PM,] then he must ve motives other than relieving the sufferings of ordinary Malaysians by closing the financial borders of his country.
Well, I almost convince myself I knew what I was talking about <G>
best, Bosco |
