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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (69976)	11/3/1999 9:55:00 AM
From: pater tenebrarum	Respond to of 132070

BGR, i never said that currencies exist in a vacuum...i only said that the currency's value should be a CB's only concern. in any case, i actually think we would be better off without central banks...but that's another debate. as to the relation between interest rates and the currency's value, i am aware that rates are not the only determinant. in the case of the Euro, money supply is growing above the ECB's target... if money supply growth eclipses economic growth over a sustained period, the currency's value is eroding. i want the ECB to refrain from committing the same sin the Fed has committed, i.e. allowing rampant money supply growth and the attendant credit and asset bubbles. the Fed is trapped by the bubble now...no need for the ECB to follow in it's footsteps. hb