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To: AreWeThereYet who wrote (7561)8/17/1998 12:02:00 PM
From: Sigmund  Read Replies (2) | Respond to of 14266
 
<<<<So what's the difference between this and devaluation?...

R Keeling answered this in previous post. With devaluation the State reduces the value of its currency. With allowing a previous fixed exchange rate currency to float, the nasty capitalist speculators reduce the value of the currency by refusing to buy it at the previous rate and waiting for lower valuations or by selling the currency thus driving down its value.

Its a lot like Bill Clinton. Some men seduce women sometimes even being assertive. Bill just kept on reading his mail and refused or forgot to intervene to stop the intern from doing whatever it is she felt like doing to him. He hardly remembered what took place until his attorneys explained it too him while he was working on the Nation's business.