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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Frodo Baxter who wrote (548)	9/3/1998 9:42:00 AM
From: Henry Volquardsen	Respond to of 3536

Malaysia is going to suffer from those solutions. Krugman is selling snake oil. Re Hanke and the idea of currency boards, currency boards are theoretically a great idea. In practice they require an honest government and rigorous self control. Very few countries possess those attributes. Argentina has done a remarkable job and should be commended. Hong Kong, which had been a model of an effective currency board, wasted billions in supporting the Hong Kong equity market and lowering interest rates. This will cost them at some point. I doubt countries like Indonesia, Russia or Malaysia currently have the wisdom or courage to implement a currency board.