Square Holes and Currency Pegs
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Square Holes and Currency Pegs Berenice Abbott Murray Hill Hotel, New York 1937 When David Bowie died, everybody, in what they wrote and said, seemed
[See the full post at: Square Holes and Currency Pegs]Funny how the drop in iron ore and coal prices have had zero impact on Australians’ perceptions. I think the oil price drop – a big positive – has had far more profound effects.
“Five reasons we are not heading for recession”
One good lens through which to view events is that the monetary system is breaking down. Correct me if I am wrong but this is dead center in AE’s view of where we are in history.
* Rockstars and ponzi schemes belongs to every one else; Deflation was baked in but not expected; No one expects the blackbird that pecks off their nose
* Deflation is chaotic with a self-excited attractor; When the bubble bursts the soap will hit the fan; Low prices are a late indicator of money in slow motion
* The demise of currency pegs will send a thrill up the dollar’s leg; If a currency can’t stand on its own two feet it will drown; The yuan devaluation will be a surprise; The Hong Kong dollar is torn between two lovers; Social chaos trumps currency pegging; Some pegs are more equal than others
* The dollar is a bull in China’s shop; Denying unpegging is bedside manner for the terminally ill; The US and China have been playing spin the bottle for years but always choose the dare
* Price discovery is home alone while the economy vacations in Paris; Currency pegs are from the land that time forgot; They are a CGI trick of banks and governments; They are ice on the windshield of the economy and need to be scraped off; Currency pegs are dead, long live currency pegs
* The elites are poisoning their own well; No one can afford stocks or oil; Wealth is largely on the books; It’s all downhill from here; Wait and see
“And that’s why the Saudis and Chinese are so anxious about letting go of their pegs. That and pride.”
As George Costanza said: “I can’t have a drop-down. We were eye to eye; I can’t go eye to chin.”
Today, 1 us$ buy $1.41 canadian.
It used to be on par.
To a Canadian, that is deflation. The $canadian cannot circulate like before.Then again, could it mean that the us has printed too many dollars and that the us buyers can pay more and more every day for the Canadian dollar?
Does that mean that the us $ has inflated?
Or, does it mean that the Canadian $ has deflated?
Is one mans inflation another mans deflation?
Is it inflation if I must pay more for my us imported veggies?
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