On Nov 3, 2010, at 7:23 PM, Doug Henwood wrote:
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> On Nov 3, 2010, at 7:14 PM, Jordan Hayes wrote:
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>> It certainly will continue to hammer the dollar.
>
> It's not clear that they care, is it?
Or maybe, as the FT seems to think, that's the whole point of the exercise. Since the Chinese won't revalue, force them (and the Euros) by devaluing the dollar. So its what Krugman calls the "wonkish" reason (that it just shortens the maturity of the debt by a few months) that's the explanation why it can't even do that.
Shane Mage
"All things are an equal exchange for fire and fire for all things, as goods are for gold and gold for goods."
Herakleitos of Ephesos, fr, 90