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Fixed exchange rate worked real well for us. Not.

500 % interest rates here we come...

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid (arvid.hallen at gmail.com) on Tue Oct 7th, 2008 at 12:13:07 PM EST
[ Parent ]
For those missing the reference, 500% was the high point of the interest rate when the fixed exchange rate of the swedish krona was defended in the run up to the swedish crises of the early '90ies.

Later the exchange rate was allowed to move freely and dropped some 30% below the fixed one.

The two takes on the defense of the krona is 1) stupidity and 2) giving the really rich some time to convert there assets to foreign denominations on the taxx-payers dime.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Wed Oct 8th, 2008 at 09:42:00 AM EST
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