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The absurd thing is that it all might have worked if there had been some internal capital controls to reduce massive flows of funds from the core to the periphery.

That is what floating currencies do for you.

Replacing a market system that works with a ForEx rationing board that may or may not work is... perhaps to show an excessive enthusiasm for government solutions.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 14th, 2011 at 10:19:55 AM EST
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