Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
But the UK, US, Germany{} and China have a central bank. They cannot be crashed in the same way that state governments like (west to east) Ireland, Portugal, Spain, Italy or Greece can be.

{ Well, not formally, but de facto they have the ECB}

Their currencies can only be "attacked" if they make the mistake of trying to overvalue them ~ which is why the Chinese currency is presently immune to speculative attack and if they make prudent use of the Singapore basket peg, can remain immune to speculative attack.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat Apr 23rd, 2011 at 07:53:18 PM EST
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