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No the main effect of QE is to increase credit availability and reduce retail interest rates - currency devaluation is an indirect effect - certainly compared to the explicit currency cap operated by the Swiss National Bank - who btw are also an IMF Treaty signatory

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Thu Jan 29th, 2015 at 10:36:48 AM EST
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