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G-20 Pledge Not To Devalue...?

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From Bloomberg:

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aQmwVZhIXSMQ&pos=1

Group of 20 finance chiefs sought to calm trade frictions that threaten the world economy by pledging to avoid weakening their currencies to boost exports and to let markets increasingly set foreign-exchange values.

...er, how does that sit with QE exactly?? Or is QE the 'market' setting foreign exchange values... <_<

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From Bloomberg:

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aQmwVZhIXSMQ&pos=1

...er, how does that sit with QE exactly?? Or is QE the 'market' setting foreign exchange values... <_<

That doesn't mean they promised not to inflate M0. But if derivative money is deflating then this can be counteracted while you could plausibly deny devaluation.

Also, if the rate against gold were maintained, you could also plausibly deny devaluation.

In either of those two cases, that's an awful lot of devaluation before they have to admit it.

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Translation - everyone is moaning at China in the hope they stop dicking around with the yuan so the US can properly wipe out their domestic debts and reset the BRW system.

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G20 pledges not to devalue - devaluation it is then!

It's like a baby promising not to shit its nappy.

Watch what they do, not what they say.

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G20 pledges not to devalue - devaluation it is then!

It's like a baby promising not to shit its nappy.

Watch what they do, not what they say.

They can't all devalue. Debase, sure - but that's a different kettle.

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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