Wednesday, October 20, 2010

Copying what everyone else said last week and week before

Bank of England chief warns of 'currency war'

Bank of England governor Mervyn King has warned that tensions between countries over their respective exchange rates could degenerate into trade protectionism amid talk of a potential 'currency war'.

Posted by mark @ 09:11 AM (899 views)
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One thought on “Copying what everyone else said last week and week before

  • The worship of free trade is something of a false god.

    I’ve long felt that a universal tariff between nations (even within the EU) is a more prudent approach; that the domestic supply of goods should be the default option.

    Excessive trade is not environmentally sound, causes economic stress when exchange rates alter, compromises food security, and periodicaly causes loss of employment through no fault of the workforce.

    I feel sure that a universal tariff of 20% on all trans-national movements of goods would prove its worth over the longer term.

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