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You sound like Harold Wilson. I don't mean to suggest that the current American devaluation is as large as the UK's 1967 devaluation, at least so far. Just tha
by dave4420 1y ago
You sound like Harold Wilson.
I don't mean to suggest that the current American devaluation is as large as the UK's 1967 devaluation, at least so far. Just that your reasoning here is wrong: when your currency falls, that has a domestic inflationary effect precisely because your currency is worth less than before.
- neilwilson 1y agoWas Bretton Woods in place in 1967? That's a fixed exchange rate system. What might have happened in 1971 that changed the way thing worked overall?
- dave4420 1y agoWhat has that got to do with this thread? A devaluation's a devaluation, whether you're forced into changing a fixed rate, or have it imposed on you by the markets.