Reply #28: Hyperbolic Nonsense [View All]

[ProfessorGAC]

First, the currencies are an anachronism. 99% of international finance is wire transfer, so the currency is far less important than it used to be. When dollars are transferred to Europe, the accounts accumulate Euros by a direct interface with the currency markets.

Ergo, the currencies are all inextricably linked and pressuring one only serves to pressure them all. So, unless these other industrial nations want to self-immolate, this cannnot and will not happen.
The Professor