Tradefair & Financials
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Would appreciate some sage explanation of the following questions.
1. Why do some nations have to devalue their currency, such as the UK in 1967 ? Is it simply because the cost of production, i.e. wages, is too high ?
2. Since the abolition of the Gold Standard what dictates the exchange-rate level of one country with another ?
Thanks in advance for you answers. :)
blue
1. Why do some nations have to devalue their currency, such as the UK in 1967 ? Is it simply because the cost of production, i.e. wages, is too high ?
2. Since the abolition of the Gold Standard what dictates the exchange-rate level of one country with another ?
Thanks in advance for you answers. :)
blue
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i got an answer. who cares? and why would it be relevant in 2010?
a quick look in a 20 year old economics text book will give tou the answers.Have you heard of google? |
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I'm well qualified to answer your question. But I won't. Partly because I can't be arsed, and partly because you could probably just type 'gold standard' into wikipedia and get a better answer.
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Googled devaluation and didn't come up with anything that useful. The Wikipedia entries aren't up to much either.
Thanks for taking the time out to reply anyway. |
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If you start with the concept that everything about money is smoke and mirrors and all illusion and then you add to that the confidence and trust that people have in each other to deliver what they promise then add to that that some b@stards can make a fortune by promising more than they can deliver and finally add to that the fact that everyone is too ** scared of calling the biggest lying b@stards what they are you have the foundations of finance.
Countries have to devalue becasue they have lost the confidence of others and they are weak. |