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Old 19-02-2013, 19:39   #25
MovedGoalPosts
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Re: Sterling At Risk Of “Large-Scale Devaluation”

The more you try and manipulate an economy, the more the economy will manipulate itself and bite you in the backside.

Economies are no longer those of indivual countries, or even continents, but are truly global. It's all intertwined. Short term fixes will create longer term problems.

The single biggest issue, as indicated by the whole quantitive easing thing, is that so called currency now appears to have no real basis of value tied to any asset. We saw this with the credit crisis, that organisations owned a lot of stuff on paper, but the moment someone called into question the value of that paper the whole thing came crashing down like a pack of cards. History will repeat itself over and over.
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