Perhaps one of the really interesting issues this raises is the possibility of an independent "global" currency which would have more short-term stability than any particular national currency.
However I'd love to see a mathematical model. I suspect that when the currency declined it could leverage an unstoppable global decline due to inherent negative feedback. When the currency declined its assets would decline, which would accelerate the decline... And there would be no safe haven to flee to. The boom-bust cycle on steroids! David L. _______________________________________________ Link mailing list [email protected] http://mailman.anu.edu.au/mailman/listinfo/link
