Emerging-market currencies often suffer a as a result of their government’s own profligacy. But the US is also actively trying to destabilize some currencies, and setting up a conflict that the US could ultimately lose.
Last week’s collapse of the Turkish lira has dominated the headlines, and it is widely reported that this and other emerging market currencies are in trouble because of the withdrawal of dollar liquidity. There are huge quantities of footloose dollars betting against these weak currencies, as well as commodities and gold, on the basis the long-expected squeeze on dollar liquidity is finally upon us.
Fonte: Mises Institute
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