All this proves that currency wars are useless in open economies. Central planners and their batteries of Keynesian analysts are surprised that economies do not work as their Excel spreadsheets assume. Expected correlations and causations fail. But they do not admit their own mistakes. They do not attribute it to the fact that their correlations and estimates are obsolete and wrong, but that “not enough was done” and “it would have been worse” – Mises Wire
The above extract clearly indicates that trying to manipulate currency in an open ECONOMY concept is a chase after the wind. It’s in vain as learnt from European Central Bank (ECB) recent attempts.
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