Quote:
Originally Posted by lucid
Consumers, by merely being consumers, neither set key interest rates that impact the value of a national currency (Greenspan did that damage), nor directly control national (military) budgets.
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not to get into an macro-economic debate here but increasing interest rates (What greenspan did) does not devalue the currency, rather it should increase demand for dollars as money inflows to take advantage of the higher rates. the USD is currently under pressure due to speculation in currency markets that the fed will continue rate cuts in light of the current credit crisis.