Sunday, January 08, 2006

A Tisket A Tasket

The Chinese have announced a new tactic for pegging their currency. They will no longer be using the dollar alone, but will substitute a "basket of currencies."

This has got my imagination wandering. Which currencies do you suppose are in there? It could be a mix of the euro, the yen, the dollar, maybe the South African rand -- who knows? Maybe it's got dinars, australs, rubles, pulas, and ringgits. (Did you know the world also has nakfas, birrs, kunas, sylies and gourdes? Then there's kwachas, patacas, ouguiyas, lilangenis, pa'angas and guaranis. (For more, see here.)

Maybe it's just a big fat bunch o' dollars with an itty-bitty guarani in a side pocket?

[Thanks to]

Or maybe it's got just the Asian currencies, in which case it might just as well be the dollar.

Do you suppose the chairman of the Chinese central bank is taking lessons in Greenspan-speak?

Hmmm. all this is vely intelesting.


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