Mała punk

Temat: currency WAR
...that did most to sustain and encourage the world financial system over the past decade or so – an assumption about the pre-eminence of economics versus politics – was an illusion. It would have been an illusion even if the events of September 11 had not happened, or had not yet happened. What those events did was to make it clear just how illusory the assumption had been. With enlightenment, unfortunately, will come a realization that the brief Golden Age of free-market international capitalism is ending. The period from around 1982 until about a year or two ago was marked by great secular trends in financial markets: a bull market in stocks; a bull market in bonds; and a bear market in gold. Underlying all there these trends was more or less continuous world disinflation, a falling equity premium related to perceptions of increased economic and political stability in the world, an improvement in public finances...
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