Be it a strong dollar or a weak dollar, changes in the value of money enervate the citizenry most by redistributing wealth. Keynes wrote that "when the value of money changes, it does not change equally for all persons or for all purposes." Sure enough the falling dollar of recent years has enriched those long on land, precious objects and commodities all at the expense of the saver and to a high degree, the investor.
Saturday, March 1, 2008
Keynes on the falling dollar
I don't remember reading this when I was in grad school. From former student John Tamny:
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It is obvious that falling value of dollar has made huge effect on many things, but we need to be good enough to handle it. I do Forex trading and trading in dollar is something, I am quite regular working on. I am fortunate that I don’t have to face any trouble thanks to OctaFX broker, as they got sensational daily market news and analysis service, it keeps me updated for all happening and that’s why I am able to trade with ease.
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