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发表于 18-9-2015 09:11 AM
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This is the last. what for to pretend you know everything?? I happen to be in the market and this is my rice bowl. definately not intend to 'humiliate' you but your previous post was wrong and I am afraid somebody will take it literally as a fact.
1. there is no more gold standard since Nixon abolishment.
2. bnm monetary policy is angled with OPR. Thus, interving the supply/demand of the vol of MGS. We don't do debt monetaization like US, ECB or Japan.
98 was the problem of lending long but borrow short in USD by our bankers. why the banks did so? answer: Japan burst devalue Yen significantly and created huge funding flow (cheap money) into EM out of Japan. RM was indirectly pegged with Bath which was directly pegged with USD. Japan and US pensions fund (mostly) pull out Bath depreciated. the rest is self explanary. so, that' why.
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