You want a kind of gold standard, with the dollar and other hard currencies acting as a substitute for gold.
The government takes hard currencies, such as the dollar, and buys up their own money in the foreign exchange markets.
Households and companies have borrowed in hard currencies, believing that their exchange rates could only harden against the euro in advance of joining it.
Creation of a ruble stabilization fund which would permit Moscow center to gain access to Western hard currencies simply by printing and converting worthless rubles, with few, if any, of the necessary preconditions in place.
The impoverished farmworkers would be paid in a new currency that would later be converted into dollars, euros or other hard currencies once the farms start exporting to world markets, explains Benjamin Feldman, the Maharishi's finance minister.
In addition, the rapid expansion of the money supply causes the currency to lose value against hard assets and foreign currencies.
They are saying that a weak dollar is forcing Central Banks around the world to turn to other currencies and hard assets because they are losing value on their dollar based assets.
Stable exchange rates will be a hard habit to ditch, because having currencies linked to the dollar played a big part in the region's phenomenal decade-long boom.
Look for this pattern to continue in 2013 as China continues to wean itself from the U.S. dollar and to diversify its holdings to include a larger basket of currencies, as well as hard assets in Europe, the United States, South America and Africa.
Still, law enforcement, regulators and financial institution have expressed worries about the hard-to-trace attributes of virtual currencies, helping trigger this week's move from the Treasury's Financial Crimes Enforcement Network, or FinCen.
The devaluation of the major currencies is also a bullish underlying factor for hard assets in the investment world, including gold and silver.
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But it could be even bigger if Asians enjoyed the full fruits of their hard labour, rather than subsidising Western consumers through undervalued currencies.
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In Latin America and Asia, they have also worked hard to contain currency mismatches, borrowing wherever possible in their own currencies, rather than someone else's.
If Bitcoin ever could establish itself as a legitimate payment scheme, which I doubt, it's hard to tell what the appropriate exchange rates should be with respect to other currencies.
Unlike the hard-money ECB, most other leading central banks are happy to see their currencies depreciate which will make it all the more difficult for the euro area to run a current account surplus.
It was hard to avoid the carnage, whether you were in stocks, commodities, real estate or currencies.
Hard assets will benefit as a hedge from the medium and long-term reduction in purchasing power of various world currencies, he said.
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